 |
|
 FAQ (Frequently Asked Questions) |
Why Royal Kamuela? |
|
PT. Bali Star Resort Indah, owned by PT. Sinergy Global Nusantara (Sinergy Group), the primary goal of PT. Bali Star Resort Indah is to develop excellent properties and offer great investment opportunities to individual investors. The lease is 50 years starting in, ended in 14 April 2052. This is typical for the BTDC (Bali Tourism Development Centre) area. Other properties like the Laguna, Melia, Ayodhia, Novotel Nusa Dua Golf Resort, Westin, all have similar lease arrangements. This will be according to the prevailing law at the end of the lease. Villa comes completely furnished as according to the furniture package, outlined in you Long Lease Notarized Agreement. Once completed all you have to do is turn the key to your new Villa and enjoy. 1. 21 complimentary nights stay in your Villa each year; 2. Complimentary Pick-up and drop to the Villa from the airport each time you visit; 3. 25% reduction on food and beverage purchase and spa treatments at the Villa Complex; 4. 25% reduction on published room rate, after 21 days free stay annually. Owners should notify the management company at least 3 months in advance to be sure a villa is available – booking later than this will try to be accommodated although will be based on space available. The Aston Hotel Group opened its first hotel in Waikiki in 1948, becoming the pioneer of ‘serviced’ and ‘Condotel Villa’ hotels in Hawaii. Aston, then known as ‘Hotel Corporation of the Pacific’ grew quickly, to become the US resort leader in Condotels and resorts in Hawaii - developing and marketing the first US multi-million dollar Condotel in Hawaii in 1985. Having established an office in Indonesia in 1995, Aston is now firmly established as the leading operator of Condotel programs in Indonesia, with delighted investors at several prestigious properties including Aston Rasuna, Aston Bandung and Aston Denpasar while the five star Aston Soho will open with 350 units in Jakarta in September 2008. Higher than expected returns have been achieved in each of these developments putting Aston as the ‘go to’ company for setting up and successfully managing rental programs for individual unit investors. With a proven track record of success, Aston has a very definitive vision for the future - to be universally recognized as the preferred hospitality management company in Asia Pacific. Your free nights are valid for each year and are not transferable to the following year. In order to guarantee you can stay in your own Villa or making sure you can stay at the Villa, we recommend booking at least 3 months in advance. Following the 3 years guarantee program, each Villa owner will receive returns based on a pooled method. This means that all revenues for the rental of the Villa are pooled and shared among the individual Villa owners based on the original purchase price of the Villa. Profits are paid annually and are accompanied with a financial summary of the performance and how the profits have been divided. For example profits from January to December 2010 are distributed at 1 March 2011. Disbursements are made after applicable costs, fees and any applicable taxes have been deducted. Aston will prepare and distribute quarterly rental reports, which will be sent to all owners. As well as this, the Villa accounts will be audited by a reputable auditing firm each year. The contracts will be Notarized and sent to the Indonesian Embassy in the country you sign them (unless you sign in Indonesia) for legalization. This makes the contracts legally binding in Indonesia even though they were signed elsewhere/ overseas. You pay directly to the Developer (PT. Bali Star Resort Indah), or your appointed Public Notary shall you wish, who will then release the funds to the Developer (PT. Bali Star Resort Indah) as per the Long Lease (notarial) Agreement. The Developer prefers to have all payments made in USD Value Added Tax (10%) and Lease Tax (5%) are to be paid on top of the villa price. There is no capital gain tax due. Many of our purchasers buy their Villa using an offshore company. This way, if they decide to sell the Villa they simply sell the share in their company so the Villa title does not have to transfer - thereby avoiding capital gains tax on the asset. The taxes due on the rental of the Villa are borne by the customer who pays for his nightly stay. ASTON Management will collect the 11 % GST tax and pay this to the tax department. As the villa owner, you will have to pay for 10% income tax from the rental profit. Normally a monthly maintenance fee is paid by Villa owners - this fee goes towards running the association costs such as security, landscaping, utility services, a proportion of the management fees and so forth. For the first 3 years, this is paid by the developer, as a special incentive to Villa owners. Following the first 3 year period, each Villa owner pays a monthly maintenance fee - however this will be automatically deducted from the Villa rental profits. In the unlikely case that the rental pool makes a loss, then this monthly maintenance fee will need to be paid by the individual Villa owners. Indonesian Law prohibits unlicensed individuals to rent a property that is zoned “Resort”. Rest assured Aston and its team of professionals will rent and manage the property ensuring the highest possible International standards, not only your Villa(s) but the rest of the Villa complex. Family and Friends can stay at any one time for a maximum of 21 days. This is only applicable if the owner is not present. Any longer than this then there shall be a reduced room rate for Family and Friends, as mentioned in FAQ point 5. Yes, family and friends may use the Villa with out the owner present provided the owner lists them with the management company as nominees. This is to avoid owners renting out their own Villa during peak season themselves. As well as satisfying the tax department about the nature of the stay, since the Aston management company will not be collecting the room tax during those nights. You as an owner can occupy your Villa as often as you wish for as long as you wish, provided you give the management company reasonable advance notice – especially during high season. If it is breakage due to recklessness, the management company will attempt to collect from the guest. If they are unable to and it is not covered by warranty or insurance the item will be replaced from the FF&E fund which has been set up. There will be an FF&E reserve which will allow for free renovations to investors (which they normally must pay for from their own pockets or from out of the rental income if they are renting themselves) – this calculated as a percentage or the gross revenues of the Villa rental program – normally 3% There will be compensation, which will be 1% over the Indonesian Central Bank’s general lending rate. Developer does. Peak Season is from December 20th to January 5th each year. High Season is the months of July and August each year. Regular Seasons are the other times of the year. 21 nights free stay is equal to 21 points. To stay in the same type of villa:
To stay in the upgraded type of villa for example from a 1 bedroom to a 2 bedroom:
SAMPLE A As a Condotel unit owner you will receive 21 points of usage for each year – one point corresponds to one day during Regular Season. If you want to stay during High Season it will be 2 points per day and if you want to stay during Peak Season it will be 3 points per day. If you buy a one bedroom villa but want to upgrade to a two bedroom villa then this is also possible. In this case Regular Season will be 2 points, High Season 4 points and Peak Season 6 points. SAMPLE B 1 bedroom = 21 points - 1 point per night 2 bedroom = 21 points - 2 points per night A maximum of 50% of their point can be used in high season and peak season. The Land Owner has leased the land from BTDC (Bali Tourism and Development Corporation) and this becomes the “LESSOR”. As a buyer of an Villa, you shall become the “LESSEE” under the umbrella of the PT. Bali Star Resort Indah title agreement. The initial contract with Aston is for 10 years with the possibility to extend with Aston if their performance meets the expectations of the individual investors. The income target between the developer and Aston is an ROI of at least 8% per year. Yes Once you have decided on a Villa and chosen an available unit, your sales representative will: Fill out a booking form with your personal information and payment schedule. You will be required to make a deposit of US $ 10,000. Our Public Notary will forward you copies of the contracts. Beyond Personal financiers the banking system of Indonesia does not readily provide financing to expatriates. However, we expect this to change in the near future as Bali becomes a premier investment destination for foreigners. The Royal Kamuela Villas & Spa, Nusa Dua, has been dynamically designed with Balinese Kampong concept yet is equipped with modern amenities. Yes. There are many different avenues for setting up a Foreign Company; you should consult your legal counsel for appropriate actions. Absolutely. You will get your log in name to www.royalkamuela.com and through the website, you’ll be able to view the construction progress photographs of your villa. Meanwhile developer would be glad to send you a reminder 1 week prior to your next due payment. There is no restriction on selling the Villa, as long as the Villa is fully paid for. The purchaser may sell the Villa themselves or ask the developer to re-sell the Villa. If the Purchaser chooses to sell the Villa they must inform Aston of the new purchasers’ details - as per the Long Lease (notarial) Agreement. All the necessary legal documentation will be forwarded to you directly by courier. The notarized documents are sent to the Indonesian Embassy in your Country of signing where they are legalized. Yes the Villa can be jointly owned. Yes. The developer can be advised on the beneficial account details and will gladly transfer the profit to the said account. Yes, there is, 10% of your total income. |
||||||||||||||||||
back to top  |