With a concentration on Bali, Indonesia has entered the competition to draw wealthy foreigners for extended vacations in an effort to strengthen Southeast Asia’s largest economy.
According to a new regulation published on Tuesday, the nation is providing “second home” visas for five and ten years to those with at least 2 billion rupiah ($130,000) in their bank accounts. The new rule becomes operative 60 days after it is published, or on Christmas.
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.”
Acting Director General for Immigration Widodo Ekatjahjana stated that the objective is to draw foreign tourists to Bali and other locations.
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The launch is timed to coincide with both the sharp increase in foreign tourist arrivals to Indonesia as a result of airlines like Garuda Indonesia resuming international flights and the upcoming G-20 Summit in Bali in November, which is anticipated to bring in tens of thousands of delegates in addition to putting the island in the international spotlight.
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.
Foreigners can stay for five or ten years with this visa.
(with inputs from agencies)
