Are You an Eligible Candidate to Get a Retirement Visa in Bali?

Retiring in Bali presents a unique opportunity to transition from a professional life to a leisurely one. Still, it’s not merely packing your bags and hopping on a plane for a vacation. The process involves navigating the intricacies of obtaining a retirement visa in Bali, which, while relatively straightforward, can be time-consuming.

This article delves into the requirements, benefits, and application process for obtaining a retirement visa in Bali, offering insights for those considering this enticing path toward their golden years. So, should you retire in Bali? Let’s explore the possibilities and requirements in detail.

Should You Retire in Bali?

Relocating outside someone’s country of residence to enjoy a pension or savings is not new. Many seek an exotic yet safe place with adequate public facilities and healthcare access.

If you are looking for stunning landscapes, sea or mountains, unique culture, warm climate, and people with a reasonable price tag, look no further. Indonesia—and the island of Bali especially—has it all.

Settle down in Bali is a very different scenario from going on holiday; this is when the paperwork comes into play. Obtaining a retirement visa in Indonesia is relatively straightforward yet time-consuming.

What is Visa Retirement? 

Most retirees opt for a retirement visa, commonly called a Retirement KITAS (Kartu Izin Tinggal Terbatas). 

This temporary visa is initially valid for one year and includes an unlimited re-entry permit. It can be extended annually for a maximum of five years. 

What is A Five-Year Retirement Visa?

As of August 22, 2023, the Indonesian Government introduced a new regulation that allows expatriates wishing to retire in Indonesia to extend their stay for up to five years. 

This regulation specifies that expatriates over 60 who can provide proof of a minimum monthly pension of USD 3,000 can apply for the five-year Retirement KITAS.

READ MORE:

• An In-Depth Guide Into Retirement Visa in Indonesia

Requirements for A Retirement Visa in Bali

InCorp and its specialists are prepared to assist with the entire procedure and can be your sponsor. At present, only citizens from the following countries are eligible for a retirement visa in Indonesia (Visa Tinggal Terbatas Untuk Wisatawan Lansia Mancanegara Indeks 319):

What are the Requirements for A Retirement Visa in Indonesia?

For the visa application to go without a hitch, make sure you meet the following Bali retirement visa requirements:

5-Year Retirement KITAS

1-Year Retirement KITAS

1. Retirees can live in Bali for five years using the Retirement KITAS. 2. Unlike the one-year Retirement KITAS, retirees do not need a sponsor to apply for the five-year Retirement KITAS. 3. Retirees still have the option to apply for the one-year Retirement KITAS if they prefer. 4. Applicants must be at least 60 to qualify for the five-year Retirement KITAS. 5. Retirees must commit to maintaining a minimum of USD 50,000 in a personal account at a state-owned bank, which must be fulfilled within 90 days from the issuance of the Limited Stay Permit. 6. Proof of a pension fund of at least USD 3,000 per month or USD 36,000 per year is required.

1. With the Retirement KITAS, retirees can stay in Bali for one year. 2. A sponsor is required to act as a guarantor during their stay in Indonesia. 3. Applicants must be over 60 to be eligible for the one-year 4. Retirement KITAS. 4. Proof of a pension fund of at least USD 3,000 per month or USD 36,000 per year is necessary.

What Opportunities Does A Retirement Visa Provide?

A Retirement Visa in Indonesia offers several opportunities for retirees looking to enjoy their golden years there. Here are some of the key advantages:

1. Long-Term Stay

A Retirement Visa allows you to reside in Indonesia for an extended period, usually one year. It can be renewed for several years, offering retirees stability and peace of mind.

2. No Work Restrictions

Unlike other visa types, a Retirement Visa doesn’t have work limitations. While you’re not allowed to be employed in Indonesia, you can engage in volunteer work or pursue personal business interests.

3. Property Ownership

As a retirement visa holder, you have the opportunity to purchase property in Indonesia, which will allow you to invest in your dream retirement home.

4. Exploring Indonesia

You can freely travel and explore the diverse and beautiful archipelago of Indonesia. Enjoy the stunning landscapes, cultures, and traditions the country offers.

5. Community Integration

Many expat communities and support networks exist in popular retirement destinations in Indonesia, helping you adapt to your new life more easily.

What Documents Do You Need to Submit for A Retirement Visa in Bali?

The applicant may have to submit the following:

• Four passport photos
• Copy of all passport pages
• Health insurance certificate from the country of origin or Indonesia that covers their medical expenses in Bali
• The rental agreement for a property in Bali
• Statement to declare the employment of an Indonesian assistant, a household worker, etc., while living in Bali
• Statement of not engaging in any business activities or work in Indonesia
• Curriculum vitae

How Much Do You Need to Retire in Bali? 

The cost of living in Bali varies widely based on individual preferences. A budget of USD 1,500 USD  is usually sufficient for most people, assuming an affordable rental and reasonable living expenses.

However, staying in a luxury villa and dining at high-end restaurants could make this amount insufficient, as costs could increase quickly.

Retiring in Bali will also depend on personal choices. The visa costs around USD 800-USD 1,000, with additional expenses for import taxes, freighting, flights, medical insurance, local staff wages, rent, and food.

Eating at the street food vendors is cheaper than dining at Western-style restaurants.

READ MORE:

• Visa Sponsorship in Indonesia: A Brief Guide

How to Get A Retirement Visa in Bali?

If you’re considering a Retirement Visa in Bali, Indonesia, here’s an overview of the application process:

1. Eligibility

To be eligible, you must be at least 55 and have proof of sufficient financial means to support yourself in Indonesia.

2. Financial Requirements

You’ll need to demonstrate a regular income from a pension, investments, or other sources. The exact financial requirement may vary and should be verified with the Indonesian authorities.

3. Health Insurance

Some regions, like Bali, may require health insurance coverage. Ensure you have adequate coverage as per local regulations.

4. Application Submission

Submit your application to the Indonesian immigration authorities, which typically involves:

• Filling out the necessary forms
• Providing the required documents, such as source of income, health insurance, and passport-sized photos.

5. Review Process

The immigration authorities will review your application, so it is important to ensure that all documents are accurate and current.

6. Interview

You may be required to attend an interview to confirm your eligibility and intentions for staying in Indonesia.

7. Visa Approval

If your application is approved, you’ll receive your Retirement Visa, allowing you to stay in Indonesia for the specified period. It’s essential to maintain compliance with visa requirements during your stay.

8. Renewal

Retirement visas are typically granted for one year and may be renewed annually upon meeting the financial and other requirements.

What are the Benefits of A Retirement Visa in Bali?

Possessing a Temporary Residence Permit (KITAS) for retirement purposes, valid for a year and could be extended five times in total, brings advantages and perks that make life in Bali much easier without the necessity of leaving the country for regular visa renewal. 

Here are some Bali retirement visa benefits:

• Open a bank account
• Get a local driving license
• Obtain MERP (Multiple Exit Re-Permit)
• Purchase a vehicle in your name
• Get local prices and discounts

READ MORE:

• What Should You Prepare to Get a Retirement Visa in Indonesia?

Let InCorp Handle Your Retirement Visa Easily

Are you considering retiring to Bali? InCorp Indonesia can help you navigate the process of obtaining a Retirement Visa (Temporary Residence Permit).

With our expert consultants, you can ensure a smooth transition to your new life in Bali. Our services include:

• Document Preparation: We ensure you have all the required documents for the application.
• Sponsorship: We act as your sponsor, applying on your behalf to the Indonesian immigration authorities.
• Visa Application Assistance: We assist in obtaining a visa from the Indonesian embassy in your country of residence.
• Information and Assistance: We offer guidance and support throughout the entire process, including paperwork related to the Retirement Visa.

To obtain your Retirement Visa in Bali, please do not hesitate to contact our specialist by filling out the form below.