“The Indonesian Government has issued Regulation No.103 of 2015 to regulate the limited ownership of property by the expatriate”
In December 2015, the Indonesian Government has issued the Regulation No. 103 of 2015 to regulate the limited ownership of property by the expatriate who lives in Indonesia. Here are four important things that expatriate should know from the Regulation:
First, foreginer who can acquire property in Indonesia must obtained stay permit first and need to maintain their stay permit during their title ownership period.
Second, foreigner only has limited-time ‘ownership’ of the house in Indonesia by using the Right of Use Title. The right of having the single house will only be given for 30 years period and can be extended for 20 years. If the period has been expired, the right can be renewed maximum only for another 30 years period.
Third, the Right of Use Title can be inherited to the heir of the foreigner has passed away.
Fourth, the foreigner should release the right one year after he or she does not live in Indonesia anymore.
Fifth, for Indonesian Citizen which had entered into a mixed-marriage life without marriage agreement, this regulation has open a limited possibility to acquire a property that matches the criteria as mentioned in the above regulation.
ELSON Indonesia is a company that focus on providing comprehensive legal solution for expatriates, foreigner, and mix marriage couple in Indonesia.
Phone: 0819 3274 1 333