Hi, I have posted a couple of times about investing in a business in Bali and am now on the lookout for more advice and opinions from the knowledgable people on this forum. Am also posting this on a couple of other forums.
I would be looking to buy into a tourist-related business (I know, don’t laugh yet). I’m a Brit if that makes a difference
My potential business partners are some old family friends who have lived here for about 10 years and their Indonesian partner. They say that, to help cut down on tax, the Indonesian chap is legally the registered owner of the business (and incidentally their home here) and they have an “overarching contract” with him to ensure that their interest in the business is registered. They tell me this is normal practice here and preferable to setting up a PMA.
Being slightly less besotted with Bali than my friends appear to be, this sounds insanely dodgy to me, particularly given the precedence Indonesians appear to take in most legal disputes here. I’ll be meeting this potential partner later in the week and am wondering if anyone can suggest specific questions I might ask during this meeting to clarify the exact position. Or if anyone has any idea what he might be up to, that would also be great.
I would be looking to buy into a tourist-related business (I know, don’t laugh yet). I’m a Brit if that makes a difference
My potential business partners are some old family friends who have lived here for about 10 years and their Indonesian partner. They say that, to help cut down on tax, the Indonesian chap is legally the registered owner of the business (and incidentally their home here) and they have an “overarching contract” with him to ensure that their interest in the business is registered. They tell me this is normal practice here and preferable to setting up a PMA.
Being slightly less besotted with Bali than my friends appear to be, this sounds insanely dodgy to me, particularly given the precedence Indonesians appear to take in most legal disputes here. I’ll be meeting this potential partner later in the week and am wondering if anyone can suggest specific questions I might ask during this meeting to clarify the exact position. Or if anyone has any idea what he might be up to, that would also be great.