Undoubtedly, Bali is a beautiful island, and it has been in regular demand among digital nomads since the launch of its Bali digital nomad visa. Bali offers two types of digital nomad visas- the B211A visa, which is for a short stay of up to 180 days, and the Indonesia Remote Work Visa, which allows digital nomads to stay in Bali for up to five or ten years.
However, before you apply for the Bali digital nomad visa, it’s crucial to understand the financial aspects involved, including the annual income requirement, visa application fees, and the cost of living in Bali.
In this blog, you will find some useful financial aspects of staying in Bali so you can decide how long you want to stay in Bali.
So, read on!
Minimum Income Requirement
Like other European countries that have introduced a digital nomad visa, Bali also has a minimum income requirement. It depends on which visa type you are applying for.
For a B211A visa, you only need a minimum USD $2000 bank balance.
For an Indonesian Remote Worker Visa, you need an annual income of USD $60000.
The minimum income requirement might also change if the rules change for the visa.
This minimum income requirement ensures you can sustain yourself in Bali independently without relying on local employment. This is why you must submit proof of remote work or an employment letter stating that you can work remotely in your job profile.
Visa fee
The second consideration is the visa fee. You need to pay the visa fee when applying for the digital nomad visa for Bali.
For B211A, the visa fee depends on the duration of your stay.
For KITAS, the visa application is USD$150.
Cost of Living in Bali
As you will spend a considerable time in Bali as a digital nomad, you must know about the cost of living in Bali to avoid surprises and plan your expenses accordingly.
You should know that compared to its European contemporaries, such as Portugal or Croatia, Bali is relatively inexpensive. Its affordability is why digital nomads are rushing to it along with Malta.
Here is a breakdown of the living expenses in Bali:
Accommodation: The rental expenses in Bali are approximately $700-$1200, depending on the location and the property size you choose. You can rent a one-bedroom apartment in the city center for approx. $900, which is pretty affordable. You would be amazed to know that rent in Bali is almost 23% lower than in Lisbon, Portugal.
Conveyance: The public transport in Bali is minimal, so you must rent a scooter and explore Bali. It is affordable and a great choice, as renting a scooter in Bali only costs $60-$100 monthly.
Food: Among several reasons as to why Bali is great for digital nomads, food must come on the top, because if you love exotic cuisine, then Bali is the place. Its street food is lip-smacking and affordable. In an inexpensive restaurant, you can dine for $8-$10.
A Thorough Comparison
Many countries have introduced the digital nomad visa. Malta and Bali are among them, but when deciding to reside in a foreign country for a considerable period, it is wise to be thorough and do the research.
Check out the thorough comparison of finances in Bali with other countries to make an informed decision.
Portugal
Portugal is also among the top countries among digital nomads, but compared to Bali, it is rather expensive. The accommodation cost is higher, which makes the most significant part of the cost of living anywhere. However, the minimum income requirement in Portugal is lower.
Croatia
Without rent, the cost of living in Croatia comes to around $2000, which is quite expensive. Compared to Western Europe, this is low, but Bali is more affordable.
Mexico
If you are a food-lover, then you should know that the food cost in bali is almost 50% lower than in Mexico. A meal in Mexico City in a medium expensive restaurant comes to around USD $51, while in Bali, it only costs USD $24. Not just food, but you will find that Bali is much more inexpensive than other European countries.
Bali Digital Nomad Visa: Why You Need to Apply Now?
Do you know that in 2023, more than five million people visited Bali. The reasons are the beautiful landscapes, amazing forests, its one-of-a-kind culture, and exotic cuisine, and they have teamed up to ensure that you can’t resist visiting Bali.
However, when it comes to applying for a digital nomad visa, which involves a considerable period, you need to consider all the aspects of your stay, especially financial ones, as every digital nomad visa has a strict minimum income requirement, and so does Bali.
So, read the blog and consider your decision again, because you must get the value of your money.
