Only a foreign-owned enterprise in which at least 20% of the capital is held by Lesotho citizens are allowed to hold title to land, and provided land is needed for investment purposes and subject to the screening involving economic interests. Otherwise, foreign investors may lease land for business purposes.
"Interpretation
2. In this Act, unless the context otherwise requires –[...]
“foreign enterprise” means: (a)partnership in which any partner is a non-citizen; or (b)a body corporate which any of the directors or shareholders is a non-citizen;
“land” includes land covered with water, all things natural or man-made growing on land, and buildings or other structures permanently affixed or attached to land
[...]
Persons who may hold title to land
6. (1) The persons who may hold title to land are –
(a)the Government of Lesotho; (b)a citizen of Lesotho who is not less than 18 years of age except – (i) where the person is married; (ii) where title is a result of a gift; and (iii)where title is a result of inheritance; (c)a foreign enterprise for investment purposes, provided Basotho, whose land may be valued so that it may form part of the shareholding in such a partnership, form at least 20% of the membership or shareholding of the enterprise; (d)a company duly incorporated or registered under the laws of Lesotho, of which shareholders are Basotho and carrying on business in Lesotho; (e)a partnership carrying on business in Lesotho of which shareholders are Basotho; (f)a cooperative society, friendly society and a society or body of persons registered under the laws of Lesotho; (g)an association established under the laws of Lesotho; and (h)Commonwealth or foreign governments or public international organizations for which Lesotho enjoys similar reciprocity for purposes relevant to their activities.[...]
(3) Sub-section (1) shall not be construed as prohibiting any person disqualified under it from holding any right subsidiary to a lease, including a sub-lease or mortgage, subject to the consent of the Commissioner being obtained where so required under this Act.
(4) In considering a grant or allocation of land to a foreign enterprise under sub-section (1)(c) the following factors should be considered - (a)the magnitude and origin of the tangible and intangible assets; (b)employment generation; (c)strategic nature of the enterprise; (d)whether the business in relation to the application provides for the transfer of business expertise; (e)advancement of business undertaking owned by citizens; and (f)environment protection.
[...]
PART VI - LEASE RIGHTS AND TRANSACTIONS [...]
Duration of leases
32. (1) A lease shall not be granted for a term exceeding –
(a) 90 years, where the lease is for – (i) residential purposes; (ii) agricultural purposes; (iii) purposes of exercising a profession or calling; or (iv) any devotional, religious, benevolent, educa­tional, recreational, charitable and medical purposes;
(b) 60 years, where the lease is for – (i) heavy industrial purposes; (ii) commercial or light industrial purposes, other than the sale of petroleum by retail; or (iii) hotel purposes;
(c) 30 years, where the lease is for – (i) purposes of sales of petroleum or oil; or (ii) purposes of wholesale storage of petroleum or oil.
(2) A lease shall not be granted for a term of less than 10 years.
(3) On application by a lessee made not later than 6 months before expiry of the term of the lease, the lessee shall be entitled to the grant of a new lease on terms set by the Minister on condition that the land or part thereof is not required for any public purpose.[...]" (LAND ACT NO. 8 OF 2010)
LAND ACT NO. 8 OF 2010
[<a href="https://lesotholii.org/ls/legislation/act/2010/8/land_act_2010_pdf_31029.pdf">Act</a>]