Owning real estate outside of one's own country is one of the most common investment projects, and buying an apartment on any of Indonesia's tourist islands, including Bali, can be done by a person of Indonesian nationality. Can a foreigner own an apartment in Bali?
There are certain rules and laws in Indonesian law that prevent the purchase of land and real estate by foreigners. In this regard, the purchase of property in Bali for foreigners depends on many factors such as government policies and market conditions. One of them is the mandatory existence of an agreement between the owner of the land and the investor.
Thus, when buying property in Bali, foreign investors need to conclude an agreement with the land owner, including a travel company or other person who has the right to sell property in Bali. The right to acquire land in Bali by foreigners can only be given through a lease or mortgage transaction and such foreigner will have the right to use the property for the purpose of the transaction. A foreigner may not sell or transfer such right to another person or use it to sell or transfer land in Bali.
Thus, a foreigner can own real estate in Bali, but not by ownership, but in accordance with the law of Indonesia and only after concluding an agreement with the land owner and under conditions that provide for the foreigner's right to use the property, but not sell or transfer it to other persons.
Semernik GrigoryBusiness analyst
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