HOW TO BUY A VILLA WITH LONGITUDE



If your villa does not generate income, you do not have to be in possession of a particular visa. Otherwise, you will have to build a company that will allow you to generate income legally.

Owning in Indonesia does not entitle you to a KITAS. You can, for example, create a company to hold a work KITAS. For more information, do not hesitate to contact us .

It is impossible for a foreigner to obtain a credit (except special case). Regarding your borrowing opportunities in your country, unfortunately this is an issue we do not control because it depends on several factors. For example, some of our clients have already made loans in exchange for a mortgage in their country.

The purchase proceeds in the following way, it being specified that, as far as possible, we adapt the whole purchase process according to the requests of our customers:

  • Definition of your needs, set a timeline and schedule
  • Signature of the contract meeting your requirements and your specifications,
  • Payment of a first deposit,
  • Realisation of plans, if outside villa catalog,
  • Validation of the documents and payment of the corresponding instalments,
  • Visit to Bali, signing documents essential to the purchase of the property, meeting with the various professionals (banker, notary, lawyer ...)
  • Acquisition of the land, on the spot or by proxy,
  • Payment of the various constructions, being specified that the payments will be made according to the progression of the works and in accordance with the clauses of our contract.

Our company accompanies you throughout the entire travel process, it being specified that each of our customers is the object of a particular attention and that we personalise as much as possible all the stages, according to your needs and your requirements. The procedure is therefore scalable and flexible:

  1. We will discuss together the best periods to organise your stay in Bali and you will decide, according to your availability, dates that suit you.
  2. Your accommodation in Bali: we can assist you in this process and direct you to our partner hotels,
  3. We send you a driver at the airport, accompanied by our customer manager, who will escort you to your hotel,
  4. During your stay, we take care of everything, visits related to your purchase (architect, bank, notary) and cultural visits to immerse yourself in Bali (at your expense),
  5. Our appointments in Bali: during our meetings, we will discuss the current market, our working methods, the return on investment and especially your projects, your desires and your expectations. We will organise tours of some of our villas, land. You will share your feelings and your favourite choices. We will proceed to the creation of a bank account. Then we can work together remotely.
  6. If you prefer a VVIP Concierge service we can provide for additional costs, for more information click here.

As a general rule, our customers validate the entire purchase process during their trip to Bali. If despite the visits organised on the spot, you are undecided, you can perfectly give us a power of attorney so that we can, in a second time, acquire the land in your name.

Yes you can. Many of our clients appoint a power of attorney to sign the transfer of deed on their behalf. This is a simple process and can be done remotely. Even your friend or lawyer can be appointed as your power of attorney. It is without any risk, especially you buy one of our products where you can pay by progress.

When you stay in Bali, your passport will suffice. Ideally, the land in question will have to be paid before your departure from Bali, your presence being necessary for the signing of documents at the notary. If you are not on site and you want to reserve a particular land, we have the possibility, after a down payment, to take a stand on your land, waiting for your arrival in Bali.

Longitude Investments can develop the piece of land you already have it and build the villa you choose from our listing or create your dream villa on it.

You can open a bank account without any problem. Your presence is however required, but the steps are very fast. We will accompany you in this procedure because it is necessary to have a sponsor to open the account.

This is better because in case of purchase of a property, you will have to pay the various expenses related to your purchase (property tax, insurance, salaries of your staff if necessary, etc.). In case of renting, you will have to deposit the rent amount in an Indonesian bank account.

Is there a withdrawal period?

We guarantee our homes, against any major defect of construction, for one year. This guarantee does not cover cases of force major, bad weather, earthquake, floods, fortuitous event and other problems related to the natural degradations of the building. For your home insurance, we can direct you to our partners, such as Zurich Insurance, which insures the majority of our customers, against theft, fire, earthquake, flood, degradations related to volcanoes or any other natural event.

It is without any risk, especially you buy one of our products where you can pay by progress. We document any progress by photo and architect.

The operating costs are as follows and will depend of the type of villa: the annual property tax, the insurance of the property, if you wish to dispose of it, monthly staff costs, various expenses such as water, electricity, internet, cleaning products, small maintenance cost. From our experience, it will cost between 200-500 per month - wich is the rental revenue you can get for just a 1 to 3 night stay.

We can organise and marketing the resale of your property at our platform, a commission have to be paid. How long depend of the price of course, but if it is priced fairly, it will take from 3 to 6 month.

The amount of tax levied after the resale of real estate in Indonesia is 10% of the amount declared.

LONGITUDE RENTAL MANAGEMENT



Our company has a special Longitude Rental Management team, in charge of villa management to provide the best possible service to rent out your villa. For more information, please feel free to contact us.

People looking for quality accommodation in Bali are very numerous. Whether tourists looking for a daily rental, seasonal rental or long-term rental, demand is growing. The average time to find customers wishing to stay in one of our villas is between 1 week, 1 month to 1 year, also daily rental is possible what gain the highest profit.

In Bali, the owner is free to set the amount of his rent and increase it at any time. There is no law governing this aspect of rental. We can however advise you on the price of the rent of your villa.

You are free to set the duration of your lease. It can be a long- term contract (1 year or more), a medium-term contract (6 months) or even seasonal contracts or daily rental via platform. All you need to do is specify the periods you want to rent, your preferences for the duration of the rentals and we will fill your calendar with clients who wish to rent your villa.

If you want to work with us to rent out your villa, our price is short-term, daily rentals (beyond 3 month), 25% medium-term contracts (from 3 month to 12 month ), 20% long-term contracts (more than 1 year), 15%

Nothing requires them but it will be stipulated in the rental agreement that they must be holders of insurance.

It is up to you to choose, we can offer your property to rent, with or without deposit, it being specified that an inventory of entry and exit will be made by us. We can discuss together the amount of the deposit, we recommend around 5 to 10 % deposit. In addition, we ask all tenants to provide us, on the day they enter the premises, a photocopy of their identity documents and visa.

In Bali, there is no rent insurance. In case of unpaid, there is no protection for the tenant. He must leave the dwelling on the field. There is nothing to stop us from using the police, which is very dissuasive in Bali. In addition, we ask the payment of rents before the entry of tenants in the villa to ensure the payment of rents. No delay is tolerated. In case of non payment on the day of the deadline, we go on the spot and ask the immediate departure of the tenants.

The tenant, when entering your villa has been informed and can contact us very easily and quickly. An information sheet has been given to him containing phone numbers, email addresses to contact us in case of problems. In case of such a problem, tenants will contact us and we will take all necessary measures to quickly find a solution, within the limit of an intervention cost of 500. Beyond that, we will contact you to obtain permission to start the necessary work.

The rental profitability variate from 12% up to 55% or more, depending on the rental strategy, location and villa type, you can choose from daily to longterm lease. The return of invest you can reach approximately between 7 to 12 years, depends on location and villa.

To declare your income at the end of the year, you must have a NPWP number, which is assigned by the tax department. We can assist you to get this number. We can also keep your accounts (receipts / expenses) for your tax return. However, for this we will need to be in possession of your bank statements, as is customary in the business accounting environment. If you are not convinced, you can manage your accounting yourself and we can prepare the file and obtain the NPWP number.