Investment advisory

Investment advisory for foreign investors in Indonesia

Indonesia Core Management advises foreign investors on where and how to invest in Indonesia, with a focus on Bali. We assess the opportunity, recommend the legal structure, coordinate the checks and negotiate the terms — and we stay involved through development and management, so the advice is tested against execution.

Who this is for: Foreign individuals, families and companies considering a property or development investment in Indonesia Jurisdiction: Republic of Indonesia, with a focus on the Province of Bali Updated:

What investment advisory covers

Foreign investors usually arrive with one of three situations: a budget and a destination but no plan, a specific property someone is offering them, or a project that has started and needs a second opinion. Our advisory work is the same in all three cases — make the decision on facts, before money is committed.

  • Opportunity assessment: location, access, zoning, market positioning and realistic returns for the intended use (private residence, rental villa, multi-unit development).
  • Structure recommendation: leasehold, Hak Pakai as an individual, or a foreign-owned company (PT PMA) — and what each one allows you to do.
  • Verification plan: which checks are needed on the land, the seller and the permits, and in which order.
  • Negotiation and transaction coordination: commercial terms, lease or purchase conditions, notary and lawyer coordination, payment schedule tied to documents.
  • Feasibility: preliminary budget, timeline and the main risks for the specific plan.

Why structure comes before the property

In Indonesia the legal structure decides what you can hold and what you can do with it. Foreign individuals cannot hold freehold title (Hak Milik), and any arrangement designed to give a foreigner freehold through another person’s name is void under the Basic Agrarian Law. The realistic options are leasehold (Hak Sewa), Hak Pakai on a residential property within the legal limits, or a PT PMA that holds the appropriate land right for a licensed business.

Each option has consequences for renting the property out, financing, resale, tax and exit. Choosing the property first and the structure afterwards is the most common and most expensive mistake we see.

Main risks we look for

  • Nominee arrangements. Holding land through an Indonesian friend or partner is void by law and, in Bali, now expressly prohibited by regional regulation.
  • Zoning that does not match the plan. Land in protected agricultural zones, green belts or coastal setbacks may not be buildable for the intended use.
  • Business restrictions for foreign companies. Since 2026 new foreign-company registrations in Bali are blocked for a list of business codes, including several accommodation and property-rental activities. The exact code for your business model must be checked before you set up a company.
  • Unclear ownership on the seller’s side. Inherited land without all heirs’ consent, unpaid land tax or existing mortgages.
  • Permits assumed rather than checked. A villa without a building approval (PBG) and certificate of fitness for use (SLF) cannot be legally licensed as a business.

How we work

  1. Assess — a first call and document review to understand the objective, budget and timeline, followed by a written summary of the options and the checks required.
  2. Structure — recommendation of the structure, coordination of the verification and negotiation of terms, with notary and lawyers.
  3. Deliver — when the investment involves construction or management, the same team takes it through development management and construction project management to handover.

What you receive

  • A written assessment of the opportunity and the recommended structure.
  • A list of the verifications required, with who performs each one.
  • Negotiated heads of terms and a coordinated path to signing.
  • One point of contact that stays responsible after the deal is signed.

For company set-up see PT PMA and foreign investment structuring. For checks on a specific property see property due diligence in Bali.

Frequently asked questions

Do you sell properties or earn commissions from sellers?

ICM is not a real-estate agency and is not paid to push listings. We can source and facilitate opportunities, but our role is to assess, structure and deliver the investment on the investor's side. Any fee arrangement is agreed in writing before work starts.

Can you advise if I have already found a property?

Yes. Many engagements start with a specific plot or villa. In that case we begin with due diligence and a structure check before any deposit is paid.

Do you replace a lawyer or notary?

No. Deeds are signed before a notary or land-deed official (PPAT), and some matters require a licensed lawyer. We coordinate them, prepare the questions and check that the documents match the commercial deal.