Bali in mind as Indonesia offers 10-year second home visas – if you have US$129,000 in the bank

Bali plans to draw digital nomads and wealthy retirees with Indonesia offering tourist visas that last up to 10 years for those with US$129,000 in funds
The visa’s launch – the policy takes effect at Christmas – coincides with a rebound in tourist arrivals and comes ahead of the G20 Summit in Bali

Asia travel

Bloomberg

Published: 11:24am, 27 Oct, 2022

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Indonesia has entered the race to attract wealthy global citizens for long-term stays in bolstering growth of Southeast Asia’s largest economy with a focus on its trump card: Bali.

A new “second home visa” of five years and 10 years are eligible for those possessing at least 2 billion rupiah (US$129,000) in their bank accounts, according to a new regulation issued on October 25.

The policy takes effect at Christmas, or 60 days after the issuance of the new rule.

“This is a non-fiscal incentive for certain foreigners to make a positive contribution to the Indonesian economy,” said acting director general for immigration Widodo Ekatjahjana during a launch ceremony on the resort island.

Tourists shopping at Ubud Market in Bali, Indonesia. Photo: Shutterstock

Indonesia adds to a list of countries, from Costa Rica to Mexico, offering long-term stays to lure professionals, retirees and other affluent people.

All are seeking to tap into a growing demand for migration options as legions of educated workers, known as digital nomads, look to use their new-found freedom after the pandemic to keep doing their job remotely.

Bali’s back – but so are the ‘trashy tourists’

Indonesia floated plans for a digital nomad visa in 2021, focused on attracting visitors to Bali, the nation’s top destination for international holidaymakers and a major source of foreign exchange earnings.

The timing of the launch coincides with the sharp rebound in foreign tourist arrivals to Indonesia as airlines like Garuda Indonesia resume international flights, and the coming G20 Summit in Bali in November, which is expected to put the international spotlight on the island on top of bringing in tens of thousands of delegates.

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