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| NOMINEE, PMA METHOD, AND FOREIGNER'S NAME ON LAND |
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A. Quite often a fee is required by the nominee, either at the start of the arrangement and/or at the end, if and when you sell the property. In any event your legal adviser should draw up a written agreement between you and your nominee covering the terms of your arrangement. You will need to identify an Indonesian individual who is willing to act as your nominee.
B. You will need an attorney and/or notary to create a PMA company duly license to do business in Indonesia. This company may be owned 100% by foreigner(s) and has the right to owned 100% of your land and/or building in Indonesia.
C. The 100 years ownership is also provided as the SAFEST method for Foriegners to own property in Bali.
NOMINEE METHOD
You will need to identify an Indonesian individual who is willing to act as your nominee. Quite often a fee is required by the nominee, either at the start of the arrangement and/or at the end, if and when you sell the property. In any event your legal adviser should draw up a written agreement between you and your nominee covering the terms of your arrangement.
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Status Of Property In Bali
The first step in any property acquisition is to have both the buyer and seller sign an ‘akte jual beli' or ‘binding sale agreement'. This document will lock in both parties whilst the certificates are being prepared.
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PMA METHOD
In 1997 the Indonesian Government introduced the PMA program (Penanaman Modal Asing or Foreign Investment Company) to encourage overseas investment.
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