Indonesia starts offering 10-year visas to attract foreigners

The Second Home Visa only requires a single application, which means foreigners only need to apply once for a visa, limited stay permit and re-entry permit. Minister for Law and Human Rights Yasonna Laoly announced the scheme this week.

To be eligible for the program, foreigners are required to show proof of funds of 2 billion rupiahs ($128,000) or property ownership in Indonesia, the Indonesia Expat news site reported.

The proof of funds deposited at an Indonesian state-owned bank or property ownership certificates must be shown to officers at the immigration office no later than 90 days after the issuance date of their Second-Home Stay Permit, it said, adding that applicants are also required to pay a non-tax state revenue charge of 3 million rupiahs.

Other Southeast Asian nations, such as Thailand, Cambodia and Malaysia, are also vying for wealthy foreigners by launching golden visas with stays of up to 20 years.

After reopening to international tourism on March 15, Vietnam stopped issuing multi-entry visas for three months or longer, and is now only issuing 30-day, single entry visas.

Many foreigners see Vietnam as an ideal place for retirement with friendly people, natural landscapes and diverse tourism activities. However, strict visa policies are keeping them away.