In recent years, Bali has established itself as a favorite destination for tourists and investors, attracted by its unique culture, nature, and lifestyle opportunities. Unlike many other places, however, Indonesia enforces strict land ownership rules – foreigners are not allowed to buy land with full ownership (HakMilik). This prohibition is a deliberate policy to protect local interests dsgpay.com. Instead, foreign capital finds creative and legal avenues to own a "piece of paradise" – through long-term leasehold, right of use, or investments through a local company. Thus, Bali becomes an example of how a country can simultaneously restrict direct land purchase by foreigners and at the same time welcome them as long-term guests and investors. The result is a balanced environment where tradition and the local population are protected, and foreign capital gains regulated "access" to the real estate market without breaking the law.
Strategic Vision and Tourism Development
The Indonesian government has long recognized Bali's potential as a global tourist magnet. In 2019, the island welcomed 6.23 million foreign tourists (out of a total of 16 million for all of Indonesia) aseanbriefing.com, and tourism revenue is a significant part of the local economy. After the pandemic, Bali made a powerful recovery – in 2023, over 5.3 million international tourists were recorded (140% growth compared to 2022), and up to 7 million are expected in 2024. spacecoastdaily.com. This revival has prompted the government to diversify and upgrade the island's infrastructure . At the national level, the "10 New Balis" program was launched – an initiative from 2016 to develop ten other Bali-like destinations, with the aim of distributing tourist load aseanbriefing.com. Bali itself, however, also attracts significant investment: in 2024, realized investments in the province reached 36.5 trillion rupiah (≈2.2 billion €), and for 2025, the target is45.6 trillion rupiah and over 53,000 new jobs baliexpat.com.
Infrastructure Projects: The state and local authorities are initiating numerous projects for sustainable growth. At the investment forum BaliJagadhita 2025 , 14 strategic projects were proposed with a total value of 1.84 trillion rupiah – from developing an electric vehicle ecosystem in Denpasar and solar power plants to expanding airport infrastructure in North Bali (Buleleng) baliexpat.com. The goal is to diversify the economy beyond tourism, as currently 94% of investments are concentrated in the service sector (real estate, tourism) and primarily in the southern part of the island baliexpat.com. The government is stimulating projects in agriculture, fisheries, and green business through incentives – according to Government Regulation No. 24/2019, investors receive simplified licensing regimes and tax incentivesif their projects increase the income of the local community, protect the environment, implement technologies, and create jobs baliexpat.com. Bali's economic growth forecasts are optimistic – 5.0–5.8% GDP growth is expected in 2025, supported by controlled inflation, improved competitiveness, and strong business optimism. baliexpat.com.
Quality Tourism and Cultural Focus: The newly re-elected governor Wayan Koster follows a vision of "culture, quality, and dignity-based tourism" baliexpat.com. In 2025, strict rules were introduced for foreigners: respect for temples and traditions, decent attire in public places, payment of a mandatory tourist tax, and adherence to laws (e.g., driving with a local license and registered vehicles) baliexpat.com. Indecent behavior, pollution (e.g., plastic waste), and desecration of sacred sites are prohibited, with violators subject to sanctions and even bans from accessing tourist sites baliexpat.com. These measures may sound restrictive, but their aim is to improve the quality of tourism and to protect Bali's image as "an orderly, high-quality, and dignified destination" according to the standards of the local population baliexpat.com. In parallel, the authorities are tactfully channeling the growing foreign interest in real estate: in the first half of 2023, requests from foreigners to buy houses in the Kuta, Seminyak, Canggu, and Uluwatu areas (Badung Regency) increased by 92% compared to the previous year spacecoastdaily.com. Denpasar notes an 81% increase in interest, with Bali topping the charts for foreign property demand in Indonesia spacecoastdaily.com. This "property boom" is accompanied by the rise of new legal frameworks – the government has introduced long-term visas (Golden Visa, Second Home), allowing wealthy foreigners to reside legally and invest precisely here spacecoastdaily.com.
Urban Development and Sustainability
Bali follows the principle that development should not come at the expense of nature and culture. The island has unique building legislation aimed at preserving the aesthetics of the landscape. With Regional Regulation No. 16/2009 , it is forbidden for any building to exceed the height of a coconut palm (approximately 15 meters) newsbytesapp.com. This rule, known as the "coconut tree law," has been in effect for nearly two decades and stems from Bali's ancient Hindu principles – Tri Hita Karana, which mandate harmony between humans, nature, and the spiritual world newsbytesapp.com. Exceptions are allowed only for specific public structures (towers, lighthouses, temple spires, safety infrastructure), but generally new buildings must blend into the landscape, not dominate it newsbytesapp.com. Thanks to this legislation, Bali has no skyscrapers – even luxury hotels spread horizontally, woven between palm groves and rice terraces.
Bali's urban vision relies on sustainable development led by local communities. The concept of TriHitaKarana is integrated not only in architecture but also in investment initiatives – all new projects are evaluated based on their contribution to the environment, society, and spiritual heritage baliexpat.com. For example, among the proposed projects for 2025 are botanical gardens, eco-tourism in Kintamani, a green industrial zone in Jembrana and modern rest areas along the roads, which, in addition to tourist amenities, will promote local artisans and farmers baliexpat.com. At the same time, local residents are increasingly involved in planning – in 2024, for example, the community in Sesih village (near Canggu) through a petition halted the construction of a mega-complex on the beach, fearing negative impacts on the environment and the traditional appearance of the area newsbytesapp.com. Investors listened and froze the project, which shows that public opinion in Bali carries real weight in shaping the island's future.
All these measures ensure that property in Bali is not just square footage, but part of the island's living fabric. A new home or villa here comes with the unspoken responsibility to respect and maintain the surrounding environment and culture. In return, the island promises to remain attractive for decades to come, with preserved beaches, clean air, and local authenticity – something that mass tourism in many other places has already destroyed. In other words, Bali sells a lifestyle, not just property, but this lifestyle is carefully planned to be sustainable even after 50 years.
Tax and investment environment
The Indonesian government has intentionally created a framework that both restricts direct land acquisition by foreigners and allows them to securely invest in property through alternative rights. The Constitution and the Agrarian Law (UU 5/1960) stipulate that only Indonesian citizens can hold indefinite ownership rights to land (SertifikatHakMilik – SHM) azurebali.com. Instead, foreigners are granted the following legal options baliexception.com:
- Right of Use (HakPakai) – grants a foreigner the right to use land or a dwelling for a specified period, usually 30 years with the possibility of extension. It is used for residential purposes and implies the existence of a residence permit (e.g. KITAS). It practically allows you to "own" a house or apartment without owning the land dsgpay.com. By law, a foreigner can only have one property for personal occupancy under HakPakai, which should not be rented out or sold for profit dsgpay.com. The minimum property value for Bali is regulated – between 2 and 5 billion Rupiah (approximately $130,000 – $325,000) depending on the type and location dsgpay.com, to target foreigners towards the mid and luxury segments of the market. This ensures that foreign buyers invest significant capital and contribute to the local economy.
- Right of Long-Term Lease (HakSewa or leasehold) – represents a lease agreement for land or property for 25–30 years with an option to extend. This is the simplest path: the foreigner enters into a notarized agreement with the owner (an Indonesian) and prepays the rent for the entire term. In return, they receive full rights to use the property, build on it, or rent it out to third parties for the period. A lease agreement exceeding 3 years can be registered in the Land Registry as a real right, providing additional security. Leasehold properties are popular – many foreign investors prefer this model as a quick and flexible way to acquire a holiday home; in most cases, contracts include a clause for extension by another 20+ years by agreement between the parties azurebali.com. In practice, a 30-year lease in Bali is often traded on the secondary market similarly to ownership, with its price increasing over the years. An important advantage is that there is no requirement for the buyer to have local status – leasehold can be acquired by a foreigner residing abroad, as they are formally leasing, not buying, the land.
- Right to Build through a Company (HakGunaBangunan – HGB) – this is an option for larger investors or those who want full operational ownership of a property. The foreigner establishes an Indonesian legal entity – PT PMA (Penanaman Modal Asing, foreign investment company), which by law can acquire land with building rights for 30 years, with an extension of another 20 + 30 years (totaling up to 80 years) baliexception.com. The company can be 100% owned by them and can purchase both houses and plots of land to build on baliexception.com. In practice, PT PMA it provides almost the same security as freehold ownership – HGB certificate is held in the name of the company controlled by the foreigner. There is a requirement for a minimum investment plan of IDR 10 billion (approximately $700,000) and paid-in capital of at least 25% of this amount baliexception.com, as well as registration with the Investment Coordinating Agency (BKPM). In return, the investor receives flexibility – the property PT PMA can be used for both personal use and business (e.g., holiday villas for rent, hotels, offices), without the restrictions that apply to personal Hak Pakai baliexception.com. PT PMA essentially is the ticket to "full" ownership for foreigners ready to develop a business and invest more substantial capital.
Alongside these main options, there are also informal approaches, such as purchasing through a local trustee (so-called nominee structure) or marriage to an Indonesian citizen – but these carry legal risks and are not recommended, as the law does not recognize a foreigner as an owner even with a hidden trust agreement worldestate.homes. Instead, the Indonesian state encourages foreigners to use the official mechanisms, which are sufficiently flexible and legally protected.
Taxation: Property transactions in Bali are taxed with moderate, fixed taxes, which are significantly lower than typical "profit taxes" in many Western countries. Upon purchase and sale, the buyer pays a 5% transfer tax (BPHTB) on the value, and the seller pays a 2.5% income tax (which replaces capital gains tax) dsgpay.com. These rates are final and simplify the transaction – there is no additional tax on price differences or annual revaluation as in some countries. Additionally, notary fees (around 1–2% for deed preparation) and small legal expenses are charged dsgpay.com, which are usually borne by the buyer, as well as a 3–5% agent commission (paid by the seller) dsgpay.com. The annual land and building tax (PBB) is symbolic – around 0.1–0.5% of the property's tax assessment dsgpay.com. It is important to note that Indonesia has no inheritance tax – upon the owner's death, the property is inherited by their successors (provided they meet the conditions, e.g., are citizens or sell/transfer the right within the legal timeframe). There is also no annual "wealth tax" on real estate, which makes long-term property ownership low-cost.
Regulations and Incentives: Indonesia has been undertaking reforms in recent years to facilitate foreign investment. With the adoption of the Omnibus Law on Job Creation (2020) and the subsequent Government Regulation No. 18/2021, procedures for property acquisition by foreigners have been simplified: the requirements for long stays before purchase have been removed (a valid KITAS or visa is now sufficient), foreigners are allowed to own apartments in condominium buildings (stratal title) on leasehold land investmentpolicy.unctad.org, and minimum price thresholds have been updated to reflect market realities. As a result, the market has become more transparent and accessible: an increasing number of new complexes in Bali directly offer residences with HakPakai for foreigners or leasehold contracts, without the need for circumventing schemes dsgpay.com. The government has even finalized the concept of a "golden visa" – a 5- or 10-year residency permit in exchange for a substantial investment – which further encourages wealthy individuals to invest capital in the country (see below). At the same time, Indonesia maintains currency and capital freedom – foreign investors can freely repatriate their profits after paying applicable taxes; there are no currency controls that hinder transfers out of the country. Thus, the country positions itself as an "investor-friendly" jurisdiction, albeit on its own terms – the land remains Indonesian, but the right to use it or build on it is generously and securely granted to those who abide by the rules.
Safety and Order
Bali has long been renowned as a peaceful and welcoming place – one of the safest tourist regions in Asia finnsbeachclub.com. Serious crimes on the island are extremely rare – according to international statistics, the level of violent crime (e.g., homicide) is among the lowest in the world (around 0.4 per 100,000 people) finnsbeachclub.com. Incidents of attacks on tourists are isolated and shocking to the local community, which prides itself on Bali's reputation as the "Island of the Gods and Peace." Of course, like any popular destination, there is petty crime – pickpocketing in crowded markets or theft of unattended belongings occur, especially in busy areas exotiqproperty.com. However, these risks can be minimized with common sense, and local authorities are making efforts to maintain order. Specialized tourist policeoperate on the island, patrolling resort areas and assisting foreigners when needed. Balinese people themselves, following their Hindu culture of karma and hospitality, have deep respect for visitors – most guests feel safe and welcome right from the airport exotiqproperty.com. Millions of tourists visit Bali annually without incident, making safety an integral part of the island's economic success.
The authorities maintain strict public order, commensurate with the region's economic ambitions. Traffic police, despite the chaotic traffic, enforce the rules – foreigners are required to have a valid international or local scooter driving license, helmets are mandatory, and recently, checks for illegal transportation (Uber, Grab) and unlicensed translators/guides) have been intensified. All of this is part of the effort to improve the quality of services and safety for visitors. Surveillance cameras have been installed in tourist areas, and in cases of more serious violations (e.g., drugs, which are a serious offense under Indonesian law), swift action is taken. The result is that foreign investors and residents enjoy a peaceful life, rarely overshadowed by criminal concerns – something key when choosing a second home destination. As the locals say, "if you treat Bali with respect, Bali will treat you with the same" – this unwritten maxim maintains public peace and gives confidence to everyone who has invested money and emotions in this paradise place that their personal security and investment are protected.
Protection of Property Investors
Real estate is often a significant investment, especially in a foreign country – that's why Indonesia has introduced strict procedures, ensuring transparency and protection for both the buyer and the seller. All property transactions must be carried out before a licensed notary, acting as a Land Registry Officer (PPAT) dsgpay.com. This notary is not just a witness – he verifies ownership rights, certifies the contract, and is responsible for its registration in the State Land Registry (BPN). In practice, no sale or long-term lease is valid without a notarially prepared deed (AktaJualBeli for sale, AktaSewa for rent), signed by the parties and certified by the PPAT dsgpay.com. This creates an escrow effect: the notary acts as an independent guarantor that the transfer of ownership and payment occur simultaneously and correctly. It is common practice for the buyer to deposit a down payment (e.g., 10–20% of the price) into a trust account with the notary or agency upon signing a preliminary agreement worldestate.homes, after which the notary performs a thorough property check – validity of the certificate, presence of encumbrances or mortgages, paid taxes, compliance of the property with the urban development plan and its intended use worldestate.homes. If problems are found, the transaction is stopped and the deposit is returned, which protects the buyer from fraud or hidden defects. Only after successful due diligence is the final main contract (usually bilingual, in Indonesian and the buyer's language) prepared worldestate.homes. The transfer of rights takes place in the presence of the notary – the buyer transfers the remaining amount, the documents are signed, and the notary registers the new owner/user in the BPN dsgpay.com. Notary Fees and Legal Structure
Важен детайл, който често остава неразбран: нотариалните такси в Индонезия винаги са за сметка на купувача, независимо дали имотът се придобива от вторичен пазар или директно от инвеститор при ново строителство. Обичайно тези такси възлизат на около 1% (понякога до 2% при по-сложни казуси) и обхващат пълния правен пакет: изготвяне на всички актове, проверка на собствеността и тежестите, вписване в поземления регистър и издаване на окончателния титул. Нотариусът в Индонезия (PPAT) изпълнява роля, близка до адвокат и регистратор едновременно, което намалява нуждата от отделен адвокат, макар че някои чуждестранни инвеститори предпочитат да наемат и допълнителен правен съветник за по-голяма сигурност.
При сделки с ново строителство (off-plan) комисионната към агенцията обикновено се поема от продавача (инвеститора) и е вече включена в цената на имота, докато нотариалните разходи остават изцяло за купувача. Практиката в Бали предвижда купувачът да заплати и депозита по доверителна сметка — обичайно 10–20% — който се задържа до финализиране на правната проверка и подписване на окончателния акт. Тази строго регламентирана процедура, съчетана с ясната роля на нотариуса, създава стабилна и прозрачна среда, която инвеститорите ценят високо. Новият титул (сертификат за HakPakai, or an updated record of HakMilik/HGB with a registered leasehold right) is officially issued by the Land Office in the buyer's name, making their right undisputed and protected by law.
This process, although strict, is designed in the interest of investors. The risk of fraudulent transactions is minimized – there are no "hidden mortgages" or double sales that surface after purchase, because the notary has checked everything in advance. For off-plan construction, there are also established protection practices: payments are staggered according to construction progress, often with an escrow deposit, and the buyer receives a notarially certified right to the future property. Large developers voluntarily apply these mechanisms, as market confidence is key – it is no coincidence that new villa complexes in Bali are often sold out even before the first excavation. Example: in 2023, after the borders opened, several elite projects in Canggu and Uluwatu sold out all foreign quotas within days, as investors know their money is protected and the projects will be completed according to the contract (a similar situation, described in Thailand, is now also observed here) worldestate.homes. Furthermore, the law mandates the payment of all due state fees (approx. 7.5% of the total value) before registration – this guarantees the official registration of the property in the name of the new owner/tenant, without which the transaction has no legal weight dsgpay.com. Ultimately, acquiring property in Bali today is not only attractive but also a secure undertaking – based on clear regulations, professional services, and a market that values reputation.
Long-term visa opportunities for foreign investors
It is one thing to buy property, another to be able to stay and enjoy it long-term. Indonesia traditionally issued short-term visas for tourists, but in recent years has taken steps to attract wealthy foreigners, digital nomads, and retirees through special long-term visa programs – an analogue to Thailand's LTR and "Elite" visas. In September 2023 the authorities announced the so-called "Golden Visa" – a 5- or 10-year residence permit in exchange for an investment in Indonesia imigrasi.go.id. The conditions are deliberately high: an individual investor can obtain a 5-year visa if they invest a minimum of $350,000 in Indonesian government bonds, shares of local companies, or a bank deposit imigrasi.go.id. For a 10-year visa, the threshold jumps to $700 000 imigrasi.go.id. Alternatively, establishing a company with a direct investment of $2.5 million secures a 5-year visa, and $5 million – a 10-year visa goldenvisas.com. For top corporate investors, the requirements are even higher (directors of a company with a $25 million investment also receive a 5-year status) imigrasi.go.id. The Golden Visa is not a mass program, but is aimed at "high-class investors", who will contribute significantly to the economy – hence the substantial privileges: long stays without the need for frequent extensions, the right to freely enter and exit without queuing for temporary permits each time you return to the country imigrasi.go.id. Golden visa holders are also expected to receive facilitation in business activities (e.g., work permits or expedited licenses), although details are being finalized towards 2024. The government has openly stated that it aims through this program to attract quality investments, as made by the UAE, Singapore, and other countries with their "golden visas" imigrasi.go.id.
A second key initiative is the so-called "Second Home Visa", introduced at the end of 2022. It grants 5 or 10 years of residence to wealthy foreigners, retirees, or professionals, who wish to settle in Indonesia without working under a local employment contract fragomen.com. The main requirement is financial – the applicant must prove the existence of at least 2 billion rupiah (around $130,000) in the form of savings deposited in an Indonesian state bank goldenvisas.com. Initially, this amount was required as a blocked deposit for the entire visa period, which drew criticism, but in 2023 the conditions were eased – proof of property ownership of similar value or investments in Indonesian securities are also accepted flado.id. The Second Home visa does not grant the right to work (unlike some Thai programs), but allows the holder to freely live in Bali and all of Indonesia for 5 or 10 years, to open a local bank account, manage their businesses, and most importantly – to buy real estate with title Hak Pakai fragomen.com. In fact, this visa combines the features of an investor, retirement, and residence visa in one fragomen.com. It has no age restrictions (unlike the traditional retirement visa (KITAS Retirement), which is only for individuals over 55) fragomen.com. In this way, Second Home Visa has become a kind of "digital nomad visa", although it officially does not allow work, because thousands of wealthy remote workers and online business owners use it to reside long-term in Bali with their external income. Combined with the lack of tax on foreign income for individuals who do not acquire local tax resident status, Indonesia offers these residents financial freedom – they can spend their money locally without being additionally taxed, as long as their income comes from abroad.
In addition to the above innovations, traditional visa regimescontinue to exist, which foreigners flexibly benefit from. For example, the investor visa (Investor KITAS) allows a person who establishes PT PMA and invests at least 1.25 billion rupees (~€75,000) in capital to obtain a 1- or 2-year residence permit with the right to manage their business. The pensioner visa (Retirement KITAS) ) grants an annually renewable stay to individuals over 55 years old, who have proven an income of over $2000 per month and have rented local accommodation – it is more accessible but shorter-term and also prohibits work. For much younger expats, the option of business and social visas remains – 6-month multiple-entry visas, with which many "try out" life in Bali before committing to a more serious status. The picture is also complemented by the fact that over 80 countries, including Bulgaria, are eligible for a "visa-free entry for 30 days" regime or a visa on arrival (VoA) ) – this facilitates property owners to stay short-term multiple times if they do not wish or do not meet the conditions for a long-term visa. The general message is clear: Indonesia, and specifically Bali, want foreign presence that contributes positively – either through capital or through cultural exchange. Therefore, these guests are offered a legal, long-term "home away from home", as long as they are willing to invest in the island's mutually beneficial future.
High Returns and Low Risks
Bali's property market, supported by booming tourism, demonstrates returns that significantly exceed European and even many Asian markets. Investments in holiday villas and apartments for rent yield impressive returns: the average gross rental income on the island is around 8–10% годишно, and for the most sought-after properties in Seminyak, Canggu, or Uluwatu , it can reach 15% azurebali.com. This is due to the constant flow of tourists – in peak season, luxury villas are rented for hundreds of dollars per night, and occupancy is high almost year-round thanks to the climate and various events (surf competitions, festivals, retreats). Many foreign owners cover their expenses and make a profit from just a few months of rental, while using the property for themselves during the rest of the time – a model that has become extremely popular and which encourages further purchases. It is indicative that after the pandemic, demand from foreigners not only recovered but exploded: in 2023, the interest of international buyers in properties in Bali increased by 85% compared to the previous year, which equates to ~764 million USD in fresh investments, mainly directed towards new construction spacecoastdaily.com. This capitalism has led to a construction boom – boutique complexes and villas, tailored to foreign tastes, are popping up all over the southern part of the island.
Even more impressive is the capital growth of properties. Unlike many developed markets where prices grow slowly, prime locations in Bali have seen double-digit growth annually. According to local agencies, property prices have increased by an average of ~7% annually over the last 5 years, with growth being faster in some areas investlandbali.com. Example: a three-bedroom modern villa on a 500 sqm plot, 1 km from the beach in Canggu, cost around 8.5 billion rupees in 2019.In 2023, its price reached 12.5 billion rupees, – an increase of ~47% in 4 years. exotiqproperty.comThe main driver is the appreciation of land: in the same period, the value of vacant land in the area jumped from ~1 billion to 1.5 billion rupees per are (100 sqm), meaning a 50% growth. exotiqproperty.comThis means that early investors who bought plots before the pandemic are now seeing huge unrealized profits. The island is catching up in terms of price with other top resorts – although properties are still cheaper than in Hawaii, the Maldives, or French Polynesia, the gap is narrowing every year with double-digit growth. independentaustralia.netIn 2024, Bali even reported its biggest annual price jump to date – 10-20% depending on the segment,thanks to a record number of tourists and limited real estate supply. independentaustralia.net.
All this is happening with relatively low risks.The market is well-regulated, there is no "bubble" type overdevelopment (due to the aforementioned controlled zones and height restrictions), and demand structurally exceeds supply – the island has natural boundaries and cannot infinitely increase its capacity, while those wishing to live and vacation here continue to grow. The legal system already offers foreigners clear ownership status (albeit limited) – each certificate HakPakai or HGB bears the name of the foreign investor or their company, which is recognized by the court and institutions. In case of disputes or the need for enforcement (e.g., evicting a dishonest tenant), the foreigner has the same legal protection as a local owner. Last but not least, Indonesia's financial system is stable and does not foresee abrupt movesthat would shock the property market – on the contrary, the central bank carefully monitors property loans and prevents overheating. Until 2023, Indonesia did not even participate in the global automatic exchange of banking information (CRS), dsgpay.comwhich unofficially made the country a quiet haven for private capital.Although regulations have recently been brought in line with international standards, Indonesia continues to discreetly value financial privacy – another reason wealthy investors feel comfortable here.
Conclusion: The same can be said for Bali as for Indonesia itself – "unity in diversity,"but applied to the investment climate. The island manages to combine seemingly contradictory elements:strict restrictions (land is not sold) with open doors (invest, live here for 10 years); booming tourism with preserved culture; high profits with low risks. This is not a matter of chance – but of a conscious national philosophythat wealth and development must go hand in hand with respect for local values. If we assume that our personal freedom and well-being include the right to live the way we choose, then Bali is one of the few places where this freedom is not just tolerated, but encouraged – as long as we value the land and the people who make it so special.
Useful resources:
- Indonesian Ministry of Agrarian Affairs and Spatial Planning (ATR/BPN) – Official Website: atrbpn.go.id
- Regulation on Foreign Property Ownership (Government Regulation No. 18/2021) – UNCTAD Investment Policy Monitor investmentpolicy.unctad.org
- Directorate General of Immigration of Indonesia – Golden Visa (5/10 year investor visa, 2023) imigrasi.go.idimigrasi.go.id
- Directorate General of Immigration of Indonesia – Second Home Visa (5/10 year affluent person visa, 2022) fragomen.com
- Bali Jagadhita Investment Forum 2025 – Bali Investment Projects Catalog (Bank Indonesia & Provincial Government) baliexpat.com