Quote:
Originally Posted by juswan2knwu
U sure? Recently, newspaper jus reported the central authority is going 2 investigate the case of a Sg'orean who bought 2 entire (small) island near Batam as foreigners R nt allw 2 own freehold estate. Part of their national assest protection scheme.
I dun tk they offer freehold condominium(s) 2 foreigners, unlik Thai. I'm nt sure if the current laws gt change or nt but i nvr c any offical note on amdt(s).
Most foreigners bypass tis by putting the name of a local as the "offical" owner. Hwevr, as tis is a "gentleman" agreement, there is no ways (legal or illegal) of asssuring he keep his promise.
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As I've mentioned earlier that I'm not too sure about the free hold thing and I'm only able to provide very brief info here.
The best is to consult the proper professionals like notaries if one is really serious about it.
Also regarding buying a property and putting a local name as official owner under gentleman's agreement, I've heard of cases that the notaries can also draft some form of contract for that...