Tourists can live in Bali for 10 years if they have $130,000 in bank account

Indonesia launches ‘second home’ visa for wealthy foreigners.

Indonesia is introducing a new visa aimed at attracting wealthy foreigners and boosting the country’s economy.

The South-East Asian country has launched a “second home visa” program that will allow foreigners to stay and work in the country for five to 10 years.

The new visa is eligible for those possessing at least 2 billion rupiah ($130,000) in their bank accounts, according to a new regulation issued on Tuesday.

“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.

According to Indonesian media outlet Tempo, Ekatjahjana said: “This special visa will be given to billionaires, the world’s wealthy people, and investors to encourage the growth of investment in Indonesia, those who intend to stay longer in Indonesia.”

Applicants must be able to bring at least two billion Indonesian rupiahs with them, and the funds must be placed in Indonesian state-owned banks.

The move follows countries like Costa Rica, Mexico, New Zealand and Portugal, which have recently introduced “digital nomad visas” to capitalise on remote workers who want to work overseas after the pandemic upended traditional work structures.

The digital nomad lifestyle is growing in popularity as pandemic-enforced working styles such as remote work become more common.

Last year, over 15 million Americans identified as digital nomads, according to a report.

The timing of the visa launch coincides with the sharp rebound in foreign tourist arrivals to Indonesia as airlines like Garuda Indonesia resume international flights, and the upcoming G-20 Summit in Bali in November.