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 · The Liberalization of Foreign Property Ownership in Bali
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

The Liberalization of Foreign Property Ownership in Bali

Indonesian Government Promises Liberalization of Foreign Property Rights, But Warns there Will be Restrictions.


Bali News: Indonesia, foreign property ownership, Suharso Monoarfa, BPN, Badan Pertanahan Nasional
Click Image to Enlarge

(3/30/2010)

The National Land Agency (Badan Pertanahan Nasional-BPN) is busily looking a number of possible revisions to the laws banning foreign ownership of property in Indonesia and what limitations should be put on place when, and if, foreigners are allowed ownership or long-term leases.

The chief of the BPN, Joyo Winoto, told Bisnis Indonesia that suggested revisions are now being considered by the government to the property law of 1996 governing ownership and occupancy of Indonesian properties by foreigners and the 1985 law on multiple residence dwellings.

The Minister for Housing, Suharso Monoarfa, is compiling revisions that would result in a single regulation addressing ownership of property by foreigners and access to financial instruments for their purchase.

Limitations on Foreign Ownership

Joyo is asking the government and the Minister of Housing to provide clear guidelines on what limitations should be imposed on foreigners owning property in Indonesia addressing issues such as lease terms, location, minimum price thresholds, building types and maximum periods of ownership.

Property developers in Indonesia are urging a liberalization of the property sector. Foreign residents in Indonesia are presently allowed to lease lands for 25 years with subsequent extensions possible for 25 and 20 years. Developers are asking the government to allow leaseholds of 70 years for foreign owners.

The Chairman of the Indonesian Real Estate Association (REI), F. Teguh Satria, says, "In other countries the right of ownership extends to 90 years making the Indonesian ownership option unattractive and in need of change." Teguh assured that REI is preparing a number of limitations on foreign ownership, including ownership access only for apartments or condominiums with a minimum price of US$100,000 per unit.

Echoing the need for control on foreign ownership, the Housing Minister Suharso, quoted by the Bali Post, said limitations were needed in a number of areas, including how financial instruments for the purchase of property would be structured for foreigners. He promised that any changes to the current law would offer more opportunities to property developers but, at the same time, would place some controls on foreign ownership.

Suharso confirmed that changes to the law were being intensively considered by his ministry. He hopes that a new draft regulation will be ready to place before the President in May. He cautioned that the implementation of any new regulation faces problems via an amendment process awaiting any regulation in the national legislature.

Related Article

[Editorial: Bali Real Estate: Boom or Bust?]


© 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
Showdown Ahead?
Groundswell of Opposition to Benoa Bay Reclamation Grows with Long March Through Downtown Denpasar on Sunday, May 22, 2016
(5/23/2016)
Something Fishy Going On
Two Celebrity Chefs Join Forces for a Lunchtime Seafood Fest in Ubud on Friday, May 27, 2016
(5/23/2016)
A Royal Obligation to Serve
Denpasar King Seized by Prosecutors to Begin Serving a 2.5 Year Prison Sentence for Fraud
(5/23/2016)
Pre-Dawn Fatal Crash
Melbourne Man Dies in Collision with Rubbish Truck
(5/23/2016)
And if Dreams Come True . . .
Join an Enchanted Day to Teach Children How to Make Fairy Houses on Sunday, May 29, 2016 at Trans Resort Bali
(5/23/2016)
Just a Month Away
Bali and Beyond Travel Fair in Final Count Down to Opening on June 22, 2016
(5/23/2016)
Stop Only Outside of the Box
Denpasar, Bali Police Introducing Yellow Box Junctions to Reduce Traffic Gridlock
(5/23/2016)
Ate Like Primate
Bali Zoo Offers Breakfast with the Orangutan
(5/23/2016)
The Indonesian Tourism Bucket List
TripAdvisor 2016 List of Most Popular Tourism Landmarks Dominated by Bali
(5/23/2016)
Avoiding Mayhem and Disaster
Bali Officials Study Disaster Mitigation In Darwin, Australia
(5/23/2016)
In Xanadu
Australian Property Developer Sent to Jail in Bali for Property Fraud
(5/23/2016)
Retaliation or Cost Saving
Lion Air Suspends 227 Flights Over One Month Period
(5/23/2016)
All [News]!