The just recently passed Task Development Law allows foreigners to own apartment or condos in certain locations, a relaxation of previous property ownership guidelines that is anticipated to enhance need in the cooling residential or commercial property industry. Post 144 paragraph 1 of the jobs law states that ownership rights for houses can be granted to foreigners, foreign legal entities and representatives of other nations or worldwide companies in Indonesia, in addition to Indonesians and Indonesian legal entities. Other guidelines, such as the Agrarian Law and Agrarian and Spatial Planning Ministerial Policy No. 29/2016, enable just Indonesians to own apartments under full ownership rights, while foreigners can possess residential or commercial property under the right of usage. The omnibus law’s description of the article mentions that complete ownership rights for immigrants and foreign entities only apply to houses l.
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