HOW TO ACQUIRE PROPERTY IN LOMBOK
Under
indonesian law foreigners are not permitted to have property title in
indonesia. How ever foreign individuals can legally acquire property in
indonesia and enjoy full beneficial right.
We always recommended
to clients that they should secure the best legal advice when securing
property in lombok this is a summary of the various alternatives:
1.
Enter into a legal arrangement with an indonesian nominee, either an
individual or a pt company, where by he / she or corporation hold the
title of the property simultaneously, completes power of attorney,
handing over full right from indonesian entity to the foreign investor.
2. Make a lease held investment in the property up to 25 years.
Partnership with indonesian citizens are not required in lease hold
transaction. This method does offer complete protection to the
foreigner during the term of the lease, how ever once the lease term
has expired the agreement can be extended mr the property reverts to
the owner.
3. Form a foreign investmeant company (PMA) here the
foreigner can own the company 100% and the title of the property will
be in the company name. How ever title in this case could only last for
20 or 30 years as PMA companies have to re apply to the indonesian
government to extend their license.
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