Bali, Indonesia–The government of Indonesia announced its new visa program, targeted at well-off foreigners who would like to settle in the Southeastern island nation.
The “second-home” visa would allow one to stay in the country for five or ten years. To be eligible, applicants must have two billion Indonesian rupiahs (approximately $130,000) with them, which must be deposited in an Indonesian state-owned bank upon arrival.
Government authorities hosted a press release on October 25 to detail the new visa’s terms and meet with stakeholders, industry players, and the media.
The visa is intended to cater to a new wave of demands that may arise with Bali hosting the G20 summit this November and as local airlines resume International flights.
“Towards the implementation of the G20 Summit, today we officially launched the second-home visa,” said Acting Director General of Immigration Widodo Ekatjahjana during the event. “The goal is to attract foreign tourists to come to Bali and diverse other destinations.”
The visa will roll out into effect starting Christmas day, sixty days after its announcement.
According to the official Immigration website, the applicants must produce the following to apply (Apply now here):
- Copy of passport that is valid for a minimum of thirty-six months.
- Proof of Funds in foreigners’ or sponsors’ bank account (must be placed in Indonesian state-owned banks) of at least Rp2,000,000,000 or equivalent.
- A recent color photograph (4 cm x 6 cm) with a white background.
- Curriculum Vitae.
“This special visa will be given to billionaires, the world’s wealthy people, and investors to encourage the growth of investment in Indonesia, those who intend to stay longer in Indonesia,” said Ekatjahjana adding that those eligible include high net-worth individuals, highly skilled workers, the Indonesian diaspora, and elderly foreign tourists.
Indonesia, an established hotspot for tourism and digital nomadism, also offers visa programs exclusively for digital nomads, allowing applicants to stay up to six months tax-free and earn (from non-Indonesian organizations) through online work.
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Interesting to see more countries trying to lure high net worth folks with enticing nomad deals. Cool to see how it shakes out. I prefer to be purely digital nomadic meaning staying on the minimum visa then moving on to enjoy more of the world and to be regulated less. This seems to be a perk of the lifestyle. At least for me.