How Russian Citizens Can Buy Property in Bali: Step-by-Step Guide
Bali has become a favorite destination for Russians, not just for vacations but also for property investment. If you’re a Russian citizen interested in buying property in Bali, here’s a step-by-step guide:
1. Understand Property Ownership Status
In Indonesia, foreign nationals can buy property through a “right to use” scheme (Hak Pakai) for up to 80 years with extensions or by entering into long-term lease agreements.
2. Find the Right Property
The next step is to find a property that matches your preferences and budget. Property options in Bali include villas, apartments, and land plots. You can search for properties through websites like www.bobbysumantri.com.
3. Hire a Local Lawyer
Due to the differences in legal systems, it’s essential to hire a local lawyer experienced in property law. They will help you verify the legality of the property and ensure all documents comply with local regulations.
4. Check Documents and Permits
Make sure the property has the necessary certificates and permits. The property’s title or other relevant documents should be carefully checked to avoid any legal disputes in the future.
5. Choose a Purchase Scheme
As a foreigner, you can opt for either the right to use (Hak Pakai) scheme or a lease agreement. For more flexibility, you might consider a lease lasting up to 30 years or longer, which can be extended.
6. Payment Process
Payments are made according to the agreement with the seller. Typically, a down payment is made after the initial agreement, with the remaining balance paid once all documents are finalized.
7. Register the Property
After payment, the property should be registered under your name or under a company you establish in Indonesia. This is crucial to secure your rights as the legal owner.
By following these steps, you can legally and safely own property in Bali. How Russian Citizens Can Buy Property in Bali: Step-by-Step Guide