The Indonesian Immigration Authority has unveiled a Second Home Visa policy targeting upper-middle-class foreign nationals who desire to reside in Indonesia. Launched on December 24, 2022, this visa serves as a modern substitute for the Retirement Visa, which has been in existence for over two decades.

A notable distinction between the Second Home Visa and its predecessor is the financial requirement for applicants. Historically, Retirement Visa applicants needed to demonstrate savings between USD 15,000 and 18,000. The new policy mandates applicants to have at least IDR 2 billion deposited in Indonesian banks. While this sum may be steep for the average foreigner, it’s tailored to attract wealthier individuals. This strategic move is anticipated to entice affluent foreigners to establish a longer residency in Indonesia, with options for 5 or 10-year stays that are extendable.