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

Sandbox Vaccine. Young Turks. Hotel PR Tips

Category: Tourism, Posted:10 May 2021 | 06:00 am Hey Monday. Late last week word was that the Phuket Sandbox remains on course, despite the current outbreak. Time will of course tell, as island hotels are reeling in what is nearly a travel lockdown to Phuket. With hotel occupancies in single digits and restaurants unable to serve alcohol, business levels are hitting pandemic lows. […]
Read more

Who’s Caesar And Phuket’s Fastest Growing Hotel Group

Category: Tourism, Posted:04 May 2021 | 06:00 am Welcome to the latest Thai Road Trip episodes from C9 Hotelworks and Delivering Asia Communications. Listen to the Executive Director of Jee Teng Hospitality talk shop and what’s next. We also get out the kitchen and into the dining room handcrafted tableside food service. Check these two now – Inside Story. A Phuket Hotel Group […]
Read more

Sandstorm In the Sandbox

Category: Tourism, Posted:03 May 2021 | 09:39 am All eyes this week locally are on the fate of the Phuket Sandbox which remains a work in progress. The second round of local vaccinations were planned to start this week but given Thailand’s third wave it’s unclear whether the process can move on the expected timeline due to vaccinations being deployed elsewhere in needed […]