To attract wealthy global citizens for long-term stays, Indonesia has introduced a ‘second home’ visa to bolster Southeast Asia’s largest economy.
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Indonesia 10-year second home visa: Who can apply?
The country is offering “second home” visas for five years and 10 years, with Bali as its trump card. Anyone with at least 2 billion rupiah (Rs 1 crore) in their bank accounts can apply under the program.
Reuters
The policy takes effect on Christmas, or 60 days after the issuance of the new rule. The main goal of the program is to attract foreign tourists to come to Bali and various other destinations.
The timing of the launch coincides with the sharp rebound in foreign footfall in Indonesia as airlines like Garuda Indonesia resume international flights. The upcoming G-20 Summit in Bali in November, is expected to put the international spotlight on the island on top of bringing in tens of thousands of delegates.
Reuters
Foreigners can stay for 5 to 10 years with the visa
Acting Director General for Immigration Widodo Ekatjahjana stated this during a launch event on the tourist island: “This is a non-fiscal incentive for certain foreigners to make a positive contribution to the Indonesian economy.”
With this visa, foreigners can stay for 5 (five) or 10 (ten) years and carry out various activities, such as investment and other activities.
Reuters
Indonesia joins a list of nations from Costa Rica to Mexico that allows long-term visits in an effort to entice professionals, pensioners, and other wealthy individuals. All are attempting to capitalise on the rising demand for relocating choices as hordes of educated workers—known as digital nomads—look to continue working remotely using their newly found freedom following the pandemic.
The country would be hoping the new program entices as many foreigners as possible and helps boost the economy going forward.
h/t: Bloomberg
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