Surely there are plenty of reasons that make you want to bring your entire life savings to our paradise island; whether it's the culture, the people, the weather, or anything in between. The pros of retiring in Bali really outweigh the cons, mainly because foreign currencies are worth a lot on the island and there are so many things to do there. Making the final decision shouldn’t be rushed based on that fact alone, however, because you must take your personal needs and preferences into account in the first place. Once you’ve determined that Bali does have what you need, then it’s time to "do it".
This means applying for a retirement visa. Requirements are quite simple; need to be at least 55 years old, have health and life insurance, submit the necessary paperwork. This visa is valid for a year and can be extended up to 5 years, which after makes you eligible to apply for a permit for permanent stay. In terms of finance, you need to prove that you have a minimum of USD1,500 per month as your pension fund to cover your living expenses.
Retiring in Bali will certainly be worthwhile no matter what expectations you might have. Therefore, it is best to prepare your savings and look for the right home from now on.
