In a bid to attract wealthy global citizens for long-term stays, Indonesia is inviting these citizens in order to bolster Southeast Asia’s largest economy with a focus on its trump card: Bali.
“Second Home” Visa by Indonesia
As per the new regulation issued on Tuesday, the country is offering “second home” visas for five years and 10 years to those with at least 2 billion rupiah ($130,000) in their bank accounts.
It will be on the eve of Christmas or 60 days after the issuance of the new rule that the policy will take effect.
Widodo Ekatjahjana, Acting Director General for Immigration, during a launch ceremony in the resort island said that “This is a non-fiscal incentive for certain foreigners to make a positive contribution to the Indonesian economy”.
Why Do Countries Provide Such Visas?
There have been countries from Costa Rica to Mexico offering long-term stays to lure professionals, retirees and other affluent people. Indonesia is the new addition to this.
All these nations are desirous and want to tap into a growing demand for migration options as legions of educated workers, known as digital nomads, look to use their newfound freedom after the pandemic to keep doing their job remotely.
It was in 2021 that the country floated plans for a digital nomad visa. This was focused on attracting visitors to Bali, the nation’s top destination for international holidaymakers and a major source of foreign-currency earnings.
The timing of this announcement also happens to coincide with the sharp rebound in tourist arrivals to 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.
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