Bali Property Seminar: "The Nominee Krisis - Indonesian Land Law for Foreigners

[Susi Johnston]

Coming up during the week ahead. See attachment. forum_flyer_english.jpg

[waarmstrong]

This "seminar" is more likely just an opportunity for sponsors with a pecuniary interest in down-playing the risk of using a nominee to pad their potential foreign buyers list.

[LamaSekali]

The path forward is "don't use nominees".

[PeteD]

This "seminar" is more likely just an opportunity for sponsors with a pecuniary interest in down-playing the risk of using a nominee to pad their potential foreign buyers list.

From what I understand, and perhaps Susi should add to this, but it's to explain that the nominee system used by foreigners to purchase property in Indonesia is illegal and the seminar should point out that the only way for a foreigner to legally have property in Indonesia is by lease agreement only.

[waarmstrong]

As I understand the nominee system, it is not expressly prohibited by Indonesian statue. That being said, experiences described on-line, including some referenced in this Forum, suggest it is an extremely risky proposition for foreigners. Should problems arise there is essentially no recourse in practice.

Those sponsoring the "seminar" are entities which profit from the sale of property to foreigners. Any view, information imparted is going to be colored by that vested interest.

[PeteD]

Those sponsoring the "seminar" are entities which profit from the sale of property to foreigners...

Oh I see, I just looked at the flyer and now see who this seminar is being sponsored by.

[waarmstrong]

The fine print usually tells a somewhat different story than the headlines.

[Missnaughty]

Buy timeshare or condotel with buy back guarantee l.. best you can do..

[Jaime C]

Buy timeshare or condotel with buy back guarantee l.. best you can do..

Uh huh. And when the developer goes under, what happens to that guarantee?

[ScooterIndo]

So many people fall for "loophole" in the law that "allows you to own your own property in Bali" I have met the young kids paid to give out the leaflets here and they get quite pissy when you explain foreigners cant own property here. I pity the people that fall for the spiel.

[macvert]

Uh huh. And when the developer goes under, what happens to that guarantee?

dunno about the guarantee but you do get to keep the set of steak knives

[Missnaughty]

Uh huh. And when the developer goes under, what happens to that guarantee?

The beauty of Indonesia... no one ever know the ending of the story, even if it is written black on white.

[lantern]

From Nusa Lembongan 2011

[Jaime C]

dunno about the guarantee but you do get to keep the set of steak knives

Hopefully, they're a Ginzu set.

[waarmstrong]

The "cliff" frontage seems appropriate; perfect place to step off once your money and land title evaporate.