Bali, with its captivating beauty and vibrant culture, presents a wealth of opportunities in real estate for foreign investors like you.
When exploring real estate in Bali, a key question arises: What about ownership options? This is where Business Code 68111 comes into play, specifically designed for setups in Bali’s real estate market.
Under this code, foreign investors have the option to either own the property outright (Hak Milik) or rent it through a registered lease agreement for at least 5 years.
This code greatly simplifies the process and streamlines regulations for those seeking to invest in real estate in Bali, turning the dream of owning property in paradise into a more accessible reality.
Table of Contents
- What You Need to Know About Ownership or Long-Term Lease Real Estate for Foreign Owned Company, Establishment in Bali, Indonesia (KBLI Code : 68111)
- Understanding the Risk Level of Real Estate Owned or Rented in Bali, Indonesia for Foreign Owned Company Establishment (KBLI Code : 68111)
- Is a license required for Real Estate Owned or Rented in Bali, Indonesia for Foreign Owned Company Establishment? (KBLI Code : 68111)
- How to obtain the license for Real Estate Owned or Rented in Bali, Indonesia for Foreign Owned Company Establishment? (KBLI Code : 68111)
- Resources
- Frequently Asked Questions
What You Need to Know About Ownership or Long-Term Lease Real Estate for Foreign Owned Company, Establishment in Bali, Indonesia (KBLI Code : 68111)?
Business Code 68111, according to OSS, covers a broad spectrum of real estate activities.
It includes buying, selling, leasing, and operating real estate, whether owned or rented. This code applies to various property types, from homes and apartments to non-residential structures like storage facilities, malls, and shopping centers.
It also involves providing furnished or unfurnished houses, flats, or apartments for permanent use, whether on a monthly or yearly basis.
This code extends to activities such as land sales, developing and leasing independent buildings, subdividing real estate into land plots without further development, and operating areas with relocatable homes.
It encompasses the sale of land, constructing and self-operating buildings, subdividing real estate into land plots without development, and running residential areas for relocatable homes.
In summary, Business Code 68111 covers a diverse range of real estate operations, creating a comprehensive framework for businesses in the dynamic property market. It caters to both residential and non-residential ventures, offering solutions for various accommodation needs.
Understanding the Risk Level of Real Estate Owned or Rented in Bali, Indonesia for Foreign Owned Company Establishment (KBLI Code : 68111)
Navigating Bali’s real estate for PT PMA under Business Code 68111 involves a medium to low-risk evaluation.
Risks are tempered by a stable market and rental flexibility.
Bali’s growing real estate market presents growth opportunities with manageable risks, making it enticing for PT PMA establishment.
Is a license required for Real Estate Owned or Rented in Bali, Indonesia for Foreign Owned Company Establishment? (KBLI Code : 68111)
Yes, a license is still required for real estate owned or rented in Bali for PT PMA establishment under Business Code 68111.
However, the licensing system has transitioned from the Developer Registration System (SIRENG) to the Real Estate Business Certificate (SURE).
How to obtain the license for Real Estate Owned or Rented in Bali, Indonesia for Foreign Owned Company Establishment? (KBLI Code : 68111)
Register your PT PMA for real estate activities in Bali under Business Code 68111, you need to go through the SURE registration process.
Here’s how:
- Visit the SURE website
- Create an account and proceed with the registration process.
- Select the appropriate business activity category that aligns with your PT PMA’s real estate involvement (e.g., development, leasing, management).
- Complete the required forms and upload necessary documents. This may include your PT PMA establishment documentation, proof of ownership/rental agreement, and other relevant information.
- Pay the applicable fees.
- Submit your application and wait for approval.
Resources:
- Online Single Submission System (OSS): (Provides general information on PT PMA establishment and licensing requirements)
- Ministry of Public Works and Housing (PUPR): (Manages the SURE licensing system)
- Investment Coordinating Board (BKPM): (Provides assistance and information for foreign investors)
- Indonesia Property Society: (Industry association for real estate professionals)
- Bali Tourism Board: (Official website with industry updates and resources)
- Indonesia Tourism Development Corporation (ITDC): (Information on Bali’s tourism industry and regulations)
- Bali Business Consultants: (Search for companies offering business consulting services in Bali)
Frequently Asked Questions
- What does Business Code 68111 encompass for real estate activities in Bali under PT PMA?
Business Code 68111 covers a broad spectrum, including buying, selling, leasing, and operating real estate, whether owned or rented.
- Can I choose between owning and renting property under Business Code 68111 in Bali?
Yes, Business Code 68111 allows flexibility, allowing investors to choose between outright ownership (Hak Milik) or a registered lease agreement for at least 5 years.
- What types of properties fall under the scope of Business Code 68111 in Bali?
Business Code 68111 includes various property types, from residential buildings like homes and apartments to non-residential structures such as storage facilities, malls, and shopping centers.
Contact us for information on real estate investment opportunities in Bali for foreign companies
