Diversity of Land Rights and Restrictions on Foreign Ownership of Proferty in Indonesia
| Main Author: | Sumanto, Listyowati |
|---|---|
| Format: | Proceeding PeerReviewed Book |
| Bahasa: | eng |
| Terbitan: |
, 2013
|
| Subjects: | |
| Online Access: |
http://libprint.trisakti.ac.id/1/1/Listyowati%20Sumanto-Abst%20No%2076.pdf http://libprint.trisakti.ac.id/1/ http://law.nus.edu.sg/asli/index.aspx |
| ctrlnum |
1 |
|---|---|
| fullrecord |
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<dc schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/ http://www.openarchives.org/OAI/2.0/oai_dc.xsd"><relation>http://libprint.trisakti.ac.id/1/</relation><title>Diversity of Land Rights and Restrictions on Foreign Ownership of Proferty in Indonesia</title><creator>Sumanto, Listyowati</creator><subject>K Law (General)</subject><description>As part of the global economic activity growth, a great number of companies have expanded
their business to include operations and offices in foreign countries. For the purpose of
maintaining close supervision of the management of foreign business activities, many companies
open a representative office in other countries. With the emergence of foreign investment and
business in Indonesia, many foreign investors need land for buildings for their company.
However, Indonesian Land Law is quite different to the laws that are applicable in most other
countries. The Law Number 5 of 1960 and its numerous implementing regulations are the basic
law applicable in Indonesia onrights over land ownership. The Basic Agrarian Law specifies
several types of land rights, all of which offer the right to utilize the land concerned. Differences
exist in duration of validity, nature of utilization, possibility to mortgage and proof in title. Only
Indonesian citizens are allowed to own land in Indonesia with freehold title. Foreign ownership
of property is an interesting issue. Foreigners who wish to use or purchase land for whatever
purpose need to be aware of these facts and not assume that the legal conventions that apply in
their countries would necessarily apply in Indonesia. There are restrictions on foreign ownership
of property in Indonesia and that an amendment of Government Regulation Number 41 of 1996
extends foreign property ownership and eases restrictions. This measure improves competition in
the Indonesian housing market, foreigners in Indonesia benefit by improved access to real estate
and it is likely to attract more Foreign Direct Investment into Indonesia.</description><date>2013-05-23</date><type>Journal:Proceeding</type><type>PeerReview:PeerReviewed</type><type>Book:Book</type><language>eng</language><identifier>http://libprint.trisakti.ac.id/1/1/Listyowati%20Sumanto-Abst%20No%2076.pdf</identifier><identifier> Sumanto, Listyowati (2013) Diversity of Land Rights and Restrictions on Foreign Ownership of Proferty in Indonesia. In: Celebrating Diversity: 10years of ASLI 10th Asian Law Institute Conference, 23-24 May 2013, India. </identifier><relation>http://law.nus.edu.sg/asli/index.aspx</relation><recordID>1</recordID></dc>
|
| language |
eng |
| format |
Journal:Proceeding Journal PeerReview:PeerReviewed PeerReview Book:Book Book |
| author |
Sumanto, Listyowati |
| title |
Diversity of Land Rights and Restrictions on Foreign Ownership of Proferty in Indonesia |
| publishDate |
2013 |
| topic |
K Law (General) |
| url |
http://libprint.trisakti.ac.id/1/1/Listyowati%20Sumanto-Abst%20No%2076.pdf http://libprint.trisakti.ac.id/1/ http://law.nus.edu.sg/asli/index.aspx |
| contents |
As part of the global economic activity growth, a great number of companies have expanded
their business to include operations and offices in foreign countries. For the purpose of
maintaining close supervision of the management of foreign business activities, many companies
open a representative office in other countries. With the emergence of foreign investment and
business in Indonesia, many foreign investors need land for buildings for their company.
However, Indonesian Land Law is quite different to the laws that are applicable in most other
countries. The Law Number 5 of 1960 and its numerous implementing regulations are the basic
law applicable in Indonesia onrights over land ownership. The Basic Agrarian Law specifies
several types of land rights, all of which offer the right to utilize the land concerned. Differences
exist in duration of validity, nature of utilization, possibility to mortgage and proof in title. Only
Indonesian citizens are allowed to own land in Indonesia with freehold title. Foreign ownership
of property is an interesting issue. Foreigners who wish to use or purchase land for whatever
purpose need to be aware of these facts and not assume that the legal conventions that apply in
their countries would necessarily apply in Indonesia. There are restrictions on foreign ownership
of property in Indonesia and that an amendment of Government Regulation Number 41 of 1996
extends foreign property ownership and eases restrictions. This measure improves competition in
the Indonesian housing market, foreigners in Indonesia benefit by improved access to real estate
and it is likely to attract more Foreign Direct Investment into Indonesia. |
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JAKARTA BARAT |
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DKI JAKARTA |
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