'Digital nomad' visas are easier to get than ever — especially if you're rich

Money can buy many things — a tasty meal, a nice car, a luxurious home.

But what about a long-term stay as a digital nomad on the beautiful Indonesian resort island of Bali? Well, for people with $130,000 to spare in their bank account, that could become a reality too.

Digital nomads are "people who choose to embrace a location-independent, technology-enabled lifestyle that allows them to travel and work remotely, anywhere in the world," according to one firm that links independent consultants with clients.

As of June 2022, more than 25 countries and territories had issued digital nomad visas to draw remote workers, whose number has increased since the pandemic started.

The Indonesian government, however, is taking a slightly different approach through a "second home visa" that permits wealthy foreigners, professionals, investors and retirees to stay in the country for up to 10 years.

Watch the video above to learn how this visa stacks up against the ones issued by other countries, and to learn about the difficulties policymakers face in making it a success.

#CNBC #DigitalNomad #Travel #RemoteWork #WorkFromHome
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[FinancialShinanigan]

And here I thought life got harder when you're rich, thank you for a major life lesson!

[___beyondhorizon]

The Australian lady is not venturing very far, Java is very near Australia. She's just looking for cheap nannies. .

[xyz-uwps]

As someone who's been following the new visa, I doubt there will be many takers. You can already get a visa to Indonesia as an investor without freezing 6 digits in an Indonesian bank account. Also, this visa has nothing to do with "digital nomads", so not sure why that's being pushed here other than for the hashtag.

[mbalimaka]

Every family has that one person who will break the family's financial struggle, I hope you become the one 😊

[spellonyou]

This Visa seems targeted to high earning entrepreneurs rather than 'Digital Nomad' because most Digital nomads are broke or live on a tight budget 🤣

[somluck]

I thought that the word 'nomad' described a person who 'followed the seasons', a wanderer.

Apparently, it now seems to mean a person who moves to another country for lifestyle reasons.

[johnnytran]

I like how they fail to mention how these digital nomads drive up prices for the locals.

[feels.like.coffee]

Digital Nomad visa is basically a long term tourist visa. They want people who could come and spend without taking jobs from the locals. So of course they are looking for rich individuals.

[driddy]

Allow me to make a small change to the title here for you... "LIFE is easier than ever - especially if you're rich!" 😂

[profeagayu]

Many countries offer digital nomad visas which are temporary, more often a year or two, and do not lead to residency and citizenship. Unless you plan to return to your home country to live, I recommend avoiding digital nomad visas and aim towards countries that offer residency and a path to citizenship.

[adamrogers]

Once you set roots in a place (like staying in Bali), you stop being a nomad and instead become a migrant. In my version of the digital nomad, I change countries at least once a month.

[potatomatop]

I'm still watching even if i'm not a Bruce Wayne.

[emmanuelharbor]

Wow. Love this programs. Can't wait to visit Thailand as a digital normad.

[andiaco]

Everything in Bali is very cheap..and friendly people...i miss bali....

[dylanshane]

The only thing they got wrong with this digital nomad segment is that ' it's all about rich people with 100K ' not true at all. you can get 6 months digital nomad visa with possible renewal if you just have 10grand ( USD or aus can't remember ) in the bank. Indonesia/Bali is really, really great for australians who want to be digital nomads ( i'm one of them ) but for other timezone countries, it can be tricky. bali is a great place.

[RobertTrew]

What this report fails to mention is with Indonesia new second home visa that 130kusd has to be deposited into an Indonesian bank account and can not be withdrawn for ten years...

Since the visa was introduced not one person has signed up for it.

[hansonel]

This isn't really about digital nomads who live around the world for a few months but wealthy entrepeneurs moving to Indonesia to start a business...

[RasielSuarez]

Or a simpler, cheaper way: you come in on an extended tourist visa then leave the country just before expiration and come back. Repeat as necessary.

[CryMoarZ]

What happened to the definition of a Digital Nomad, usually characterized by locating to 'various' location, tend to be volatile in their location decisions. From what I hear in this video, it is just about those leaving their country of birth (West, most dominant) and re-locating to Indonesia, while keeping a job that is possible online. 10-year visa is longer than the expat periods that my organization has (maximum terms of 5 years)

[StewartGauld]

Thanks for adding my little segment in there! 🎉 Bali is the place to be!