A growing number of foreigners have found that it’s possible to buy property in Bali even on a tourist visa. While this may seem unusual, the process is fully legal under specific rules.
### The Buying Process
From a legal standpoint, non-citizens cannot own land directly in Buy Villa Bali Indonesia. However, through a legal arrangement, foreigners can purchase property under a long-term lease agreement. This gives foreigners the right to occupy the property for a fixed term, usually up to several decades, with renewal options.
For those on a tourist visa, it’s still possible to enter into such agreements. This happens as buying property in Bali doesn’t mandate a residency visa—you only need valid identification. But, it’s highly recommended that you seek help from a qualified notary or property agent to make sure the process is handled correctly.
### Understanding Leasehold Property
Since foreign buyers cannot own freehold property, the primary form of ownership for foreigners is the leasehold. This provides the foreign buyer to lease the property for a fixed duration, after which they can opt to extend the lease.
While freehold ownership isn’t available to foreigners, leasing still provides a lot of benefits. Conditions can be negotiated between the investor and the seller, and you can even transfer the leasehold rights to your heirs.
### Legal Assistance
Understanding the legal aspects can be confusing, especially for those unfamiliar with the regulations. That’s which is why working with a trusted notary and a lawyer is important. They can help you understand the details of the law and make sure that the deal is in compliance with local legislation.
It’s also advisable to work with a trusted real estate agent who has expertise in the market and has experience with foreign buyers. This ensures you avoid any pitfalls and secure a good deal on your investment.
### Why Consider Bali Real Estate?
In light of the leasehold restrictions, investing in property bali villa for sale in Bali continues to be a popular option for foreigners. Bali’s booming tourism industry, increasing real estate prices, and appealing island lifestyle make it a prime investment opportunity.
Many expats see Bali as a perfect place for holiday homes or income-generating properties. By securing proper legal support, foreigners can securely make property investments and benefit from Bali’s real estate market.
To sum up, while foreigners can’t own freehold property, there are clear ways for international buyers to invest in Bali through leasehold agreements, without needing a long-term visa.