Buying Property in Bali
www.balivillaproperty.net - 2009-02-06 08:45:53
Buying Property in Bali
Please
note that this guide is intended for general reference only and
investors should always consult an appropriately qualified Indonesian
legal advisor in relation to a specific project. The
subject of property ownership in Indonesia is much debated and one of
the few clear facts that should be remembered at all times is that only
Indonesian citizens may currently own freehold land. This law is not
likely to change in the next 5 years. Companies, whether Indonesian,
foreign or joint venture, or foreign individuals can only enter into
what international investors would generally refer to as lease
agreements. When putting this guide together, we received numerous
interpretations and opinions from a variety of local law firms and
“foreign technical advisors”. As non-Indonesians are not allowed to
practice law in their own right (except where they act as in-house
legal counsels), obtaining accurate information is sometimes a
difficult task. Professional indemnity insurance is virtually unheard
of, so any recourse in the event of an incorrect or inaccurate legal
opinion is practically impossible.
All of the above being said, there are tried and tested methods of
“ownership” and “land use rights” that have been used for many years by
major hotel groups, individual investors and foreign companies. We
have tried to outline all reasonable options available to a
non-Indonesian looking to enjoy a property in Bali in this guide.
Please note that the operators of this website do not take any
responsibility for the accuracy of this Guide or the information
contained within it. Properties should not be purchased using this
Guide as sole reference point.