New visa allowing 5 to 10 years

mgardner Member

Member since 11 June 2015

mgardnerMember03 November 2022 16:13:13

Hi.

The new visa allowing 5 to 10 year living in Indonesia...

The article mentions needing approx 130k US in the bank.

is that an initial amount that must exist in the bank, or is the amount a total which must be proven to be available over the 5 year period?

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BaliTiger Active member

Member since 06 July 2019

BaliTigerActive member07 November 2022 07:32:32

It is all money in the bank when you apply for your visa. Per person.

Digitarius Serial expat

Member since 02 February 2016

DigitariusSerial expat16 November 2022 23:25:46

233

where did you read this article I'd like to read it also.

Fred Indonesia Expert

Member since 02 August 2009

A smile is the universal welcome.
Max Eastman

FredIndonesia Expert16 November 2022 23:48:39

30171

where did you read this article I'd like to read it also.
-@Digitarius

https://www.expat.com/forum/viewtopic.php?id=1005303

Digitarius Serial expat

Member since 02 February 2016

DigitariusSerial expat29 November 2022 07:33:51

233

I don't like the idea of putting that much money in an Indonesian bank for five years. The visa is cool but that amount in an Indonesian bank.........

GuestPoster1236 Guest

GuestPoster1236Guest30 November 2022 11:45:37

@Digitarius

Indonesia’s credit rating isn’t too flash either.

Having that amount in a bank account likely earning peanut interest is a waste of money.

Given over 5/10 years most decent retirement Superannuation funds have averaged around the 10% mark. Bank interest is 3+% …assuming foreigners are entitled to get it..

You’d be torching close to $10,000 PA in lost earnings.

it would make more sense to just get the retirement Visa .

Plus…reading the info , it would appear they want you to invest in the country as well, so I can imagine they won’t want to be paying you interest on your money for very long.