Govt Relaxes Foreign Homeownership Requirement

By Editorial Team 04/08/2023
property investors
Summary

Indonesia has rolled out a series of regulations to make it easier for foreigners to purchase houses in the archipelago.

A government official said foreigners have to show only a passport to buy a house or residential unit in Indonesia. They do not need to have long stay or permanent stay permits, known as Kitas and Kitap.

"We used to ask foreigners for their Kitas and Kitap before they could buy a house. But they only need to submit a passport or visa to own a property in Indonesia. We will issue their Kitas/Kitap after they purchase a property," Suyus Windayana, the Secretary-General at the Spatial Planning Ministry, told a forum in Jakarta on Thursday.

Suyus said foreigners typically own a house through nominees. In other words, foreigners would have a local to buy property on their behalf.

These are common practices in Bali, the most popular tourist destination in Indonesia. However, such a scheme would make it harder for government to monitor foreign property ownership.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.