Tourists can now move to Bali for up to 10 years — if they have at least $130,000 in the bank

• Indonesia is introducing a new visa aimed at attracting wealthy foreigners.
• The new "second home" visa allows foreigners to stay for five or 10 years.

Indonesia is introducing a new visa aimed at attracting wealthy foreigners and boosting the country's economy.

The country is focusing on its tourist capital, Bali, in an effort to lure in visitors for longer stays. The new "second home" visa is available for five or 10 years and will come into force from December 25 this year, per a press release.

Applicants must be able to bring at least two billion Indonesian rupiahs (around $130,000) with them, and the funds must be placed in Indonesian state-owned banks.

"The goal is to attract foreign tourists to come to Bali and diverse other destinations," said acting Director General of Immigration Widodo Ekatjahjana at the launch of the visa on Tuesday.

The visa hopes to bring in those who could "contribute positively to the Indonesian economy," the press statement continued.

The move follows countries like New Zealand and Portugal, which have recently introduced "digital nomad visas" to capitalize on remote workers who want to work overseas after the pandemic upended traditional work structures.

Over a dozen other countries have launched similar programs to attract young and travel-keen remote workers.

The digital nomad lifestyle is growing in popularity as pandemic-enforced working styles such as remote work become more common.

Last year, 15.5 million Americans identified as digital nomads, according to a report.