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How to invest in Indonesia
To buy property in Indonesia, a foreigner must typically find a property, engage a reputable notary ( solicitor ), obtain a “Hak Pakai” title (leasehold right), 30 years with 2x 30 year extensions , conduct thorough due diligence on the property’s legal status, pay necessary taxes and fees, and register the property with the Land Registry Office; note that foreign ownership is restricted and usually only possible through a leasehold arrangement with a “Hak Pakai” title.
Why Gili Gede?
Key steps to buying property in Indonesia as a foreigner:
- Find a property: Search for a property that meets your needs and budget.
- Hire a local professional: Engage a reputable notary ( lawyer) , familiar with Indonesian property laws to guide you through the process.
- Understand ownership limitations: Foreigners cannot own freehold property (“Hak Milik”) in Indonesia and typically acquire a leasehold right (“Hak Pakai”) with a maximum duration.
- Due diligence: Conduct a thorough investigation of the property, including checking land certificates, zoning compliance, and any legal issues.
- Obtain a “Hak Pakai” title: This is the leasehold title that allows foreigners to own property in Indonesia.
- Negotiate the price and terms:Agree on a purchase price and contract terms with the seller.
- Pay necessary fees and taxes: Be prepared to pay various fees including registration fees, transfer taxes, and notary fees.
- Register the property: Complete the property registration process with the Land Registry Office.
For more information on investing in Indonesia, please contact:
Anthony Newhouse or Matthew Blundell at – admin@exploregilis.com
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