How to invest in Property in Bali
TripAdvisor voted Bali as the number one best destination in the World in 2018! This makes the island of the Gods an exciting place for expats to live, open businesses and invest. However, as with any foreign country there are certainly hurdles to cross before finding success in your dream destination.
Here are our top 4 tips for successfully investing in Property in Bali.
- Spend some time in the area you intend to purchase in; many of our clients have invested in property in Bali before fully understanding the area and local customs.
- Once you have found your dream property, invest in a thorough Due Diligence. Whether your property is for Business or Residential purposes; it’s important to ensure that you know exactly what you are investing in and its legal status. Buyers beware – Agents have been known to provide false information or half-truths to clients to invest in property that they know won’t suit their needs. Indonesia and Bali have regional regulations that can restrict everything from the amount of land you can build on to the type of business you may operate from the property. This is a small investment to avoid future problems; or an inability to use the Land for your intended purpose.
- After the Due Diligence is clear; use a legal consultant to ensure that your agreements are sound; be it to purchase or to, lease securing your investment for the future can cost you a little up front, however, we too often see agreements that do not protect clients; lean heavily towards the Landowner or do not allow for the intended purpose. If you do not use a legal consultant, we strongly advise that you select your own Notary. You can read more about the role of a Notary in Indonesia here.
- Insist on an English Translation of your agreements – if this is not provided for you, ensure that you request it so that you understand your rights and obligations. If the agreement is drafted by the seller, we highly recommend insisting on a certified translation as many of the translations that come across our desks are incomplete.
Now that you have invested in legally securing your property in Bali, it’s time to relax and enjoy the number one tourist destination in the world. There’s nothing like living in paradise!
Are you an expat living in Bali with further tips for new investors? Let us know your experience in the comments below.
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