With nomad visa and $130K in account, you can 'work from Indonesia' for 10 years

Jakarta, Oct 28: Have $130,000 in your bank account? Then you might consider moving to Indonesia for 10 years. Yes, the Southeast Asian country is now offering "second home" for the wealthy citizens, 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," Bloomberg quoted Acting Director General for Immigration Widodo Ekatjahjana as saying during a launch ceremony in the resort island.

Indonesia has come up with a digital nomad visas, which allows people to work remotely in a foreign country, to attract visitors to Bali.

The country now allows people, who at least have 2 billion rupiah ($130,000 or approximately Rs 1.07 crore) in their bank accounts, to settle in the country for five to 10 years. The policy will be launched on Christmas, or 60 days after the issuance of the new rule, the report adds.

This is the latest addition to the list of countries which are trying to attract professionals, retired people and other affluent people by offering long-term stays.

Since the world was hit by COVID-19 and remote work gaining prominence, many countries are focusing on giving migration options.

Costa Rica, Norway, Mexico, Portugal and Argentina are some of the countries that have floated digital nomad visas.