Indonesia has rolled out “second residence” visas in a bid to draw rich foreigners to the Southeast Asian country for a long-term keep. The visas are for durations of 5 and 10 years for a keep in Bali, the nation’s prime tourist destination.

In keeping with stories, the visas are meant solely for many who have not less than IDR 2 billion (USD 130,000) of their financial institution accounts.

The launch of the visa plan comes at a time when Indonesia is witnessing an increase in vacationer arrivals. It additionally comes simply forward of the G-20 Summit in Bali in November, which can doubtless deliver tens of hundreds of delegates to the tropical island identified for its seashores, forests and world-renowned hotels and resorts.

All the pieces we all know concerning the ‘second residence’ visa scheme

Geared toward boosting Indonesia’s financial system

Bali
Picture credit score: Mathis Jrdl/@mtsjrdl/Unsplash

The “second residence” visa plan was formally launched on October 26 with a said goal to bolster Indonesia’s financial system.

“This can be a non-fiscal incentive for sure foreigners to make a constructive contribution to the Indonesian financial system,” Bloomberg quoted Widodo Ekatjahjana, Appearing Director Common for Immigration, as saying following the official launch.

Ekatjahjana had initially introduced the scheme on October 13.

In keeping with Indonesian media outlet Tempo, Ekatjahjana had then stated, “This particular visa will probably be given to billionaires, the world’s wealthy people, and buyers to encourage the expansion of funding in Indonesia, those that intend to remain longer in Indonesia.”

Ekatjahjana additionally stated that these eligible embody high net-worth individuals, extremely expert employees, the Indonesian diaspora and aged international vacationers.

The right way to apply for the long-term visa

These keen to take up the scheme must furnish 4 paperwork. In keeping with Tempo, Immigration’s written assertion says that candidates must give proof of funds, a national passport legitimate for not less than 36 months, a current color {photograph}, and a curriculum vitae.

All functions will probably be submitted via a website-based utility at visa-online.imigrasi.go.id.

The Bloomberg report says that the coverage may come into impact on Christmas, “or 60 days after the issuance of the brand new rule.”

Indonesia’s “second residence” visa scheme locations it amongst a choose group of nations that have already got long-term keep plans for foreigners, reminiscent of Costa Rica and Mexico.

Earlier in June 2022, Indonesia additionally revealed plans of introducing a five-year digital nomad visa for Bali. A number of different international locations, together with Spain, have additionally introduced their digital nomad visa plans.

(Fundamental picture: Sebastian Pena Lambarri/@sebaspenalambarri/Unsplash; Featured picture: Nick Fewings/@jannerboy62/Unsplash)

This story first appeared on Lifestyle Asia Kuala Lumpur





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