TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

New Luxury Regulation May Derail Bali Villa Market

Category: Real estate, Posted:22 Feb 2012 | 13:26 pm

Starting in March a new regime that requires property developers and brokers in Bali to report on all transactions over USD55,000 could hit the industry hard.
Reported by Balidiscovery.com the regulation is aimed at money laundering and is targeting luxury property and goods.
While the legal ramifications have yet to be fully understood or implemented, the law is intended to counter the growing number of individuals sheltering assets or funds obtains through illegal activity.
Property experts say they have yet to see the act in motion but certainly nominee structures will be put to the test.
An add on to the reporting could be the linkage of reported transactions and a tail by taxation authorities for the collection of luxury tax.
I'm currently in Bali and speaking to local real estate developers and agents, there remains a good amount of anxiety over the new regulation.

Other News

Read more

Phuket’s Koh Siray Adds A New Hotel

Category: Hotels, Posted:22 Jan 2022 | 15:45 pm Phuket’s east coast has a new hotel with the recent opening of the Sinae Hotel in Koh Siray. The resort offers a collection of 64  studio units, and lifestyle as well as private pool villas. A key feature of Sinae is its elevated hillside ocean views. Access to nearby Phuket Town is ten minutes from […]
Read more

The Aussies Are Coming

Category: Hotels|Tourism, Posted:22 Jan 2022 | 14:53 pm For Phuket hotel sales and marketing teams, the go-to-market has been Russia during the height of the winter snowbird season. With March fast approaching and Thailand’s approval of a revised Test & Go program from the beginning of February, hoteliers are looking at the vast void of the second quarter of the year. Certainly, domestic […]
Read more

Patong Hotel Conversion For Banyan Tree’s New HOMM Brand

Category: Hotels, Posted:12 Jan 2022 | 08:00 am The 71-room Bliss hotel in Patong, Phuket has been converted to Banyan Tree’s HOMM brand. Banyan Tree is looking to fast-track expansion with three new brands a key strategy of conversions of existing hotels. The HOMM Bliss Southbeach Patong is the debut for the lifestyle-focused HOMM. Expect more announcements shortly on new Banyan Tree brands […]
SiaJai logo

Thailand's Leading Homecare Marketplace