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Leasing a business
G'Day crew, Im looking into the possibilities of selling up in Australia and leasing a botique villa complex in Canggu to run as a live in business. Can anyone explain to me... in simple terms! The deal with a foriegner leasing a long term venture? From what I understand, owning a freehold outright is quite tricky to do.
Cheers
Adam
Maybe you need to explain a little more what problems or questions you have. Obviously you will need a notary to prepare the lease documents. You need to think about everything you want included in the contracts to cover every scenario you can think of. Do you have the right to sublease? etc.Can anyone explain to me... in simple terms! The deal with a foriegner leasing a long term venture
Tourism is going strong now, so it makes you wonder why an owner would want to lease their business to someone else.
What occupancy rate are you projecting and how will you get customers in the doors. Many things you need to think about.
What happens when the lease ends? You can buy freehold property through a PMA which is something you might want to think about.
Give a man a fish and he will eat for a day. Teach a man to fish and he will sit in a boat drinking beer all day.
Thanks for the reply, I have found some info on ways of owning/leasing in Indo so Im up to speed with that now. As to why the owner wants to lease, thats something I will be definantly looking into. Im trying not to be starry eyed, but the thaught of brinking cold Bintangs at my own bar with guests staying at my place after surfing all day seems to be clouding my judgment a bit at the moment!Originally Posted by spicyayam
You need to remember that it will be impossible to get a working visa even to allow this.the thaught of brinking cold Bintangs at my own bar with guests staying at my place after surfing all day
Also check out the reviews of the place if they are listed on Trip Advisor. It will give you an idea of what guests say about the hotel.
Give a man a fish and he will eat for a day. Teach a man to fish and he will sit in a boat drinking beer all day.
[QUOTE=spicyayam;59719]You need to remember that it will be impossible to get a working visa even to allow this.
Then how do all the other places owned by expats do it then?
Either their Indonesian spouse manages the business or they have a working visa. To get a working visa you need to prove you are doing a job that a local cannot do.
Give a man a fish and he will eat for a day. Teach a man to fish and he will sit in a boat drinking beer all day.
between 9.24 and 12.17...you're up to speed on indonesian.balinese propertylaws, amazingly quick
no doubt you're judgement is very clouded at the moment, dreaming of drinking beer in your own bar at a boutique villa complex...
don't read between the lines..i think the words are clear enough...:)
Im a quick learner....between 9.24 and 12.17...you're up to speed on indonesian.balinese propertylaws, amazingly quick
no doubt you're judgement is very clouded at the moment, dreaming of drinking beer in your own bar at a boutique villa complex...
ChefAdam
Let us know a little more about your idea, as we are a friendly bunch & we maybe able to help you around the pit falls.
You will never be allowed to own land in Indonesia, even if your name is god & you have a PMA. forget this Idea.
There are a few different ways to lease but depends on your budget.
Most people start a company with a local to keep the cost down, you will be a director of the company, this will get your kitas, not a working permit, but as a director you can over see the operation of your business, thats why you will be sitting at the bar
[QUOTE=Fred2;59768]ChefAdam
Let us know a little more about your idea, as we are a friendly bunch & we maybe able to help you around the pit falls.
Ok, well the idea is.... I have found a small botique hotel for lease in Canggu with 9 rooms and an owners villa for AUD500K. The lease runs out in 2025 with a supposed garuntee of an extension. I wont be jumping up and down to take it but will be doing so with something similar in 5 years or so once I have start up capital. Basicly, I would want to run the hotel, while employing Indo staff with my partner and live there till I could either pfofitably sell the lease or die, which ever comes first. We have both run similar things in Oz so marketing etc wouldnt be a problem. The problem more lies in the fact that we have NO idea on how to go about leasing a property and the visa situation that would enable us to stay a good 25 years.
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