Indonesia has rolled out “second home” visas in a bid to attract wealthy foreigners to the Southeast Asian country for a long-term stay. The visas are for durations of five and 10 years for a stay in Bali, the country’s prime tourist destination.
According to reports, the visas are meant only for those who have at least IDR 2 billion (USD 130,000) in their bank accounts.
The launch of the visa plan comes at a time when Indonesia is witnessing a rise in tourist arrivals. It also comes just ahead of the G-20 Summit in Bali in November, which will likely bring tens of thousands of delegates to the tropical island known for its beaches, forests and world-renowned hotels and resorts.
The “second home” visa plan was officially launched on October 26 with a stated objective to bolster Indonesia’s economy.
“This is a non-fiscal incentive for certain foreigners to make a positive contribution to the Indonesian economy,” Bloomberg quoted Widodo Ekatjahjana, Acting Director General for Immigration, as saying following the official launch.
Ekatjahjana had originally announced the scheme on October 13.
According to Indonesian media outlet Tempo, Ekatjahjana had then said, “This special visa will be given to billionaires, the world’s wealthy people, and investors to encourage the growth of investment in Indonesia, those who intend to stay longer in Indonesia.”
Ekatjahjana also said that those eligible include high net-worth individuals, highly skilled workers, the Indonesian diaspora and elderly foreign tourists.
Those willing to take up the scheme will have to furnish four documents. According to Tempo, Immigration’s written statement says that applicants will have to give proof of funds, a national passport valid for at least 36 months, a recent colour photograph, and a curriculum vitae.
All applications will be submitted through a website-based application at visa-online.imigrasi.go.id.
The Bloomberg report says that the policy could come into effect on Christmas, “or 60 days after the issuance of the new rule.”
Indonesia’s “second home” visa scheme places it among a select group of countries that already have long-term stay plans for foreigners, such as Costa Rica and Mexico.
Earlier in June 2022, Indonesia also revealed plans of introducing a five-year digital nomad visa for Bali. Several other countries, including Spain, have also announced their digital nomad visa plans.