Hi,
thanks for reading my post.
i am new to the group as recently discovered the forum whilst trying to seek information regarding purchasing a villa in Bali.
Im hoping someone can help me with the mind numbing complexities of purchasing in Bali. Every day I learn something new!
To cut a long story short I would like to purchase a villa in Bali for my own use approx 2 months a year and then let it for holiday rentals for the rest.
I have found a potential property yet now it becomes complex To unravel what u can and can’t do.
Below are any points I understand or lack information and please help where needed:
1. Property is leasehold for 24 years with possibility to extend - I would like to negotiate already another 6 years to make 30.
2. Advised to create a Limited company PMA in order to purchase and be registered in order to pay taxes on any rental income.
3. The property is in yellow zone (residential) - can you rent daily vacation in yellow zone as I have read only long term yet was advised it is possible to do short term? Is it possible to change? I studied a zoning map and appears red zoning (commercial) is only mostly next to beach?
4. Do you need a Pondok Wisata as this seems very complex? Can you obtain with yellow zone and a foreigner? Again advised not needed but maybe that is in reference to long term rentals?
5. i asked regarding is the IMB license in place and advised it would be ready in 1-3 months. The real estate agent advised it has been issued and has proof of the ticket? I don’t really understand. Is it possible to register and then certificate is later?
the process is completely new to me so naturally being very cautious as I do not want to buy a villa that is useless to me. So much property seems to be being built with a fast process I want to make sure my information is correct And do not get stuck in a transaction that is not finalised with all certification etc.
Appears to be many contradictions or different information regarding zoning rental, Pondok Wisata and license.
any help will be extremely appreciated.
best
`Kevin
thanks for reading my post.
i am new to the group as recently discovered the forum whilst trying to seek information regarding purchasing a villa in Bali.
Im hoping someone can help me with the mind numbing complexities of purchasing in Bali. Every day I learn something new!
To cut a long story short I would like to purchase a villa in Bali for my own use approx 2 months a year and then let it for holiday rentals for the rest.
I have found a potential property yet now it becomes complex To unravel what u can and can’t do.
Below are any points I understand or lack information and please help where needed:
1. Property is leasehold for 24 years with possibility to extend - I would like to negotiate already another 6 years to make 30.
2. Advised to create a Limited company PMA in order to purchase and be registered in order to pay taxes on any rental income.
3. The property is in yellow zone (residential) - can you rent daily vacation in yellow zone as I have read only long term yet was advised it is possible to do short term? Is it possible to change? I studied a zoning map and appears red zoning (commercial) is only mostly next to beach?
4. Do you need a Pondok Wisata as this seems very complex? Can you obtain with yellow zone and a foreigner? Again advised not needed but maybe that is in reference to long term rentals?
5. i asked regarding is the IMB license in place and advised it would be ready in 1-3 months. The real estate agent advised it has been issued and has proof of the ticket? I don’t really understand. Is it possible to register and then certificate is later?
the process is completely new to me so naturally being very cautious as I do not want to buy a villa that is useless to me. So much property seems to be being built with a fast process I want to make sure my information is correct And do not get stuck in a transaction that is not finalised with all certification etc.
Appears to be many contradictions or different information regarding zoning rental, Pondok Wisata and license.
any help will be extremely appreciated.
best
`Kevin