Indonesia seeks approval for foreign ownership of property From News Reports: Jakart, July 30: A draft bill that would allow non Indonesians to own property in Indonesia was submitted to the House of Represenatives and the Coordinating Economic Ministry for approval last week, reports the Jakarta Post. The draft bill proposes to change a government regulation does not allow ownership of property and allows non Indonesian nationals lease of property for 25 years. The draft bill proposes that non Indonesian nationals be allowed to lease premium residential property from 50 to 60 years. The draft bill also proposes that none Indonesians are required to own a business in Indonesia in order to own property and that the non Indonesian must sell the property to the government. Association of Housing Development in Indonesia (Apersi) chairman, Eddy Ganefo said the proposal to allow non indonesians to own property violated the Agrarian Law which states that land in Indonesia can only be owned by Indonesian nationals. The Southeast Asian Times
Posted on: Tue, 13 Aug 2013 04:57:49 +0000
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