In a bid to attract wealthy foreigners to Indonesia, Indonesia has turned to its trump card Bali as a way to appeal to wealthy foreigners.
A new “second home visa” of five years and ten years has now been introduced in the country for those who have at least IDR 2 billion (USD 130,000) in their bank accounts to reside there.
On Christmas, the policy takes effect.
“Foreigners with positive contributions to Indonesia’s economy can benefit from this non-fiscal incentive,” said Acting Director General for Immigration Widodo Ekatjahjana.
In joining the ranks of countries like Costa Rica and Mexico, Indonesia is now offering long-term stays as a way to attract professionals, retirees, and other wealthy individuals.
During the year 2021, Indonesia floated plans to offer a digital nomad visa aimed at attracting tourists to the island of Bali.
As of October 14 of last year, Bali slowly reopened its doors to international tourists once again. The Indonesian government has recently been working on ways to reinvigorate the local economy even further by removing restrictions and offering more benefits to tourists.
It has been announced that the Indonesian government has lifted most of its travel restrictions and has implemented a quarantine-free trial period as well as a Visa On Arrival (VOA) scheme for 72 countries, including India, starting March 7, 2022.
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