₹ 1 crore Will Give You A “Second Home” Visa For 10 Years In This Country.
Indonesia has entered the race to attract wealthy global citizens for long-term stays, seeking to bolster Southeast Asia’s largest economy with a focus on its trump card: Bali.
If you are a digital nomad and have the cash you could take this opportunity.
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The country is offering “second home” visas for five years and 10 years to those with at least 2 billion rupiah ($130,000 or ₹ 1 crore) in their bank accounts, according to a new regulation issued on Tuesday. The policy takes effect on Christmas, or 60 days after the issuance of the new rule.
“This is a non-fiscal incentive for certain foreigners to make a positive contribution to the Indonesian economy,” said Acting Director General for Immigration Widodo Ekatjahjana during a launch ceremony in the resort island.
Other countries offering mouth-watering long-term stays to lure professionals, retirees and other affluent people this way are countries like Italy, Costa Rica, and Mexico.
All of them are seeking to tap into a growing demand for migration options as legions of educated workers, known as digital nomads, look to use their newfound freedom after the pandemic to keep doing their job remotely.
Indonesia floated plans for a digital nomad visa in 2021, focused on attracting visitors to Bali, the nation’s top destination for international holidaymakers and a major source of foreign-currency earnings.
The Indonesian government also lifted most of its travel restrictions and implemented a quarantine-free trial period and a Visa On Arrival (VOA) scheme on March 7, 2022 for 72 nations, including India.
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The timing of the launch coincides with the sharp rebound in tourist arrivals to Indonesia as airlines like Garuda Indonesia resume international flights. The upcoming G-20 Summit in Bali in November is expected to put the international spotlight on the island on top of bringing in tens of thousands of delegates.
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