Very important information to read:
This article is intended as a preliminary guide only and refers to some but not all elements required to consider in detail prior to starting any property dealings or due diligence. Property dealings are often complex, especially in foreign countries and we highly recommend you seek independent professional advice... read more... Last week, Gapura Bali sponsored a seminar on property ownership structures for expats in Bali and in Indonesia as a whole.
Attendance at the event comprised mainly of expat property owners, as well as local agents and agency's eager to know more about what properties can and cannot be sold under property ownership structures.
The event was also attended by the Real Estate Association Of Indonesia (AREBI) as well as Okussi Associates, an Indonesian corporate service provider.
The purpose of the seminar was to educate expats, in particular, on property ownership structures. Particular points to note include: freehold and nominee structures are void, as they hold no benefit; sub-versions of this exist as well, using lease back to back, transactions overseas and so on. The seminar explained that this actually increased risk for buyers and creates a costly end result.
The tax amnesty has also helped to flush out these structures. Another surprise for many is that by law, to hold a long-term lease you must also hold residential status, and this has been the law since the 1960s.
There is a misperception that Indonesia is making it harder for expats to invest, when in fact, the opposite is true. With 15 incentive packages and the upgrade of regulations around expat opportunities to secure properties in Indonesia.
Previously, many regulations in the past have not been enforced, and while they are now, it seems they are opening up more and more opportunities for expats.
Moving forward, however, the government's main objective is in relation to tax identification and proper permits and zoning.
Gapura Bali will be hosting another seminar event soon that will focus on obtaining visas, and Indonesian immigration steps to ensure progressive compliance for expats.
For more information, or to discuss property ownership structures, phone or email Terje Nilsen of Harcourts Seven Stones via the contact details listed below.
Similar to this:
Seminar: Indonesian land laws and how they relate to foreign investment
Indonesian President announces new business registration regulations
So, you want to buy a home in Bali?
Very important information to read:
This article and the above linked articles are not complete and are intended as preliminary guides only. These guides refer to some elements to consider prior to starting any property dealings or due diligence. Property dealings are often complex areas, especially in foreign countries and we highly recommend you seek independent professional advice... read more... 
