New Visa to Let Tourists With $130,000 Live in Bali for 10 Years

Foreign tourists at a beach side cafe in Canggu, Bali, Indonesia, on May 6. Photo: Bloomberg

(Bloomberg) — Indonesia has entered the race to attract wealthy global citizens for long-term stays, seeking to bolster Southeast Asia’s largest economy with a focus on its trump card: Bali.

The country is offering “second home” visas for five years and 10 years to those with at least 2 billion rupiah ($130,000) in their bank accounts, according to a new regulation issued on Tuesday. The policy takes effect on Christmas, or 60 days after the issuance of the new rule.