If your plan was Bali
In the third week of May 2026, Bali stopped accepting new foreign-investment licence applications in eighteen business categories — among them villas, small hotels, cafés and consulting. If you already run one there, nothing was taken from you. If you were about to, that is the part that changed.
The Provincial Government of Bali stopped accepting new PT PMA licence applications through the OSS system in 18 KBLI classifications. It comes from Governor of Bali letter No. B.27.000/642/PM/DPMPTSP dated 28 January 2026, took effect across the province in the third week of May 2026, and was announced publicly on 23 July 2026 — approved in advance by Indonesia's Ministry of Investment. Indonesia's stated reason is to protect local micro, small and medium enterprises.
Existing licences were not revoked. You will see this reported as foreigners being "locked out" of Bali. That is not what the measure says, and we would rather you heard the accurate version from us than the loud one from somewhere else.
The classifications identified publicly. These are, almost exactly, the businesses foreign arrivals in Bali actually start.
| KBLI | What it covers |
|---|---|
| 55110 · 55120 | Hotels under 6,000 m² — star-rated and budget |
| 55900 | Other accommodation — the villa-rental and short-stay category |
| 56303 | Cafés and drinking houses |
| 47249 | Other food retail |
| 68111 | Real estate operations — owned or leased |
| 70204 · 70209 | Management and business consultancy |
| + 11 more | Further low and lower-medium risk classifications in the same list |
The licensing change is recent and could change again. This has been true the whole time, and it is the thing worth deciding on.
Indonesia — Bali
You hold a lease
Nicaragua — San Juan del Sur
You hold the deed
Outside restricted border and certain coastal strips. A lease that runs out in twenty-five years and a deed that does not are different assets, whatever the brochure rate of return says.
On a $300,000 home in San Juan del Sur.
| Line | Annual |
|---|---|
| Property tax | About $800–$1,000 |
| HOA | $0–$3,000 — many homes have none at all |
| Insurance | About $800–$1,800 |
Nicaragua is not a straight upgrade. Here is where it loses.
Five, from $194,000. Every one of them held fee simple.
The Provincial Government of Bali stopped accepting NEW foreign-investment (PT PMA) licence applications through the OSS system in 18 KBLI business classifications. It runs from Governor of Bali letter No. B.27.000/642/PM/DPMPTSP dated 28 January 2026, took effect across the province in the third week of May 2026 and was announced publicly on 23 July 2026, having been approved in advance by Indonesia's Ministry of Investment (BKPM). The stated purpose is to protect local micro, small and medium enterprises.
No. It applies to new licence applications. Reporting on the measure states that licences already issued in the affected classifications are not automatically revoked, and existing PT PMA companies continue to file their investment activity reports as normal. If you already operate in Bali, this is not a shutdown notice — it is a closed door behind you.
Eighteen low and lower-medium risk classifications. The ones identified publicly include hotels under 6,000 m² (KBLI 55110 and 55120), other accommodation (55900), cafés and drinking houses (56303), other food retail (47249), real estate operations (68111) and management consultancy (70204 and 70209). In short: the villa-rental, small-hotel, café and consulting businesses most foreign arrivals set up.
Not freehold. Hak Milik — the freehold title — is available only to Indonesian citizens, and a foreigner cannot hold it under any structure. Foreign buyers use leasehold, typically 25 to 30 years with extensions; Hak Pakai, which requires a KITAS or KITAP and runs to about 30 years with renewals; or a PT PMA holding Hak Guna Bangunan, the right to build, for up to 80 years. Nominee arrangements — putting a freehold title in an Indonesian citizen's name for a foreigner's benefit — are legally void.
A fee-simple deed in your own name, with the same rights as a Nicaraguan citizen, outside restricted border and certain coastal strips. Not a lease, not a right to use, not a company holding a right to build. Closings typically complete in about 30 days with buyer closing costs of roughly 5 to 7% all in.
We are not going to tell you that, because we have not verified it and it is a question for a Nicaraguan lawyer, not a listing agent. What this page compares is what you own. If you want an introduction to counsel who handles foreign purchases here, ask and we will make it.
Sources on the Indonesian measure: Governor of Bali letter No. B.27.000/642/PM/DPMPTSP (28 January 2026), reported by Bali Discovery, VOI, Lexeron Advocates and LMI Consultancy, July–August 2026. Indonesian land-tenure descriptions follow Indonesia's Basic Agrarian Law as summarised by Emerhub and other Indonesian corporate advisers. Regulations change — verify anything here with your own counsel in both countries before you act on it. Read 2026-08-23.
Also worth reading: Costa Rica vs. Nicaragua → · The surf corridor map →
Christina lives in San Juan del Sur and shows these herself. Tell her which one and she will send photographs, the deed position and what the closing actually costs.
Rather just message? WhatsApp +1 (361) 215-0088