Thread: Nominees & Notary questions

Just a question for clarification: Recently it was mentioned to me that:

1. Nominee: must be an Indonesian citizen (obviously) but ALSO should be resident in Bali - a different conversation had it that the nominee could be resident anywhere (even overseas). Obviously it is probably advisable that the Nominee be a Bali resident, but is it a requirement - could there be any barriers, delays etc expected were they not?
2. Nominee: the going rate of nominee compensation seems to vary: on one hand I've heard 1% on purchase & 1% on any subsequent sale.... on the other hand the figure of 5-7% was also mentioned. Obviously the arrangement varies between the nominee & foreign buyer, but what's the current going rate?
3. Notary - again, I've been told that the Notary must be resident in the Regency in which the property is located - correct?

Just lining up the ducks ;)

Hi Shoggard,

not 100 % sure but that's my experience:

1. a notary must be indonesian citizen (same as lawyers must be officially indonesian citizen), they apply for a notary license let's say in Badung but Badung is full (so probably has to wait) so maybe they get a license for Jembrana where they have their official address (but still do semilegal business somewhere else), if you purchase property in a kabupaten a notary from this district MUST sign, you CANNOT buy a land in Buleleng f.e. with a notary from Tabanan.
2. Nominee: this is very easy - all up to you, legally you can give your nominee 0% or 20 %, doesn't matter but both parties must agree & sign
3. Notary: with all respect but a lot of them playing & talking nonsense, if they get "catched" they acting like kids "hey just trying", extra-fees where they keep most of the money, buyer / seller tax based on the purchase price....crazy things like this