For decades, countless foreigners have packed their bags to settle in one of the many beautiful Indonesian islands. However, staying long-term has always been complicated and involved many regulatory hurdles. Now, the central government is set to make long-term living in Indonesia much easier with the new second-home visa.
This visa allows foreigners to stay in the country for five or ten years. It also helps them carry out business activities, like investing and entrepreneurship. This is particularly useful for any foreigners looking to buy a villa in Bali or start an investment in Bali.
“We have seen an influx of inquiries following on from the announced new visa… with many foreigners considering buying a second home in Bali,” President Director Adrian Savage has said. “The piqued curiosity has translated into increased sales, especially amongst some of our most popular residential development projects.”
Mirah Investment & Development’s recently launched apartment complex Kiara Ocean Place, which sits steps from Batu Belig beach between the highly popular Seminyak & Berawa regions, has less than 10% of units available. The project launched in November 2022.
In this article, we’ll clear up any confusion about the second-home visa and help you plan your next move to Indonesia.
Kiara Ocean Place – Serviced luxury apartments next to Batu Belig beach.
The Directorate General of Immigration, Widodo Ekatjahjana, officialized the visa in December 2022. To further strengthen Bali’s tourism industry, Widodo used the visa launch as a stepping stone. Foreigners interested in living in Bali long-term, buying Bali real estate, and contributing to the economy can now settle on the island with ease.
Ekathjahjana compared the visa to a “toll road that eases the entry of international tourists, global talents, businessmen and global investors…within this toll road, a “rest area” has been provided that is supported with regional service outlets.”
These services include:
The visa targets those looking to retire in Indonesia, potential investors, and travelers. Second-home visa holders can make business investments with more convenience. Foreigners who own a business in Bali – called a PT PMA – will receive the Right to Build. This allows them to buy the property and hold it as an asset.
With the second home visa, foreigners will have five to ten years to establish a business. For many, buying a villa in Bali is a dream. And now that dream is much easier to obtain.
PRO TIP! Mirah Investment & Development offers in-house legal & immigration services for all clients – delivering them the legal mean to live in Bali and earn from their assets.
With regards to the second home visa, there are several regulations and conditions a person has to fulfill when applying for the visa. They are as follows:
Live, work & invest in Bali? It’s possible!
The permit is a strategic move by Indonesia to help global investors and encourage the development of the property sector in a safe and legal way. Simply put, this means second-home visa holders can buy property via their businesses. They can also make long-term financial investments in that business. Furthermore, visa holders enjoy several permits not frequently allowed to foreigners. They include permits for tourism, business property, manpower, and factory construction.
All these permits streamline the investment process in Indonesia. Immigration expects that this new policy will drive the domestic property business climate and act as a stepping stone for larger investment opportunities in Bali and throughout the country.
“The government’s announcement, and what we’ve been seeing in recent years [from the Bali property market], especially after the pandemic… is the continuing trend that more ex-pats are looking to Bali as more than just a holiday destination, but as a place to live and settle down,” Adrian Savage continued.
“Bali is not only a viable option, but has become the preferred option for many Westerners looking to live abroad, or for Ex-pats looking to leave other dense cities around Asia.”
Mirah Investment & Development’s in-house legal staff offers end-to-end services for all clients including legal, taxation, and immigration services & guidance.
Contact us today to learn more about the second home visa and what real estate investment opportunities await you in Bali.
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