Bali Trustees

Who are Bali Trustees?

Bali Trustees operate under Australian law to provide you with the highest level of legal protection for your property or other investment in Bali and other parts of Indonesia. We are uniquely positioned to be able to offer this comprehensive service as trustees. We are Indonesian citizens, meaning we are legally able to acquire freehold title to land in Indonesia, and we are accounting professionals based in Australia. We also have agreements with law firms in Australia and Indonesia, enabling your interests to be protected in both countries.

What is a trust?

A trust is a legal obligation in Australian law imposed on a person (called the trustee) to hold property for the benefit of others (in this case, you). Trusts are widely used for investment and business purposes. Other examples include deceased estates and superannuation funds. You can learn more about trusts in Australian law from this NSW Law Society article.

How does it work?

We hold the legal title of your property in our name but only for your benefit. Your property is protected now and in the future, as trusts must have a ‘vesting date’ which means the trustee cannot hold the property of the trust forever. You decide what the vesting date will be, and you also have the legal right to appoint and remove the trustee.

Australian law imposes on trustees a number of duties that they must carry out using the care, skill and diligence that a prudent person of business would exercise in managing the affairs of others. Failure by trustees to discharge these obligations to the required standard can result in the trustees being held personally liable. This is why Bali Trustees take their role very seriously. Bali Trustees retain Kelly & Partners Lawyers to manage the entire legal process both in Australia and Indonesia and all fees are first paid into their solicitors' trust account.  

Is it expensive?

For our trustee services we charge a flat rate of 3% of the value of the estate (determined at purchase) consistent with other professional trustees in Australia.  For all other professional services we charge $250 per hour. You will also be liable for other costs such as taxes, legals, etc. Trusts are treated as taxpayer entities for the purposes of tax administration. We will manage the trust's tax affairs, including registering the trust in the tax system and lodging trust tax returns.

A trustee has a lot of tasks to do and very heavy legal obligations under Australian law. It is not an easy task. If you have ever been an executor of someone’s estate you will have some relevant experience.