Frequently Asked Questions

LEGAL

Q. What type of title is the land?

A. The title of the land is Hak Guna Bangunan (HGB) but could be converted to Hak Pakai based on the pending laws of Indonesia at the time of the strata title application. Both HGB / Hak Pakai are perpetual renewal leasehold titles of 30 years + 20 years and extendable for an additional 20 and 30 years. This renewal process repeats itself on the condition that the land use is not changed and the fees are paid. Renewal fees are 0.2% of the assessed value of the land portion of the property. If the assessment is IDR 1 billion (SGD 100,000) the renewal fee will be IDR 2 million (SGD 200).

Q. Can I, as a foreigner, invest in property in Indonesia?

A. Yes, a foreigner can own property in Indonesia with the recent introduction of the law that is, a foreigner with any visit / stay visa may purchase and own properties in Indonesia.

Q. Are there legal restrictions as to the sale of Indonesia property?

A. No, there is no restriction on such sale.

Q. Can I leave to or inherit my property from another?

A. Yes, Laws were passed in December 2015 to allow foreigners to inherit properties in Indonesia.

Q. Is there any tax payable for the purchase of the unit?

A. The Haven Bintan development is located within The Free Trade Zone and hence exempted from VAT. There is also no capital gains tax in purchase and sale of property. However, there is a Land Duty (BPHTB) in which the seller has to pay 2.5% and the buyer pay 5% of the value of the property. This is payable directly to the government at the time when the title is ready to be transferred to you.

Q. Is there any luxury tax in Bintan?

A. Yes but only if the transaction is above IDR 10 billion (equivalent to SGD 1,000,000).

Q. Is it a good time to invest in Indonesia?

A. Yes. The Indonesian government is more proactive than at any time in the past. It has amended laws and regulations that encourage foreign investments and has removed many restricting regulations. Indonesia is now receiving the second highest amount of foreign investment in the world. It is a very good time to invest in property in Indonesia.

Q. What about the Infrastructure?

A. Infrastructure in Bintan Resorts is excellent especially in the Bintan Resort Area which is on par with Singapore.

Q. What are the legal and related charges I need to pay?

A. Please refer to the below table.

One Time Charge
i) Relevant Expenses: Legal fee for reservation agreement
Details: Only panel lawyer fees is paid by the Developer

ii) Relevant Expenses: Legal fees for the mortgage
Details: 0.5% of the loan amount to be paid by the Purchaser estimated at IDR 25 million (SGD 2,500) for a loan of IDR 5 billion (SGD 500,000).

iii) Relevant Expenses: Land Duty (BPHTB)
Details: 5% of the value of the property is payable to the government

iv) Relevant Expenses: Legal fees for the conveyancing and title transfer and registration fee for the transfer
Details: 1% of the sale price

Yearly Charge
Relevant Expenses: Land & Building Tax (PBB) (Property tax)
Details: 0.02% of the assessed value of the property as determined by the local Government, estimated to be IDR 1 million (SGD 100) for a property value of IDR 5 billion (SGD 500,000).

Q. Could I expect capital appreciation on The Haven property?

A. Yes. The selling prices are low compared to prevailing prices in Indonesia for equivalent luxury properties, and only 1 / 3 that of an equivalent property in Singapore. Please note that the developer has an outstanding track record where 200% to 300% increase in prices of all its previous projects have been registered within 5 years. We expect properties in The Haven, Lagoi Bay, Bintan to be the same and appreciate by at least 200% within 5 years after completion.

Q. Which currency can I use to purchase my unit?

A. You can pay in Indonesian Rupiah (IDR), Singapore Dollars (SGD) or US Dollars (USD).

Q. If I purchased my property for residence, can I later change it for investment and lease it to the Hotel Management instead?

A. Yes, but this is always subject to the Developer’s approval.

Q. What is the governing law for the purchase of the property?

A. Laws of the Republic of Indonesia.

Q. Can I transfer / sell my property to a third party pending the issuance of the Condominium Strata Title and is there a fee chargeable?

A. Yes, subject to the Developer’s approval in writing. An administrative fee is chargeable of 3% of the sale price or the new transaction price, whichever is higher.

LEASE MANAGEMENT PROGRAM

Q. What is the maintenance fee?

A. Please refer to the below table.

Maintenance
First 1000 square feet: 28 cents per sqft per month
Next 1000 square feet: 24 cents per sqft per month
Beyond 2000 square feet: 20 cents per sqft per month

Sinking Fund
10% allocated to sinking fund from maintenance fund and other as may be required

Q. What types of property management services are offered?

A. The development will be managed as a condotel with the quality expected of a hotel resort.

Q. Are there any taxes to be levied on the rental management scheme?

A. Rental distributions made to non-resident (foreign) owners are subject to 20% withholding tax. Rental earned by Indonesian tax residents are subject to 10% withholding tax.

Note: These applicable taxes are current at the date of issue of this FAQ and may be subject to change. The Resort Hotel Suite owner shall be responsible for any income and any other taxes, duties and fees of whatever nature which may be levied by relevant authorities on the Resort Hotel Suite in connection with the rental. All Resort Hotel Suite owners are advised to seek their own tax advice in this regard.

Q. Can my friends use my entitlement of gift vouchers?

A. Yes. The gift vouchers are fully transferrable, and they can be used for rooms, food and beverage, and other chargeable activities or services within the development.

Q. Can I book more than one hotel suite on the same date for my friends to stay within my annual entitlement?

A. Yes. There is no limitation on the number of rooms / nights per stay.

Q. Do I need to pay for refurbishment of the furniture and fittings?

A. Yes, based on wear and tear but the Developer does not expect any refurbishment costs within the first 4 years.

Q. Who bears the cost of any breakage of the furniture and fittings in the unit?

A. The Hotel Management will bear the cost.

FACILITIES

Q. What utilities do I have to pay for?

A. For Resort Hotel suites being rented out, these costs will be borne by the manager. For Resort Hotel suites being occupied by owners, utilities will be based upon the consumption / costs incurred.

Q. What are the facilities and services provided?

A. Car Parks
Seahorse Design Swimming Pool
Jogging Track by The Lake
Tennis Court
Multi-tier Security
Hotel Management and Service
Spa Facility
Archery
Clubhouse with the following:
Conference Rooms & Spacious Ballroom
Theatrette
Gymnasium
Children’s Playroom and Children’s Playground
Meeting Rooms
Banquet and Seminar Hall
Restaurant and Bar

Q. Is there a sinking fund?

A. Yes. 10% of the maintenance fund will be transferred to the sinking fund. If the amount is insufficient, owners may need to further contribute to the fund. Owners will also be required to pay to the sinking fund a lump sum amount equivalent to six months of the maintenance charges.

Q. Can we use future facilities built in different phases?

A. Yes, the completion of the development will be in phases as provided for in both the Reservation Agreement and / or the Sale and Purchase Agreement. The overall plan is that each phase is complete in itself with its relevant facilities. Amalgamation with facilities of the other phases will be made when development of the other phases is complete.

Q.    Is there an airport in Bintan?

A. Yes, Raja Fisabilillah Aiport in Tanjung Pinang currently provides direct charter flights to Bintan from many countries. The new Bintan Resorts International Airport near Lagoi Bay is expected to be ready by 2020.

Q. Will there be a marina yacht in Lagoi Bay?

A. Yes, and it is expected to be expanded.

Q. Are there golf courses?

A. Yes, there are 4 golf courses within 20 minutes from The Haven’s site.

Q. Is there a ferry terminal in Lagoi Bay?

A. Yes, and it is expected to be expanded. Currently, the ferry departs from Tanah Merah Ferry Terminal, Singapore to Bandar Bentan Telani Ferry Terminal, with 5 daily trips and 8 on peak days and is an easy approximately 50 minute ride from Singapore.

Q. Is it safe to live in Lagoi Bay?

A. Yes. Lagoi Bay, an environmentally conscious tourism belt, has been mandated by the Indonesian Government to be a “Protected Zone” and this has enabled Lagoi Bay to be free of crime and even civil disturbance for over a decade. Security has been exemplary.

CONSTRUCTION

Q. What are the furniture, fittings and appliances provided in the unit?

A.    The unit will come fully furnished. All built-in furniture, electrical appliances, and soft fittings (beddings and curtains) will be included.

Q. When do you expect construction to be completed?

A. In three (3) years.

Q. Is there a warranty period of my unit?

A. 12 months from completion.

Q. How many phases are there?

A. Three (3) phases. Please see the table below.

Phase 1 : 3 Towers
(Initial 2 towers and extension of additional tower)

Phase 2 : 3 Towers
(Initial 2 towers and extension of additional tower)

Phase 3 : 2 Towers

Whilst every care has been taken in preparing this sales kit and all the documents therein, the developer does not guarantee its accuracy nor intends for it to form part of any offer or contract. All statements are believed to be correct but are not to be regarded as statements or representations of facts. The developer reserves the right at any time to make changes to the project at its own discretion.