If you have the moolah, you can now stay in this island paradise for 10 yearsIf you have the moolah, you can now stay in this island paradise for 10 years

Tourists can now stay for longer in Indonesia’s island paradise, Bali as the country has just launched a “second home visa” program through which foreigners can stay and work in Indonesia for 5 to 10 years. Those possessing at least 2 billion rupiah ($130,000) in their bank account can avail of this opportunity, the newly issued regulation stated.

The new visa policy will come into effect on Christmas, or 60 days after the issuance of the new rule, a Bloomberg report said. In words of the Acting Director General for Immigration Widodo Ekatjahjana, the goal behind this new policy is to attract more foreign tourists to come to Bali. He added that the move is to let certain foreigners make a positive contribution to the Indonesian economy.

Through this visa, foreigners can stay for 5 to 10 years in the country. People can apply for the second home visa online through the website (visa-online.imigration.go.id). The following documents are required for the application:

1. National passport, which will be valid for a minimum of 36 (thirty-six) months
2. Proof of Fund in the account owned by a foreigner with a value of at least Rp. 2,000,000,000.00 (two billion rupiah) or equivalent
3. A recently clicked color photograph of size 4 cm x 6 cm (four centimeters by six centimeters) with a white background and
4. A Curriculum Vitae (Curriculum Vitae).

A week before, Thailand gave foreigners the right to buy land for housing in the country. This came as Thailand seeks to boost its economy by attracting wealthy international investors. At present, individuals can take property ownership by individuals is currently limited mainly to condominium units or through complicated long-term lease agreements.

Indonesian airlines like Garuda Indonesia have resumed international flights, which is expected to bring a sharp rebound in tourist arrivals ahead of the upcoming G-20 Summit. The Summit, which is set to take place in November, will bring in thousands of delegates.

Also read: How Suella Braverman has put India-UK free trade deal on the verge of collapse

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