Tinkerbelle
Are Australian citizens allowed to own more than one house in Bali (having an Indonesian as title holder)?. I have seen some cheap houses in Bali and was wondering if you owned 2 or 3 houses you could use one as your own for holidays and family etc and rent the other 2 out. Then when you can retire at 55 on the retirement visa could you live there and still have the houses that you rent out as money to live on as from an investment as I see you are not allowed to work on a retirement visa?. I like the idea of retireing at 55 but would be back and forth from Perth and Bali. Any help would be appreciated thanks!
Tinkerbelle
Thanks Allan, house prices here in Perth are ridiculous. Thats why I thought I could over the next 3 years buy 3 houses in bali retire there live in one house and collect rent from the other two. This would then give me some (little) money to live on and also cash in my super here in Australia. I would want to be in Perth for half the year for my kids then Bali for the other half. I was just at a loss as to what job I could have if I was to live in bali. Also a job that gave me 6 months off to be back in Perth. Not sure how much rent I would get from a house there so still looking into it.
Tinkerbelle
Can anyone let me know what land water taxes expenses are per year on a house you own ta?.
SanurGirl
1. Nameholder. Here we go again. Indonesian law does not recognise beneficial land ownership rights. Especially if a Kuasa Mutlak has been used as part of the structure, expect problems.
2. A BUSINESS in Indonesia may be operated as a PT, CV or UP. In all cases it must have a license for the stated purpose of business operations and it must (As in any country including Australia) pay tax. Not unreasonable?
As the moderator of a form such as this I think you need to be more careful advisng folks with even less knowledge than yourself.
SanurGirl
[b]Re: RE: Query on renting out houses for investment in Bali.[/b]
[quote=Allan]As far as I know there's nothing wrong with your plan. Sounds like a good idea to me given how overblown the Australian (and especially the Perth) property market is. Median house prices at 13 times median earnings are the highest in the Western world and over the top in my opinion.
Of course you have to consider all the usual investment risks as well as those of trying to manage assets in a foreign country. :wink:[/quote]
Alan is, I know from previous exchanges, truly omnipotent and right about everything. But it seems to me to be totally irresponsible not to observe that, according to many of my friends over in Badung, that there is a MAJOR crackdown at present by the local tax authorities on unregistered "Commercial villa operations". As it would be impossible for a foreigner to obtain a license to operate legally without a PMA/FDI Company (For which at present approvals are not being granted for other than highly capitalised genuine hotel investments), it should be noted to this poor innocent that there is a lot more than "The usual investment risk", in itself a very complex issue.
Perhaps Alan should spend a little less time in Melbourne if he is to provide reasonable moderation of a forum for "Bali Expats"?
Jimbo
Sanur Girl
I have not got your knowledge on the local law but by observation many indonesians rent out property without it being a business. My brother in law being one of them. Perhaps you are talking about renting out "villas" as opposed to ordinary properties.
I already öwn"a house in Indonesia and I am thinking also of buying at least one moore and renting it out to provide an income. I cannot see that it will be a proble as I will use a brother in law as a proxy.
I would laso respectfully request that pontificating in the agrressive manner you have used does not help Tink who asked the question. No disrespect intended.
