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Cannot officially buy islands in the country
- Indonesian law states that non-Indonesians cannot officially buy islands in the country. The Widi Reserve gets around that by having the eventual owner acquire interest in PT. Leadership Islands Indonesia (LII), a holding company. From there, the owner will be free to develop the island as they wish.
edition.cnn.com › travel › articleA once-in-a-lifetime auction for the rights to an Indonesian ...
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Nov 24, 2022 · Indonesian law states that non-Indonesians cannot officially buy islands in the country. The Widi Reserve gets around that by having the eventual owner acquire interest in PT. Leadership...
Nov 30, 2022 · The sale of islands to non-Indonesians is banned under Indonesian law, so buyers will bid for shares in PT Leadership Islands Indonesia (LII), an Indonesian development firm that has...
Nov 24, 2022 · The auction will be held between 8th-14th December 2022, according to CNN Indonesia. Indonesian law states that non-Indonesians cannot legally purchase islands in the country. However, the sale of Widi Reserve is circumventing these rules by allowing foreigners to acquire shares in PT Leadership Islands Indonesia (LII). Then, the owner will be ...
- Indonesia Expat
Dec 8, 2022 · The sale of islands to non-Indonesians is banned under Indonesian law, so buyers must bid for shares in PT Leadership Islands Indonesia (PT LII), an Indonesian development firm that...
Dec 23, 2022 · Indonesian law states that non-Indonesians cannot officially buy islands in the country. The Widi Reserve gets around that by having the eventual owner acquire interest in PT. Leadership Islands Indonesia (LII), a holding company. From there, the owner will be free to develop the island as they wish.
Dec 6, 2022 · More than 100 tropical islands in the Widi Islands, North Maluku, Indonesia, will be auctioned from 8 to 14 December in New York by PT Leadership Islands Indonesia (LII). PT LII is an Indonesian development company that has licensed the rights to build eco-friendly resorts and luxury residential properties.
Nov 24, 2022 · Indonesian law states that non-Indonesians cannot officially buy islands in the country. The Widi Reserve gets around that by having the eventual owner acquire interest in PT. Leadership Islands Indonesia (LII), a holding company. From there, the owner will be free to develop the island as they wish.
