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.
Detail about For 1 Crore, the Indonesian country will grant you a 10-year “second home” visa:
A newly released regulation states that persons with at least 2 billion rupiahs ($130,000 or 1 crore) in their bank accounts are eligible for “second house” visas that are valid for five and ten years. The new rule becomes operative 60 days after it is issued, or on Christmas.
During a launch event on the vacation island, Acting Director General for Immigration Widodo Ekatjahjana stated, “This is a non-fiscal inducement for some foreigners to make a constructive contribution to the Indonesian economy.”
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 capitalize 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.
In order to draw tourists to Bali, the country’s top destination for international vacationers and a significant source of foreign currency profits, Indonesia unveiled proposals for a digital nomad visa in 2021.
As international flights by carriers like Garuda Indonesia have resumed, there has been a substantial uptick in visitor arrivals to Indonesia at the same time as the launch. The next G-20 Summit in Bali in November is expected to bring tens of thousands of attendees as well as international attention to the island.
