Foreign Ownership Under the Right to Use

Foreign Ownership Under the Right to UseThe process of revision of Government Regulation Number 41 Year 1996 regarding the ownership or occupancy homes by foreigners are still rolling. Mechanisms to ensure government ownership of residence for foreigners in accordance with usage rights set forth in Law No. 5 / 1960 on Basic Agrarian.

Because, the government would not tamper with basic agrarian law despite 41 years in 1996 to revise the PP. "We will refer to the principal agrarian legislation regarding the rights to use," said Minister of Housing Suharso Monoarfa, Friday (14/05/2010).

Usage period residence, Suharso said, also referring to the use rights according to the basic agrarian law. "We just have to see it, if it can be renewed once. But, not necessarily up to 70 years, for example," light Suharso.

Suharso added, there are two functions of housing or residential shelter for strangers.

First, as a residence (residential property). Monoarfa, foreigners who take advantage of a house as a place to live are those who've entered the age of retirement.

That way, said Suharso, they can enjoy retirement years in Indonesia as well as bringing benefits to Indonesia. "The form can be landed house," said the United Development Party's politicians.

Second, as an investment (investment property). That is, they may have shaped rise residential properties for investment. Cuma, Suharso reminded, in condition, may not purchase on credit.

However, according Suharso, until now the ministries they lead are still finalizing the formulation of object properties for the stranger. "The question of property for foreigners objects have not finished," she said.