Many foreigners have found that it’s possible to buy property in Bali even on a tourist visa. While this may seem surprising, the process is fully legal under certain conditions.
### The Buying Process
From a legal standpoint, foreigners cannot legally own land in bali villa for sale Indonesia. However, through a legal arrangement, non-Indonesian buyers are able to acquire real estate under a long-term lease agreement. This grants international buyers the ability to use the land for a fixed term, typically up to several decades, with renewal options.
For those in Bali with a tourist visa, it’s still possible to engage in these arrangements. This is because buying property in Bali doesn’t require a residency visa—you only need valid identification. But, it’s highly recommended that you work with a reputable notary or property agent to ensure the process is handled correctly.
### Leasehold vs Freehold
Since foreign buyers aren’t allowed to buy freehold, the most common legal structure for foreigners is a leasehold arrangement. This allows the foreign buyer to lease the property for a long-term duration, after which they can opt to extend the lease.
Owning property outright isn’t available to foreigners, a leasehold agreement still offers a lot of benefits. The terms can be negotiated between the buyer and the landowner, and you can even pass on the lease to your heirs.
### Legal Assistance
Navigating the legal aspects can be confusing, particularly for those unfamiliar with the regulations. That’s which is why consulting a reliable notary and a lawyer is crucial. They can guide you through the details of the law and ensure that the property transaction is in compliance with Indonesian law.
It’s also advisable to work with a qualified property agent who understands the market and has experience with foreign buyers. This ensures you stay clear of common issues and get the best deal on your investment.
### Why Consider Bali Real Estate?
Despite the leasehold restrictions, investing in property bali villa for sale in Bali remains highly attractive for international investors. The island’s booming tourism industry, increasing real estate prices, and tropical lifestyle turn it into a prime investment opportunity.
A number of expats see Bali as a perfect place for holiday homes or income-generating properties. With the right legal assistance, international buyers can safely make property investments and benefit from Bali’s real estate market.
To sum up, while foreigners can’t own freehold property, many are discovering legal pathways for foreigners to acquire property in Bali through leasehold agreements, even with a residency permit.