The Jakarta post, a daily newspaper, published an opinion of Eddy Leks, CEO & Managing Partner of Leks&Co on 25 April 2017. His opinion titled “Foreign property ownership: Get it right or get rid of it” speaks about current legal structure that confuses real estate developers and prospective foreign buyer of condominium unit.
His opinion shows data from Central Statistics Agency depicting a number of foreign tourists that come to Indonesia on a monthly basis. The current regulation allows foreigner not to stay in Indonesia in order to buy a residence. But there is other regulation also in force that hindering this novel facility. Eddy leks further argues that if the government is serious in facilitating foreigners, it should have proposed to amend the 1960 Agrarian Law or the confusion on the government’s regulations of 2015 and 2016 will persist. Thus, the choice is either to get it right or get rid of it.
Eddy Leks has been recommended as leading lawyer on corporate and mergers acquisition and real estate by Legal500.
