Indonesia has announced a “second home visa” program to entice wealthy global citizens for long-term stays in Bali and other places. The program will allow foreigners to stay and work in the country for five to ten years. According to a new regulation published on Tuesday, persons with at least 2 billion rupiahs ($130,000) in their bank accounts are eligible for the new “second residence visa” of five and ten years.
The policy goes into force on Christmas, or 60 days after the new rule is issued. According to Acting Director General for Immigration Widodo Ekatjahjana, the purpose is to encourage foreign tourists to Bali and other places.
The launch coincides with a sharp increase in foreign tourist arrivals to Indonesia as airlines such as Garuda Indonesia resume international flights, as well as the upcoming G-20 Summit in Bali in November, which is expected to put the island in the international spotlight in addition to bringing in tens of thousands of delegates.
Foreigners with this visa can stay for 5 (five) or 10 (ten) years and engage in various activities such as investment and other activities. Applications for a second home visa can be made online using a website (visa-online.imigration.go.id).
The documents required include a national passport that is valid and will be valid for at least 36 (thirty-six) months, Proof of Fund in the form of an account owned by a foreigner, or a Guarantor with a value of at least Rp. 2,000,000,000.00 (two billion rupiahs) or equivalent, a recent color photograph with a size of 4 cm x 6 cm (four centimeters by six centimeters) on a white background, and Curriculum Vitae (Curriculum Vitae).
Indonesia joins a growing list of countries, from Costa Rica to Mexico, that are granting long-term stays to entice professionals, retirees, and other wealthy individuals. All are attempting to capitalize on the growing demand for mobility possibilities as legions of educated employees, dubbed digital nomads, seek to exploit their newfound freedom following the pandemic to continue working remotely.
Thailand made a significant step earlier this week toward granting foreigners the ability to buy land for houses, as the country aims to bolster its economy by attracting more affluent international investors. Individual property ownership is currently limited to condominium units or through convoluted long-term lease agreements.
The new proposal, approved by the Cabinet on Tuesday, will allow qualifying foreigners to own up to one rai (0.4 acres) of land for residential use, according to government spokesman Anucha Burapachaisri after the weekly ministerial meeting.
The scheme is aimed at top professionals, high-net-worth individuals, and retirees who would be able to purchase property sites exclusively in Bangkok and Pattaya, a beachside city about two hours’ drive from the country’s capital. Indonesia has proposed a digital nomad visa for 2021, with the goal of enticing visitors to Bali.
On October 14, last year, Bali gradually reopened to international tourists, and the Indonesian government has been working to further revitalize the local economy by lifting restrictions and offering more advantages for visitors.
On March 7, 2022, the Indonesian government relaxed most travel restrictions and introduced a quarantine-free trial period as well as a Visa On Arrival (VOA) scheme for 72 nations, including India.
Bali is a province of Indonesia and the westernmost of the Lesser Sunda Islands. The province includes Bali as well as a few smaller nearby islands, most notably Nusa Penida, Nusa Lembongan, and Nusa Ceningan, located east of Java and west of Lombok.
Denpasar, the province capital, is the most populous city in the Lesser Sunda Islands and, after Makassar, the second-largest in Eastern Indonesia. Ubud, in Greater Denpasar, is known as Bali’s cultural center. The province is the most popular tourist destination in Indonesia, with tourism growing dramatically since the 1980s. Tourism-related industries make up 80% of the country’s GDP.
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