OWN A PIECE OF PARADISE -- BALI
There are many things to consider when starting your research into making a move to another country, not the least of which is . "Can I buy land or purchase an existing home there?"
As always, it's recommended (when considering a move) to: consult with your financial advisors, do research on the Internet, contact expatriates living in the country to which you'd like to move, hire a reputable real estate broker in your destination of choice and consider hiring a real estate attorney to help you through the process.
Note: While we've done our best to verify these websites and resources are legitimate, sportdiver.com and Sport Diver magazine cannot be held liable for information obtained from these sources. Each individual is responsible for verifying any information obtained through this or any other website.
Can I buy Property on Bali?
Yes, with many restrictions. As far as legal requirements and the ways one can own property, the Indonesian laws can be complex. There are many intricate rules (decrees) and laws, and depending upon the source, the answers can be different. We've researched this subject and here is some of the information we found:
Indonesian citizen ownership:
Right of ownership
This is the most complete ownership available and is a type of ownership specifically for Indonesian citizens.
Basically, foreigners can "own" property or land in just a few ways in Bali. We recommend visiting several websites for further information. Try bali-information.com or livebali.com.
Right of Use
This allows Indonesian citizens and resident foreigners, to "use" a specific piece of land for building or agriculture for a period of 25 years, which may be extended for certain reasons.
Right of Building Lease
This allows the buyer to lease or "use" the property in return for compensation, and is a way for resident foreigners to obtain land for building.
This requires a "contract" with an Indonesian "name holder" and this way of "ownership" needs to be investigated thoroughly, as any property transaction in a foreign country. The property is held in the citizen's name, and thus, a foreigner is not the actual "owner," however they may "use" the property as if it were their own. Many properties are obtained by foreigners this way and many have been happy with this arrangement.
One of the best ways to test drive living in a foreign country is to rent there first. Many properties are available in Bali as rentals, and they can be small inexpensive bungalows to incredible luxury estates. This is a great way to check out your "paradise" before you commit.
REAL ESTATE COMPANIES
- Bali Karma
- Bali Home and Property Sales
- Bali Property Information
- Bali's Best Properties
- Leisure Investment Villas
- Bali Properties.com
Disclaimer: The information and resources listed here are deemed correct at the time of publishing and are not an endorsement nor do they reflect the opinions of Sport Diver magazine and the PADI Diving Society or Bonnier Corporation. Each individual is responsible for investigating and verifying any information obtained through this or any other website.