Friday, March 18, 2016
Issue Number: 446
New Regulation on Property Ownership by Foreigners: Good Intentions but Many Uncertainties Remain
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OVERVIEW As concrete steps to reform the Indonesian economy amid the current global downturn manifest themselves through President Jokowi’s various Economic Policy Packages, three main objectives have been set: specifically the improvement Indonesia’s industrial competitiveness, the acceleration of the progress of projects which are considered to be national strategic importance, and encouraging investment within the property sector.[1]This latter objective has resulted in the issuance of Government Regulation No. 103 of 2015 on the Ownership of Residential Property by Foreign Citizens Domiciled in Indonesia (“2015 Regulation”)....

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