Indonesia has introduced a second residence visa programme that will permit foreigners to stay and work in the nation for a protracted period in order to draw wealthy tourists for extended stays in Bali. According to a Bloomberg article, the nation has introduced a new ‘second home visa’ of five and ten years for those who have at least 2 billion rupiahs ($130,000) in their bank accounts.
The new rule becomes operative 60 days after it is published, or on Christmas. With this, Indonesia has joined a group of nations, ranging from Costa Rica to Mexico, that allow long-term visits in an effort to entice professionals, retirees, and other wealthy individuals.
Acting Director General for Immigration Widodo Ekatjahjana stated that the objective is to draw foreign tourists to Bali and other locations. Ekatjahjana continued, ‘This is a non-fiscal incentive for some foreigners to contribute favourably to the Indonesian economy’.
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.
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