New Visa to Let Tourists With $130,000 Live in Bali for 10 Years
- New policy to take effect 60 days after the issuance of rule
- Plan coincides with rising tourist arrivals, G-20 event
Indonesia adds to a list of countries from Costa Rica to Mexico offering long-term stays to lure professionals, retirees and other affluent people.
Photographer: Putu Sayoga/BloombergThis article is for subscribers only.
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.
The country is offering “second home” visas for five years and 10 years to those with at least 2 billion rupiah ($130,000) 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.