Foreigner Property Right of Use for 70 Years

Foreigner Property Right of Use for 70 Years

National Land Agency (BPN) and State Ministry for People’s Housing had agree to give property right of use for foreigner altogether for 70 year with some following requirements.

The agreement is an effort to increase economic side of property industry, so its possible to get foreign currency and capital to Indonesia.

M Yusuf Asy’ari, State Minister for People’s Housing (04/16) said his ministry had agree with head of BPN to made revision on government regulation revision on Land Rights, Foreign Ownership and Law on Basic Agraria Provision, to allow for foreigner to get right of use for 70 years altogether, on previous regulation, foreigner could get the rights of use in 3 phase.

But there are two conditions that followed. first, the developer must be an Indonesian company and the developer have an obligation to develop Low Cost Ownerswhip Flat (Rusunami).

The revision also include the stipulation that the foreigner could buy property on the fourth level and up, for the level below its for Indonesian citizen.

This revision not include landed house.

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