Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Taking Out the Wash
Bali Hotels, Bali Villas and Bali News from
Bali Hotels
Bali Villas
Special Deals!
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
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

++62 361 286 283

++62 361 286 284

U.S.A. Fax:(toll free)

U.K. Fax:

Australian Fax:

++62 812 3819724

Bali Discovery

Bali News

Taking Out the Wash

New Rules Requiring Reporting of Property and Luxury Good Transactions in Excess of US$55,500 Dollars May Complicate Life for Foreign Property Purchasers in Bali

Bali News: Bali, Indonesia, PPTAK, Indonesian Financial Transaction Reports and Analysis Center, INTRAC, Agus Santoso, money laundering, nominee transactions, Buying property in Bali, reverse proof, Prevention and Elimination of Criminal Money Laundering
Click Image to Enlarge


Commencing in March 2012 new regulations come into force, which could have far reaching effects on Bali’s real estate and property sectors.

As reported by NusaBali, all property agents and developers will be soon be required to report every transaction in excess of Rp. 500 million (US$55,500) to the PPATK (Indonesian Financial Transaction Reports and Analysis Center/INTRAC).

INTRAC is an independent agency of the government – answerable directly to the President, established to detect and prevent criminal money-laundering transactions.

“On March 20, 2012 property agents and developers must report (transactions) to the PPTAK,” explained the vice-chairman of PPTAK, Agus Santoso.

According to Santoso, the regulation is based on Section 17 of Law Number 8 of 2010 on the Prevention and Elimination of Criminal Money Laundering. Under the rule, the party obliged to report the transaction is not the purchaser of a property, but the developer or the property agent.

“The obligation to report is contained in Section 27 of the Law that requires property transactions in excess of Rp. 500 million; whether paid in cash, non-cash means or paid for in installments,” explained Santoso who former job was as the Deputy-Director of Law at Bank Indonesia. The specific technical requirements of the regulation are set forth in PPATK Rule No. 12 of 2011.

Agus said the enforcement of the new rule is needed to monitor the purchase of land and luxury transactions that are often used to shield funds obtained through criminal activities.

Implicit in the new rule is the assumption that the government will soon require “reverse proof” from purchasers of property and luxury items that demonstrate the legally-earned financial wherewithal to make such purchases.

In Bali, these new rules may complicate the widespread use extra-legal practice of placing a business or a property in the name of a 3rd party, while also putting in place legal instruments  that allow the purchased item to be under the control by the foreign owner who financed the purchase.

© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to


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
Bali's Best Dining and Bars
Baliís Best Restaurants, Bars, And Cafes 2015 Crowned
Pray for Rain
Extended Drought Threatens Severe Water Shortage in Kuta and Other Areas of Bali
Double Bladed Consequence
Italian Tourist Goes berserk and Attacks Warung Owner with a Knife in Sanur Bali
A Night at the Museum
Baliís Arma Museum Named the Nationís Best Privately Owned Museum
Keeping Ahead of the Wave
New Tsunami Early Warning System Tower at Kedungu Brings to 9 the Total Number of Tsunami Warning Towers in Bali.
Needed: Stroke of Good Luck
New Kuta Golf Course 8th Anniversary October 10-11, 2015
A Ban on Reclamation?
Maritime Affairs Minister Announces Plans for a Moratorium on Reclamation of Seashores Nationwide
Liberalizing Indonesiaís Cruise Sector
Foreign Flagged Cruise Ships Allowed to Carry Domestic Passengers
Dogs Tied to a Poll
Bali Post Conducts Public Opinion Survey on Governmentís Response to the Rabies Crisis
Everything on your Plate
Police and provincial Authorities Warn that Motor Vehicles Staying More than 3 Months in Bali Must Convert to Local Police License Plates
Pearls of Wisdom
Pearls of North Bali and the Women Who Fashion Them at Living Lobby Art Exhibition Masters Showcase at Conrad Bali Resort Through January 10, 2015
When Kids Communicate and Collaborate
Global Issues Network Conference in Bali October 16-18, 2015
All [News]!