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WHAT DO YOU NEED TO KNOW ABOUT BUSINESS IN BALI?
The island of Bali is not only an incredible resort, but also a fast-growing market. The island's economy is growing at a tremendous pace thanks to the huge number of tourists. But which areas of business are most in demand? And what do those who want to open their own business need to know about the jurisdiction of Indonesia? Let's figure it out.
Legal aspects in business in Bali. How to own a business in Bali?
Licenses and permits
Most businesses in Bali require permits and licenses, including local tax numbers (NPWP), and other business-specific permits. It is worth considering that there are several levels of licenses on the island:
• CV. There are a number of activities in Bali for which special licenses are not required. These include, for example, small-scale trade in souvenirs.
• PT. Suitable for investors with medium capital. Such an enterprise must be registered in the name of Indonesian citizens. As a rule, the real owner must get a job in his own company. It is worth considering that this is only a legislative formality.
• PMA. The largest investments in the Indonesian economy involve full legal protection of property rights. Businessmen who open construction companies, large restaurants and similar businesses and have received a license are considered owners.
Taxation
Businesses in Bali are required to pay taxes. Taxes may vary depending on the type of business. For example, restaurant owners pay an additional 10%. We recommend consulting with local lawyers.
Compliance with local laws and cultural norms
It is important to respect local laws, traditions and cultural norms. Bali is a place with strong traditions and respect for local customs plays an important role in the business community.
Immigration issues
If you plan to live and work in Bali as an entrepreneur, you will need the appropriate visa and work permit. Having opened your own business, you can get a KITAS - a work visa to Bali.
Most businesses in Bali require permits and licenses, including local tax numbers (NPWP), and other business-specific permits. It is worth considering that there are several levels of licenses on the island:
• CV. There are a number of activities in Bali for which special licenses are not required. These include, for example, small-scale trade in souvenirs.
• PT. Suitable for investors with medium capital. Such an enterprise must be registered in the name of Indonesian citizens. As a rule, the real owner must get a job in his own company. It is worth considering that this is only a legislative formality.
• PMA. The largest investments in the Indonesian economy involve full legal protection of property rights. Businessmen who open construction companies, large restaurants and similar businesses and have received a license are considered owners.
Taxation
Businesses in Bali are required to pay taxes. Taxes may vary depending on the type of business. For example, restaurant owners pay an additional 10%. We recommend consulting with local lawyers.
Compliance with local laws and cultural norms
It is important to respect local laws, traditions and cultural norms. Bali is a place with strong traditions and respect for local customs plays an important role in the business community.
Immigration issues
If you plan to live and work in Bali as an entrepreneur, you will need the appropriate visa and work permit. Having opened your own business, you can get a KITAS - a work visa to Bali.
Development of hotels and villas
Purchase for restoration
After purchasing an old villa or hotel, investors can make improvements by updating the interiors, gardens and infrastructure. Such properties can then be resold on the Bali real estate market for a decent profit. This strategy has become especially popular among investors seeking high returns.
However, it is worth considering that both the real estate itself and the land on which it is located may have different legal statuses. Before purchasing, be sure to consult with lawyers.
Construction of new villas
The construction of new villas in Bali also provides business opportunities. Local investors are looking for top talent to create unique and compelling properties.
When building new villas, financing and project management must be taken into account. Investors raise funds from a variety of sources, including bank loans, private investments and equity.
New and interesting projects are usually built in less popular areas. This is because building density in Bali can be extremely high.
Investing in real estate and shares of construction companies
You can invest in real estate by purchasing shares in construction companies specializing in the development of hotels and villas. This provides investors with the opportunity to participate in projects of different sizes and diversify their portfolio.
After purchasing an old villa or hotel, investors can make improvements by updating the interiors, gardens and infrastructure. Such properties can then be resold on the Bali real estate market for a decent profit. This strategy has become especially popular among investors seeking high returns.
However, it is worth considering that both the real estate itself and the land on which it is located may have different legal statuses. Before purchasing, be sure to consult with lawyers.
Construction of new villas
The construction of new villas in Bali also provides business opportunities. Local investors are looking for top talent to create unique and compelling properties.
When building new villas, financing and project management must be taken into account. Investors raise funds from a variety of sources, including bank loans, private investments and equity.
New and interesting projects are usually built in less popular areas. This is because building density in Bali can be extremely high.
Investing in real estate and shares of construction companies
You can invest in real estate by purchasing shares in construction companies specializing in the development of hotels and villas. This provides investors with the opportunity to participate in projects of different sizes and diversify their portfolio.
Travel agencies and excursion services
Personal travel planning
Travel agencies in Bali provide invaluable assistance to travelers in planning their trips. Experienced agents can help you find the perfect accommodation, itineraries, best times to visit tourist attractions and more. An individual approach to each client helps to create the ideal route for vacationers.
Organization of transfers and accommodation
Balancing comfort and budget can be a challenge when organizing a trip to the island. Travel agencies help tourists find optimal accommodation and provide transfer services from the airport and around the island, making the trip more convenient and stress-free.
Exclusive and author's tours
In Bali you can find many interesting places and routes that are not always accessible to solo travelers. Travel agencies offer exclusive and signature tours, including trips to the island's wild beaches, cultural events and natural wonders. This allows visitors to Bali to see the island from a new, unique side.
Travel agencies in Bali provide invaluable assistance to travelers in planning their trips. Experienced agents can help you find the perfect accommodation, itineraries, best times to visit tourist attractions and more. An individual approach to each client helps to create the ideal route for vacationers.
Organization of transfers and accommodation
Balancing comfort and budget can be a challenge when organizing a trip to the island. Travel agencies help tourists find optimal accommodation and provide transfer services from the airport and around the island, making the trip more convenient and stress-free.
Exclusive and author's tours
In Bali you can find many interesting places and routes that are not always accessible to solo travelers. Travel agencies offer exclusive and signature tours, including trips to the island's wild beaches, cultural events and natural wonders. This allows visitors to Bali to see the island from a new, unique side.
Catering business
The restaurant business in Bali welcomes innovation and creativity. Local chefs and entrepreneurs are constantly creating new restaurant concepts, menus and interiors to surprise and attract customers. This approach creates a supportive environment for those who are willing to experiment and introduce new ideas.
Restaurants with local cuisine
As interest in cultural and culinary authentic experiences grows, restaurants specializing in local Indonesian cuisine are becoming increasingly popular. They invite guests to enjoy traditional Balinese dishes.
Restaurants with international cuisine
Bali is also known for its diverse global culinary traditions. Restaurants serving Italian, French, Japanese and other cuisines operate successfully on the island. Guests are offered authentic dishes and unique gastronomic experiences.
Cafes and coffee shops
The coffee culture in Bali is also thriving. Cafes and coffee shops attract both those looking for excellent coffee and those who appreciate a pleasant atmosphere for working or chatting with friends.
Restaurants with local cuisine
As interest in cultural and culinary authentic experiences grows, restaurants specializing in local Indonesian cuisine are becoming increasingly popular. They invite guests to enjoy traditional Balinese dishes.
Restaurants with international cuisine
Bali is also known for its diverse global culinary traditions. Restaurants serving Italian, French, Japanese and other cuisines operate successfully on the island. Guests are offered authentic dishes and unique gastronomic experiences.
Cafes and coffee shops
The coffee culture in Bali is also thriving. Cafes and coffee shops attract both those looking for excellent coffee and those who appreciate a pleasant atmosphere for working or chatting with friends.
Bali provides unique opportunities for business development in a variety of areas. The tourism industry, with its diversity and potential for growth, continues to drive the island's economic development. The restaurant business pleases gourmets and connoisseurs of diverse culinary tastes. Tech startups find inspiration and opportunity in Bali to create innovative solutions that can change the world.
LONG TERM RENTAL IN BALI
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