Our valued sponsor
New Visa to Let Tourists With $130,000 Live in Bali for 10 Years
- Thread starter troubled soul
- Start date
Seems to be a straight forward option.
However, Indonesia taxes on worldwide income without exception. And taxes are quite high.
So, I do not see why a person would want to deposit 130k to get that visa and live there. Other SE-Asian nations offer much better deals, specifically from a tax perspective.
Sorry the strong thinking: but to have money and live in a backpacker island in SEA, and pay for this “right”, I cannot even thinking, because the sun already made me faint.
So if we stay there for 3 months on tourist visa will our offshore business producing consulting and trading income get taxed??What is the amount of time i have to spend there before being considered as a tax resident??
"$130,000 Live in Bali for 10 Years" is same as a "Thai elite Visa"......If you move - in and out without visa run for 10 years...
If you live more than 6 month in that particular country...than and than You are liable to Tax..
If you live more than 6 month in that particular country...than and than You are liable to Tax..
Then only 5 months a year i can spend my time there ,thats nice.I wanted to explore Indonesia next year.
No, it is not the same! With Thai Elite you buy a simple tourist visa for an absurd amount of money.
The Indonesia offering is sort of a deposit: Keep the money in a local bank. A significant difference to the greedy Thai option.
No, this is not correct!
If you intend to reside in Indonesia you will be taxed on your worldwide income, no matter if you stay one day or 365 days in any rolling 12-months-period.
Once your application for the new residence visa is approved you will be considered to have the intention to reside in Indonesia and automatically become an ordinary tax resident of Indonesia.
Note the wording: RESIDE!
"This is a non-fiscal incentive for certain foreigners to make a positive contribution to the Indonesian economy"
Thank but no thank you.
Thank but no thank you.
This link should be added since it explains the details ->
https://www.imigrasi.go.id/en/2022/...rasi-resmi-luncurkan-aturan-second-home-visa/
There are much better options in SE-Asia, as I already mentioned in post #2.
They already called the incentive "second home" in a clear attempt to emulate what Malaysia has done but without fiscal incentives nobody sane in his mind will shell out 130K for the privilge to stay in Bali.
Note that the requirement is not to hold 130k USD in their bank, but "2 billion rupiah" (which with current rate is 130k USD). And something tells me that probably their currency devalues quicker than USD... Not to mention liquidity risk of banks etc. Also case of Cyprus comes to mind. This offer rather sucks IMO.
Do not misguide people......in any country expat liable to tax only and only when they spend more than six months in the country...... intention to reside does not liable to tax unless you spend more than six month
This is completely wrong.
First of all the word "expat" does not exist in legal terms. An individual can be a citizen, resident, non-resident, non-domiciled, immigrant .... .
Second, ever studied the term "habitual abode" or Portugal tax legislation or Philippine tax legislation or Egyptian tax legislation?
Before claiming that more than 200 countries on Planet Earth obey to your made-up generalization of "six months"
please do all of us favor and go over the books again.Furthermore, learn about the matter: This is about residency and the person intending to reside in Indonesia. That makes him automatically a tax resident in Indonesia. Study the applicable legislation!
Third, never say he/she is "misguiding people". Choose your words more wisely!
Indonesia - Individual - ResidenceThis is completely wrong.
First of all the word "expat" does not exist in legal terms. An individual can be a citizen, resident, non-resident, non-domiciled, immigrant .... .
Second, ever studied the term "habitual abode" or Portugal tax legislation or Philippine tax legislation or Egyptian tax legislation?
Before claiming that more than 200 countries on Planet Earth obey to your made-up generalization of "six months"
Furthermore, learn about the matter: This is about residency and the person intending to reside in Indonesia. That makes him automatically a tax resident in Indonesia. Study the applicable legislation!
Third, never say he/she is "misguiding people". Choose your words more wisely!
My English is not good..
But ...kindly check this
What you linked is good and absolutely sufficiemt for this matter. Elaborate the last bullet point. Understand that the three bullet points are not cumulative. They are separate conditions on their own.
Update : You can not work in the Bali using this visa you can not be a life coach in Indonesia, a manager of a business, and neither can you create any income in bali through activities in bali and therefore be paid to a bank account in Indonesia. It is not a work permit. You can be a remote worker, freelancer for entities abroad, be on staycation or simply stay here as a tourist.
As that your global income will not be taxed. That would defy the purpose of this visa
Moral of the story : It is tax free digital nomad visa for 10 year
As that your global income will not be taxed. That would defy the purpose of this visa
Moral of the story : It is tax free digital nomad visa for 10 year
Why "Update"?
It has been made clear from the very first day that this is not a work permit. So, pretty obvious that this visa does not include the permission to work.
It seems you do not understand the discussion: This is not a poor backpackers' visa. Indonesia wants to attract people with money. These people have passive income and -as explained in post #7, #14 and #16- will currently be taxed on their worldwide income if they intend to reside in Indonesia.
A visa has nothing to do with taxation and does not change the rules of taxation. As long as the tax code hasn't been amended accordingly, taxation of worldwide income is applicable.
Do not post your own conclusion as a fact. Show me an official document where your conclusion is stated.
You post a personal opinion as a fact - that's a dangerous game.
Nowhere in the official press release does it say anything about "remote work/freelance". To claim that this visa is a "digital nomad visa" is outright wrong and simply a made-up story by various (dubious) news-outlets.
It is a Second Home Visa, much like MM2H. It is intended to attract wealthy foreigners to Indonesia who would like to spend an extensive period of time there.
Official press release -> Siaran Pers : Ditjen Imigrasi Resmi Luncurkan Aturan Second Home Visa - Direktorat Jenderal Imigrasi
Unfortunately, this visa is not well thought since nobody ever considered the tax implications as outlined above. If and when these impkications will be considered remains to be seen. For the time being you will be taxed on worldwide income (even if passive) if you intend to reside in Indonesia.
Similar threads
Latest Threads
-
How to setup a Stop loss order in Kraken ?- Started by brianK
- Replies: 0
-
-
Payment solutions for Anjouan broker and/or gaming license
- Started by GalaJS
- Replies: 1
-
-
