Close
Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Three Score Rental Soon Possible
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Three Score Rental Soon Possible

Property Ownership Still Taboo for Foreigners in Indonesia, But 60 Year Leasehold by Non-Indonesians to Soon be Possible


Bali News: Three Score Rental Soon Possible
Click Image to Enlarge

(1/8/2012)

The desire of the Minister of Public Housing, Djan Faridz, to give full property ownership rights to foreigners has run afoul of the National Constitution and the Basic Agrarian Land Act. As an alternative and in order to encourage foreign capital investment in the property sector, the right to rent or lease land will soon be extended to an initial 60 year period, an increase over the current limit of 25 years.

The government plans to issue the new regulation allowing 60 year lease holds is expected to published by late January.

Under the former Basic Agrarian Law instituted in 1960 foreigners were eligible to obtain a Hak Pakai -- Right to Use Title for a maximum period of 25 years, extendable for additional sequential increments 20 years and 25 years.

The new law still limits foreigner to the rental of property, but now for an initial contract period of 60 years.

The Minster of Public Housing had originally promised to open property ownership to foreigners by opening Hak Guna Bangunan - Building Rights Title, short of the actual outright ownership of land. This idea, however, appears to be a concept that is anathema to the Basic Agrarian Law and the National Constitution.

Caveat Emptor

Despite advertisements in Bali offering freehold property title, the Indonesian law remains absolutely clear on the point that the Indonesian equivalent of Hak Milik is the exclusive right of Indonesian citizens. Efforts to contravene this prohibition on foreign ownership of land through absolute powers of attorney and nominal ownership secured by nebulous loan agreements are “legal constructs” proven likely not to stand the test of time, legal challenge or close scrutiny by tax officials.

Related Articles

[Regulation of Property Ownership by Foreigners]

[Bali Property Ownership by Foreigners]


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.


 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
The Yak Awards 2014
‘A Decade of Decadence’ Party at Mozaic Beach Club Marks the 10th Annual Yak Awards
(11/17/2014)
You’re One in Three or Four Million
Bali by the Numbers: Bali Now Almost Certain to End 2014 with 3.75 million Foreign Visitors
(11/17/2014)
The Very Bare Necessities
Minimum Wage Levels for Bali Announced for 2015
(11/20/2014)
How You Going to Keep Them Down on the Farm
Large Downturn in Balinese Working in Agricultural Sector.
(11/17/2014)
And the Verdict is . . .
Two Men Charged with February Murder of American Paul Latourell Facing Potential prison Sentences of 15 and 3 Years
(11/17/2014)
Bali Safari Marine Park Celebrates 7th Anniversary
The Bali Safari and Marine Park celebrates 7th anniversary on Thursday, November 13, 2014.
(11/17/2014)
President Widodo Pauses in Paradise
Indonesian President Joko Widodo Makes a ‘Transit Stop’ in Bali on his way to the G-20 Summit in Brisbane
(11/17/2014)
Philippine Taxi Drivers in Bali?
Governor Pastika Concerned that Workers in Bali May be Unable to Compete Under Free Movement of Workers Between ASEAN Countries Starting in 2015
(11/17/2014)
The Rupiah Rules
Airline Tickets Agents, Hotels and Restaurants in Indonesia Required to Transact Their Business in Indonesian Rupiahs
(11/17/2014)
Profits Disappearing into Thin Air
Q3 2014: Garuda Indonesia Loses US$219.5 million
(11/17/2014)
A Case of Reverse Thrust
Garuda Indonesia Flight Cancelled from Banyuwangi to Bali as Aircraft Rolls Backward Off the Runway
(11/17/2014)
Raising Indonesia’s Aviation Game
Minister of Transportation Says Indonesia will Take Steps to Comply with Highest Aviation Standards of FAA and ICAO
(11/17/2014)
All [News]!