Buying Property in Bali as a Foreigner – If you’re a foreigner dreaming of the perfect property in Bali, now your dream is within reach! With just a visa in hand, you can now own property in Bali – no hassle with additional documents. If you’re a foreigner dreaming of the perfect property in Bali, now your dream is within reach! With just a visa in hand, you can now own property in Bali – no hassle with additional documents. So, if you’ve ever imagined of owning a property in this tropical paradise, there’s never been a better time to turn that dream into a tangible reality.
Before deciding to buy property in Bali as a foreigner, it’s essential to understand the basics of property ownership. In Indonesia, there are two primary types of property ownership: Freehold and Leasehold. Freehold allows you to own the property and the land it sits on indefinitely, while Leasehold grants you the right to use the property for a specified period, typically 25 or 30 years.
Based on the recent update from the Ministry of Agrarian Affairs and Spatial Planning/National Land Agency through Government Regulation No. 18/2021, foreigners are now empowered to acquire property in Indonesia with ease. This groundbreaking regulation eliminates the necessity for a Limited Stay Permit Card (KITAS) or a Permanent Stay Permit Card (KITAP). This new law not only simplifies property acquisition just by showing passport but also boosts Indonesia’s competitive edge among neighboring countries.
Furthermore, Government Regulation No. 18/2021 broadens the scope of property ownership options for foreigners, particularly in apartments. With just a passport, individuals can now access rights such as Hak Pakai (right to use) or Hak Guna Bangunan (right to build) on various types of land, including state-owned, property rights, and management rights land (HPL).
However, it’s crucial to note that passport validity is a key requirement, mandating a minimum validity of 36 months from the purchase date. Additionally, specific criteria regarding land size and minimum property price apply. While individuals can own a single plot of land, it must not exceed 2000 m2. Moreover, minimum prices for property acquisition are set, with landed houses available for purchase starting at IDR 5 billion ($315,000) and flats/apartments at IDR 2 billion ($126,000). This landmark regulation marks a pivotal moment in Indonesia’s real estate landscape, fostering accessibility and opportunity for both domestic and international investors alike.
Look no further! With 15 years of experience in Real Estate Development, Kanaan Land creates exceptional properties that deliver excellence in design, quality, investment potential, and ease in the payment process. Our end-to-end legal and financial services ensure a seamless and secure transactions for your peace of mind.
Conclusion: Buying property in Bali as a foreigner has become more accessible with recent regulatory changes. The updated Government Regulation No. 18/2021 allows foreigners to acquire property with just a passport, eliminating the need for additional permits. However, it’s essential to consider passport validity, land size criteria, and minimum property prices. If you’re eager to buy property in Bali seamlessly, Kanaan Land, with 15 years of experience, offers excellence in design, quality, and a secure transaction process.
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