Ranked as one of Asia’s favorite retirement spots, Bali makes it easy to settle into a laid-back lifestyle surrounded by a warm, welcoming community. Plus, with the Retirement KITAS, the Indonesian government has made it simpler than ever for retirees who feel the pull of Bali’s unique charm. This visa also comes with some great benefits like multiple entries into the country and the ability to open a local bank account. To make it short, let’s dive into more detail about the Bali retirement visa.
How to Retire in Bali: Visa Options for Retirees
Retirement Visa Options
There are several retirement visa options available in Indonesia, each with its own set of requirements and benefits. The most common options include the Retirement Visa (1y) – E33F, which requires a guarantor (sponsor) and a bank account statement with at least a USD 2000 balance. This option is ideal for those who want to test the waters before committing to a longer stay.
On the other hand, the Golden Visa – Silver Hair Visa (5y) – E33E is designed for those looking for a more extended stay. This visa requires a deposit of an equivalent of USD 50,000 in a state-owned bank and proof of income of at least USD 3,000 per month. Another option is the Second Home Visa, which allows for 5 or 10-year stays but prohibits work and requires a deposit or proof of property ownership. Each of these visas caters to different needs and financial situations, providing flexibility for retirees.
Other Visas
- Tourist Visas: If you’re not ready to commit to a longer stay, a tourist visa might be the way to go. However, it’s only valid for 30 days and requires you to leave Indonesia every 30 days. It’s not ideal for those who want to settle in Bali in the long term.
- Multiple-Entry Permits: These permits allow you to enter and exit Indonesia multiple times within a certain timeframe. Great for frequent flyers, but not ideal for retirees.
The type of visa you should get depends on your retirement goals, finances, and how long you plan to stay in Bali. Take the time to weigh your options and consult with a visa agent to make the process as smooth as possible.
Choosing the Right Visa
Choosing the right retirement visa can be a daunting task, especially with the various options available. It’s essential to consider factors such as the length of stay, travel plans, and financial requirements. For example, the Retirement Visa (1y) – E33F is suitable for those who want to stay in Indonesia for a shorter period, while the Golden Visa – Silver Hair Visa (5y) – E33E is better suited for those who want to stay for an extended period.
It’s also important to consider the requirements for each visa, such as the need for a guarantor or a deposit in a state-owned bank. Evaluating your financial situation and long-term plans will help you make an informed decision that aligns with your retirement goals.
Benefits of a Retirement Visa
A retirement visa provides several benefits, including the ability to live in the country for an extended period of time, a multiple entry permit, and the ability to open a local bank account. Additionally, retirement visa holders are allowed to purchase property in Indonesia, which can be a great investment opportunity.
The visa also provides a sense of security and stability, allowing retirees to establish a routine and build a life in Indonesia. With the multiple entry permit, retirees can travel freely without the hassle of reapplying for a visa each time they leave and re-enter the country. This flexibility, combined with the ability to manage finances locally through a bank account, makes the retirement visa an attractive option for many.
Retirement Visa Requirements
1. Bali Retirement Visa Requirements
If you’re dreaming of retiring in Bali, you’ll want to understand the retirement visa options in Indonesia. The Retirement KITAS, or Indonesian Retirement Visa, is a temporary residence permit designed specifically for retirees.
To be eligible for the Retirement KITAS, you’ll need to meet the following requirements:
- Be at least 55 years old (women) or 60 years old (men)
- Have a Bank account proving income or allowance of US$3,000 per month
- Have health insurance that covers you in Indonesia
- Be married or have a domestic partner
The Retirement KITAS is valid for one year and can be renewed annually. You’ll need to leave Indonesia for 1-6 months every year, and then re-enter the country on a new visa. This visa option is perfect for those who want to spend more time in Bali and enjoy the local culture, but don’t qualify for a permanent residence visa.
2. Documents Needed
To increase your chances of getting a Retirement Visa in Indonesia, make sure you gather and prepare the following documents:
- Passport: Your passport must be valid for at least 18 months and have at least 6 blank visa pages.
- Proof of Income: Bank statements or pension documents showing a minimum monthly income of USD 1,500.
- Health Insurance: A copy of your health insurance policy that covers you in Indonesia is mandatory.
- Rental Agreement: A rental agreement for your Indonesia home that is signed and notarized is required. The rental must be for at least 1 year.
- Employment Statement: A statement declaring your intention to hire local staff.
- Curriculum Vitae (CV): A detailed CV with your personal and work history is required.
- Passport Photos: Usually, 4 recent photos with a red background are enough.
- Temporary Residence Permit: The Temporary Residence Permit (KITAS) is crucial for your stay. It is valid for one year and can be renewed multiple times. Proper documentation is essential to navigate potential bureaucratic challenges.
3. Selecting a Sponsor
According to Indonesian law, a local sponsor is mandatory for the Retirement KITAS. Your sponsor is usually a government-approved visa agent or a travel agency that can help you with the application process and act as your guarantor while you’re in Indonesia.
4. Submitting the Application
Your sponsor will help you submit your application to the Indonesian immigration department. This usually involves:
- Application Forms: Your sponsor will provide you with the necessary forms to fill out.
- Document Submission: Make sure you include all the required documents listed above.
- Processing Time: The application process takes around 4 to 6 weeks.
If you are already in Indonesia, you can apply for a retirement visa onshore, but you must first enter the country under an alternative visa, as a tourist visa cannot be converted directly to a retirement visa onshore.
5. Visa Approval Notification (VAL)
Once your application is approved, you’ll receive a Visa Approval Letter (VAL). This letter allows you to get your visa at an Indonesian embassy or consulate in your home country or upon arrival in Indonesia, depending on your arrangement with your sponsor.
Renewal and Extension
Renewing your Retirement KITAS in Bali is relatively easy. Every year, you’ll need to renew it by showing proof of funds and your Bali address to demonstrate you still meet the income requirements and have a stable home in Indonesia. It’s essential to keep these documents up to date to make renewal a hassle-free process. Current retirement visa holders will not face changes in their renewal process despite ongoing legislative updates.
After holding a Retirement KITAS for 5 years, you can apply for a Permanent Stay Permit, also known as a KITAP. This upgrade allows you to stay in Indonesia for 5 years at a time and eliminates the need for frequent renewals. To be eligible, you must meet certain requirements, such as maintaining continuous residency in Bali and having a minimum amount of money in the bank—around IDR 25,000,000 (USD 1,700) per month. This is a great option if you plan to make Bali your permanent home.
Re-Entry Permits
If you plan on leaving Indonesia and re-entering frequently, you should understand re-entry permits. Your Retirement KITAS usually allows multiple entries, but it’s always best to check the current regulations. Continuous residency is mandatory; long trips abroad could affect your chances of getting future renewals or upgrades.
Bali Retirement Financial Facts
Getting an Indonesian Bank Account
Opening a bank account in Indonesia is a straightforward process. You’ll need your passport and a valid visa, as well as a small initial deposit. Some banks might request additional documents, such as a residence certificate (SKAT) and tax ID number (NPWP). Once your account is set up, you can easily manage your daily expenses, pay bills, and receive money in Indonesia.
Financial Requirements
To be eligible for a retirement visa in Indonesia, you must prove you’re financially stable. This means showing a minimum monthly income of USD 3,000 from a pension or other sources. Bank statements or pension fund documents are acceptable as proof. Some visa types also require a USD 50,000 deposit into a state-owned Indonesian bank.
Foreigner-Friendly Investment Options
Indonesia offers many investment opportunities for foreign retirees. Foreigners can’t own freehold land, but you can invest in property by leasing a home or apartments or setting up a foreign investment company (PT PMA) to lease land. A leasehold system allows you to secure a 20-year lease, with the option to renew for another 20 years, 40 years, or even 80 years. As a retirement visa holder, you have unique opportunities to invest in property, making it easier to secure a retirement home in Indonesia.
The Indonesian government also introduced a Second Home Visa that allows certain individuals to purchase property in Indonesia.
Other viable investment options in Indonesia include tourism, manufacturing, and services. It’s best to consult with local experts to understand the regulations and make smart decisions.
Can I Bring Family Members Using a Bali Retirement Visa?
Yes, you can bring your family along when you retire in Bali! But, before you start packing, it’s good to know the rules and requirements.
Dependent Visa Requirements
Your spouse and children can accompany you to Bali on a dependent visa tied to your retirement visa. This allows them to live with you in Indonesia, but they cannot work. Children must be under 18 years old and unmarried.
Necessary Documents for Dependents
To apply for dependent visas, you’ll need to present the following documents:
- Proof of Financial Support: Show you have enough money to support your family while you’re in Indonesia, either through bank statements or pension benefit documents.
- Marriage Certificate: A copy of your marriage certificate to prove your relationship with your spouse.
- Children’s Birth Certificates: Copies of birth certificates for each child to establish their age and your relationship with them.
All documents must be in English or Indonesian. If they’re in another language, you’ll need to get official translations by a certified translator.
Sponsor Responsibilities
As the primary visa holder, you’re responsible for your dependents and must sponsor them. This means ensuring they obey Indonesian laws and visa regulations. You’ll also need to provide proof of sufficient funds to support them during your stay.
Common Issues and How to Resolve Them
Let’s talk about some of the common issues and how to handle them.
Immigration Rules and Regulations
Indonesian immigration regulations change occasionally, so it’s essential to stay informed. Some advice you hear might be outdated or incorrect. For example, some retirees are worried about new luxury visa schemes that may affect their retirement visas.
To avoid issues, always check official sources or consult a trusted immigration expert.
Issues with Current Retirement Visas
Many retirees struggle with visa issues. One common problem is meeting the financial requirements. Indonesia requires retirees to show a certain income level to prove they’re financially self-sufficient. If you have any issues with your income, it could affect your visa. Another important thing to remember is to always keep your health insurance up to date. Staying informed about any visa conversions you may need under new regulations is also crucial. The process can be confusing, so it’s best to ask the right questions and get the correct advice.
Renewing Your Retirement Visa and Re-Entry Permit
Your retirement visa (KITAS) needs to be renewed every year. It’s essential to start the process early to avoid overstaying. You’ll need to provide updated documents, including proof of income and health insurance. If you plan on leaving Indonesia and re-entering, make sure your re-entry permit is still valid. Some retirees have trouble re-entering Indonesia because their permits have expired or they didn’t understand the process.
Preventative Measures to Avoid Issues
- Stay Informed: Check the official Indonesian immigration website regularly or work with a reputable agent.
- Plan Ahead: Start your visa renewal process before your current visa expires.
- Keep Documents Up to Date: Make sure all your paperwork, including bank statements and insurance documents, is updated.
- Seek Professional Advice: If you’re ever unsure about anything, it’s always best to seek the advice of experts who are well-versed in Indonesian immigration laws.
Tips for a Smooth Application Process
To ensure a smooth application process, it’s essential to follow these tips:
- Gather all required documents: Make sure to have all the necessary documents, including a valid passport, birth certificate, marriage certificate (if applicable), and proof of income.
- Choose the right visa: Consider your length of stay, travel plans, and financial requirements to choose the right retirement visa.
- Meet the financial requirements: Ensure that you meet the financial requirements for the chosen visa, such as having a bank account statement with at least a USD 2000 balance or depositing an equivalent of USD 50,000 in a state-owned bank.
- Obtain health insurance: Some regions, like Bali, may require health insurance coverage. Make sure to obtain adequate health insurance coverage.
- Submit your application: Submit your application to the Indonesian immigration authorities, either onshore or offshore, depending on your circumstances.
- Attend an interview: Be prepared to attend an interview with the Indonesian immigration authorities, either in person or via video conference.
- Seek assistance: Consider seeking assistance from a reputable third-party service, such as visa-indonesia.com. What I like about them is that they’ll help you to smooth your visa application process. They will also call you to confirm if you want to extend your visa or not. This way, you’ll avoid getting slammed with a costly overstay fine.
By following these tips, you can ensure a smooth application process and enjoy your retirement in Indonesia.