Understanding Retirement KITAS in Indonesia
Retirement marks a new chapter in life, often filled with aspirations of relaxation, adventure, and exploration. For those considering Indonesia as their retirement destination, the Retirement KITAS (Kartu Izin Tinggal Terbatas) emerges as a beacon of opportunity, offering a pathway to a serene and fulfilling life in the archipelago.
What is Retirement KITAS and how long will it let us stay?
The Retirement KITAS is a special visa designed for expatriates aged 60 years and above who wish to retire in Indonesia. This visa grants holders the right to reside in Indonesia for an initial period of one year to five years, subject to meeting certain requirements.
Key Benefits of Retirement KITAS in Indonesia
Retirement KITAS offers retirees a multitude of benefits, including
- Enjoying the tranquillity of Indonesia with a one-year residence permit, allowing ample time to explore the country’s diverse landscapes and cultural treasures.
- With Retirement KITAS, retirees can rest assured knowing that their stay in Indonesia is legal and compliant with immigration regulations.
- Ensuring retirees have access to quality medical services and facilities when needed.
- Immerse yourself in Indonesia’s rich heritage and traditions, from vibrant festivals to serene spiritual retreats.
- Indonesia offers a cost-effective living environment, allowing retirees to stretch their pensions and savings further while enjoying a comfortable lifestyle.
Important Points to Remember
- While a retirement visa or Retirement KITAS in Indonesia affords an extended stay in the country, it strictly prohibits any form of employment or income generation.
- It is crucial to be aware that Indonesia presently grants retirement visas to individuals from only 60 specific countries. To ascertain your eligibility for an Indonesia retirement visa, we recommend reaching out to our visa specialists for personalized guidance and assistance.
- The validity period of the visa is 90 days from issuance. If not used after this period, the Foreigner must apply for a new visa to enter Indonesia.
Pre-requisites to Retire in Indonesia
To qualify for Retirement KITAS, investors must fulfil certain requirements, including
To meet the eligibility criteria, applicants must present evidence of a deposit or a pension account with monthly funds amounting to USD 3,000 or equivalent, along with a comprehensive bank statement covering the preceding three months.
In conjunction with the pension fund, applicants are required to procure life and health insurance, secure accommodation for a minimum duration of 12 months, and enlist the services of a local helper or maid upon settling in Indonesia.
Application Process
Navigating the application process for Retirement KITAS can be complex, requiring attention to detail and adherence to Indonesian immigration regulations. At Come Visit Indonesia, our experienced consultants streamline the application process, ensuring a smooth and efficient experience for retirees.
Document Requirements to Apply for Retirement KITAS
General Requirements:
- A valid passport with at least 6 months of validity remaining;
- Proof of sponsorship;
- Proof of sufficient funds to support your stay in Indonesia;
- Recent coloured passport photo.
Specific Requirements:
- Proof of sponsorship in the form of a letter of commitment to deposit funds in a personal account at a state-owned bank in the amount of at least US$50,000 or equivalent (must be fulfilled within 90 days from the date of issuance of the Limited Stay Permit);
- Proof of income or allowance of US$3,000 per month.
Frequently Asked Questions about Investing in Indonesia as an Expatriate
Can I extend Retirement KITAS?
Initially, you can obtain a KITAS Pensiunan for 5 years. Upon renewal, it can be extended for periods of 5 years up to a maximum of 30 years.
Are there any tax implications for retirement KITAS holders?
Yes, KITAS holders are subject to Indonesian income tax on their foreign pensions or other income sources. However, specific rates and exemptions may apply depending on individual circumstances.
How much does a Retirement KITAS cost?
The cost depends on the type of visa and your nationality. Expect to pay application fees, visa fees, and health insurance premiums.
As the KITAS cost may vary depending on the purpose and area of stay, our professional consultants can help estimate the accurate cost for your Retirement application in Indonesia.
How long does it take to get a Retirement KITAS?
Processing times can vary depending on individual circumstances and current workload.
On average, expect 2-4 months for processing.
Can someone with Retirement KITAS buy a property in Indonesia?
Yes, someone with a Retirement KITAS (Kartu Izin Tinggal Terbatas) can buy property in Indonesia under certain conditions. Unfortunately, foreigners, including Retirement KITAS holders, cannot directly own land in Indonesia. The Right to Use (Hak Pakai) is the most common property ownership option for foreigners. It grants the right to build on and use the land for a specified period, typically 30 years, with the possibility of extension for another 20 years.
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