Good Property Bali
That’s is good question, when you are foreigners and want to invest your money on property or real estate in Bali. If you you want to buying a property in Bali, you should seek professional legal advice from your friend in Bali who knows how things work in Bali legal law. I am not a lawyer, but only a humble real estate agent. This is my best attempt to explain a little bit regarding How to buy property in Bali as a foreigner. Well, this text i found at expat blog forum, which is wrote
” I want to buy a Villa in Bali and being Australian and not married to a local how can I
do it ?.”
You can read carefully on that forum as well, read and try to analyze the legal problem easy.
on my opinion you better to find a leasehold property in Bali, It is legal for foreigners to buy leasehold property. Normally this will be lease terms of 25 to 50 or even 100 years. There is some discussion about leasehold properties being limited to terms of 25 years. In some areas like central of Kuta, Seminyak, Legian and Petitenget today, its almost impossible to find freehold property for sale. Lease is the best option at this moment.
Many foreigners nominee system when they buy a property in Bali. This is where the foreign buyer puts the freehold title into the name of an Indonesian citizen. You will hear many horror stories (scary movie) about nominees stealing the land. That’s way i more suggest you to use Leasehold property investment.
Can foreigners purchase a property in Bali – Indonesia ?
The Indonesian government issued Law 5 of 1960 on the “Basic Regulation Of Land in Indonesia” (“UU 5/1960”), which came into force on 24 September 1960. This law explicitly and implicitly revoked many older laws. As a result, it can be said that UU 5/1960 established revolutionary new rules and principles concerning rights in land. UU 5/1960 recognized and regulated several rights over land and houses, including the: Right of Ownership (Hak Milik), Right to Cultivate (Hak Guna Usaha), Right of Building (Hak Guna Bangunan), Right of Use (Hak Pakai), and Right of Building Lease (Hak Sewa Atas Bangunan).