The recently passed Job Creation Law enables foreigners to own apartments in certain areas, a relaxation of previous property ownership regulations that is expected to boost demand in the cooling property industry.
Article 144 paragraph 1 of the jobs law stipulates that ownership rights for apartments can be granted to foreigners, foreign legal entities and representatives of other countries or international organizations in Indonesia, in addition to Indonesians and Indonesian legal entities.
Other regulations, such as the Agrarian Law and Agrarian and Spatial Planning Ministerial Regulation No. 29/2016, allow only Indonesians to own apartments under full ownership rights, while foreigners can possess property under the right of use.
The omnibus law’s explanation of the article states that full ownership rights for foreigners and foreign entities on...
Starting from IDR 55,000/month