Indonesia launches “golden visas” and benefits for foreign tourists and investors

After restrictions related to the COVID-19 pandemic were lifted, tourist arrivals are starting to pick up on the island of Bali. In response, Governor Wayan Koster is working on new tourism measures to restrict the entry of unwanted tourists who break the laws and attract investors who will boost the country’s economy. The official notes that tourism will remain an important part of Bali’s identity but with a different plan.

Bali will continue to offer incentives and relaxed regulations on foreign employment in order to boost the local economy. Also, local developers plan to build research and medical hubs on the island, hotels for tourists and care facilities for the elderly.

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The most interesting and promising measure is the introduction of a «golden visa». Foreign nationals working in the field of digital technology, healthcare and other areas have the opportunity to obtain this type of visa. This will entitle them to buy real estate in the country and an accelerated citizenship programme. The programme is in the final stages of development and will be launched in the next few weeks. The visa is valid for a period of between five and ten years. Due to this measure, Bali can attract new investors and grow the economy by creating an attractive environment for foreign professionals.

Source: Bloomberg, DetikBali

Author: Julia Naymushina