Bali and Islands Real Estate - Land For Sale Bali - Land For Sale Lombok

PRLog (Press Release) - Mar. 3, 2012 - Rippling across the equator for nearly 5000km, Indonesia encompasses more than 17,500 islands, two-thirds of which are inhabited and richly layered with character. The resorts and restaurants of Bali, pamper the idle while at the same moment backpackers are adopted by homestays in Lombok.

Sumbawa, with its surf culture is volcano territory and nearby Flores with pristine islands and beaches is also adjacent to the famed Komodo dragons.

Sumba beckons with its animist society and rituals and the annual Pasolo where horses and men pit their skills.

Indonesia's cities are in a constant state of urban evolution, where dense populations, technology and construction live in hectic symbiosis. But most of the archipelago's territory remains unexplored, concealing a wealth of cultures and a myriad of landscapes. Brilliant green rice fields and ancient kingdoms have brooding volcanoes as neighbours.

Maluku's alabaster beaches and desert islands remain ecologically beautiful; the jungles of Sumatra, Kalimantan and Papua are zoological wonders, revealing impish monkeys, stoic sun bears, leopards, orang-utans and remarkable marsupials.

And then there are the unforgettable, exquisite but entirely unexpected; impromptu English lessons with school children, instant friendships in busy warungs and reflective moments in the many temples … In Indonesia there is plenty of cause to pause, except when dodging hurtling traffic.

Wish to buy a slice of this paradise?

Types of Title

There are a number of different types of title in Indonesia:

Freehold or Hak Milik only be held by an Indonesian citizen or permanent resident.

Leasehold or Hak Pakai (essentially leasehold title) and other forms of title can be held by a P.T. or PMA Company Foreign Investment Company.

A non-Indonesian citizen cannot own land in Indonesia but can acquire a leasehold title to a building.

There are a number of ways to invest in land and buildings in Indonesia and the two most common are

Using a Nominee

The Nominee will sign four documents with the foreigner as follow:

A Right of Use agreement: allows the foreigner to use the land.

A Statement Letter: where the Nominee acknowledges the foreigners loan and intention to own the land.

Power of Attorney: The nominee signs an irrevocable Power of Attorney giving the foreigner the complete authority sell, mortgage, lease or otherwise deal in the land.


Using a foreign investment company or PMA

The most significant change in Indonesian investment law came in 1997 when the government introduced the PMA (Penanaman Modal Asing or Foreign Investment Company). This allows foreign investors to set up a company in Indonesia, without having to have Indonesian partners. The PMA can be 100% owned by the foreign investor.

Transaction Fees

Notary: 1% of the value of the transaction.

Vendor Tax & Purchaser Tax: Both the vendor and purchaser pay 5% tax on the value of land and property sales.

Mortgage Certificate: 1% of value of mortgage.

Source : http://www.baliandislandsrealestate.com

Photo:
http://www.prlog.org/11815003/1