Bloomberg News reports that Indonesia has geared up to attract wealthy global citizens to avail the facility of a long-term stay. This effort fosters the growth of Southeast Asia’s largest economy. The focus is mainly on the country’s trump card, Bali.
A new “second home visa” for five and ten years for those with at least 2 billion rupiahs, equivalent to $130,000, in their bank accounts, as per a new norm issued on Thursday. This policy will be implemented 60 days after the order is issued or Christmas.
According to Widodo Ekatjahjana, the Acting Director General of Immigration, at an inaugural event on the resort island.
Adding to the List of Long-Term stays
Following the order issuance, Indonesia becomes part of the nations from Costa Rica to Mexico. These countries have been attracting retirees, professionals, and other affluent individuals. Many are trying to avail this opportunity citing the surge in migration options as a group of educated workers referred to as the digital nomads are looking forward to the newfound freedom. These workers have been working remotely after the pandemic, which has made it possible for them.
Bloomberg News reports that Indonesia conceived an idea about a digital nomad visa in 2021, focusing on attracting visitors to Bali, the primary destination for overseas holidaymakers. It is also a major source of earning foreign exchange revenue.
The timing of the new rule coincides with the steep recovery in the arrival of foreign tourists to Indonesia since Indonesia flights like Garuda Indonesia have resumed their international flights. The upcoming G-20 Summit, scheduled to take place in November in Bali, is anticipated to bring tens of thousands of such delegates to the resort island.
