The iTaukei Land Trust Board (TLTB) was set up in 1940 as the Native Land Trust Board under the iTaukei Land Trust Act known then as the Native Land Trust Act. Its initial purpose was to secure, protect and manage land ownership rights assigned to the iTaukei landowners and to facilitate the commercial transactions that revolve around its use.
iTaukei land comprises 87 percent of all the land in Fiji and was permanently deeded by the British Crown in the 1880’s. To put it simply, this land cannot be sold. It will forever remain as property of the landowning unit unless sold back to the State and then used solely for public purpose. iTaukei land is available for public use by lease agreement. Leases can vary from 30 years for agricultural purposes up to 99 years for most other uses including residential, commercial and industrial leases.
Its core business activity is therefore the management of iTaukei lands and it deals with such lands by way of negotiating leases and licenses for their use by tenants and provides related administrative functions for that operation. TLTB receives lease monies on behalf of the landowners and distributes them to the beneficiaries and is also responsible for the management of these funds as trustees.
As Fiji continues to grow and makes its presence felt in the world of tourism, agriculture and in commerce it is a virtual certainty that the requirements for the utilization of iTaukei land will expand dramatically.
TLTB are positioned to assist both investors and landowners in bridging the gap to ensure great success for both parties. For further information about iTaukei land and TLTB's responsibilities, please contact us.