A growing number of foreigners are discovering that it’s possible to invest in real estate in Bali while holding a tourist visa. Though this might appear surprising, it’s entirely legal under certain conditions.
### How It Works
Technically, foreigners are not allowed to legally own land in Buy Villa Bali Indonesia. However, through a legal arrangement, foreigners can purchase property under a long-term lease agreement. This grants international buyers the ability to occupy the property for a fixed term, typically up to 25 or 30 years, with options to renew.
For those on a tourist visa, there’s still the opportunity to engage in these arrangements. This happens as buying property in Bali doesn’t mandate a long-term visa—you only need valid identification. But, it’s highly recommended that you work with a qualified notary or professional real estate agent to make sure the process is handled correctly.
### Leasehold vs Freehold
Since foreign buyers cannot own freehold property, the primary form of ownership for foreigners is a leasehold arrangement. This provides the foreign buyer to lease the property for a fixed duration, after which they can opt to extend the lease.
While freehold ownership isn’t available to foreigners, a leasehold agreement still provides a lot of benefits. Conditions can be worked out between the buyer and the seller, and you can even pass on the lease to family members.
### Legal Assistance
Understanding Indonesian property law can be complex, particularly for foreigners. That’s which is why working with a trusted notary and legal expert is crucial. They can guide you through the specific regulations and ensure that the property transaction is fully compliant with Indonesian law.
It’s recommended to hire a qualified property agent who understands Bali’s real estate market and is experienced in handling foreign clients. This will help you stay clear of common issues and get the best deal on your property purchase.
### The Benefits of Buying Property in Bali
In light of the leasehold restrictions, investing in property Buy Villa Bali in Bali continues to be a popular option for foreigners. Bali’s growing tourism sector, rising property values, and appealing island lifestyle make it a prime investment opportunity.
Many expats see Bali as a perfect place for holiday homes or income-generating properties. With the right legal assistance, foreigners can securely purchase property and enjoy the gains of Bali’s growing property market.
To sum up, while foreigners can’t own freehold property, many are discovering legal pathways for foreigners to acquire property in Bali using the leasehold system, even with a long-term visa.