Our Managing Partner, Eddy Leks wrote an opinion in The Jakarta Post, 20 October 2016, titled “Chaotic Real Estate Rules for Foreigners”.
The agrarian and spatial planning minister, recently issued Regulation No. 29/2016 on procedures for the issuance, relinquishment or transfer of rights over house or residence ownership by foreigners domiciled in Indonesia (Permen 29). Permen 29 revokes a previous ruling promulgated early this year. Nevertheless, Eddy Leks views that Permen 29 causes chaos and even deviates from the expected harmony due to alteration of terminology from “right of ownership” over condominium unit to “right of use”. Please read his opinion to find out more.