Due to a recently-promulgated regulation on 28 December 2015, Leks&Co conducted a presentation and discussion on Foreigner Ownership of House or Residence. The discussion is limited to the firm's existing valuable clients and colleague.
The new regulation is government regulation number 103 of 2015 (GR). The new GR is already effective since 28 December 2015. This GR was promulgated due to request by various entrepreneurs bodies, essentially Real Estate Indonesia organization. The discussion covers subject, object, terms and conditions, interpretation on permit residence, termination of the ownership, general issues, conflicting regulations whether horizontally or vertically.
Some essential notes during the discussion are the issue on how to prove the residential permit by the foreigner, on inheritance, conflicting period of right of use with the existing regulation of 1996, and whether or not this GR can be properly implemented by the land officer. Other important notes are the fact that real estate developer sees this GR as not effective since most developers are still targeting Indonesian as the buyer of its retail properties.
If you have any questions in relation to this GR, please send your query to email@example.com