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Want to Retire in Bali? Here's What you Need to Know

Want to retire in Bali? Here's what you need to know

Thinking about living your golden years in one of the most affordable retirement destinations in the world? We don't blame you.

In recent years, Bali has become a top choice for retirees seeking to stretch their retirement savings without sacrificing quality of life.

The affordable cost of living and natural beauty are major drawcards, but Bali's rich culture, safe reputation, amazing food and ample property investment opportunities are the icing on the Laklak cake.

Here's everything you need to know about retiring in Bali.

The reality of retiring in Bali: Pros and cons

We've helped match hundreds of retirees with their dream homes. And in that time, we've seen it all.

We reached out to past clients and asked them what retiring in Bali is really like. Here are a few advantages and disadvantages of retiring on "The Island of the Gods".

Pros

  • Relatively easy to obtain retirement visa
  • Affordable cost of living/low living expenses
  • Increasingly high quality healthcare facilities
  • Beach clubs and vibrant nightlife
  • Ever growing expat community with many retirees
  • Pristine beaches and stunning natural beauty
  • Plenty of amazing areas to live and retire
  • Rich culture, warm hospitality and welcoming locals
  • World class golf courses

Cons

  • It can be stressful navigating retirement realities overseas
  • Water quality is not as high as western countries
  • Public transportation can be difficult to access
  • You'll need enough income to cover living expenses
  • It can be surprisingly expensive to live in a beach and resort area
  • Volatile local economy

What you need to retire in Bali: The 5 basics

Making the call to retire in Bali can be an exciting and thrilling adventure. That said, it can also be stressful.

The first thing you need is a retirement visa. This is issued by the Indonesian government based on your age, finances and other stipulations. If you've never applied for an overseas visa before, the process might appear to be daunting, but fear not!

Below are the 5 main requirements to obtain a retirement visa in order to retire in Bali.

Health insurance

Health insurance is a must-have requirement when applying to retire in Bali. You'll need to prove that you have adequate coverage and will not be a financial burden to the Indonesian government should you require medical attention during your stay.

Sufficient income

All retirement visas require you to prove a pension of around $1,500-$3,000 US per month OR a lump sum. The exact amount varies and should be confirmed with your local Indonesian embassy or immigration contact.

Minimum age requirement

You cannot retire in Bali before the age of 55. This is a non-negotiable requirement and must be met in order to apply for a retirement visa.

Valid passport

Your passport must have at least 18 months left on it before expiration in order to retire in Bali. It's important to keep this in mind if you plan on staying long term.

Employ Indonesian citizens

To obtain a retirement visa and retire in Bali, you must agree to employ at least 2 Indonesian staff members. They could be a domestic helper, private chef or personal driver.

No working pledge

In what is probably the easiest requirement of all to abide by, if you want to retire in Bali then you must promise not to work while in your golden years. 

While this may sound restrictive, it's important to remember that the retirement visa is specifically for retirees and not intended for individuals seeking employment opportunities.

6 steps to retire in Bali

Step 1: Is Bali the ideal retirement destination for you?

Choosing to retire in Bali is a significant decision and it's essential to evaluate whether the island aligns with your retirement dreams and lifestyle requirements.

Consider factors such as cost of living, medical facilities, cultural fit, investment opportunities and what daily life would genuinely be like.

Step 2: Research and prepare your documents

After deciding to retire in Bali, gather all the necessary documents.

This includes proof of income, health insurance, a valid passport and employment agreements for Indonesian staff. Research the specific visa requirements and ensure you meet all the criteria.

Step 3: Apply for a retirement visa

Submit your retirement visa application to the Indonesian immigration authorities or through the Indonesian embassy in your home country.

Be sure to provide all required documentation and proof of compliance with the retirement visa conditions.

Step 4: Secure health insurance

Make sure you have comprehensive health insurance that meets Indonesian requirements.

This is crucial for ensuring you have access to quality healthcare while living in Bali and is a mandatory part of the visa application process.

Find and secure your new home

Begin your search for a suitable home in Bali, whether it's a villa, apartment or house.

Consider hiring a local real estate agent to assist you in navigating the property market and finding a place that suits your preferences and budget.

Step 6: Move and settle in

Once your visa is approved and you've secured your new home, make the move to Bali.

Take time to acclimate to your new surroundings, establish connections within the expat and local communities and enjoy your retirement in this beautiful destination.

Retiring in Bali: FAQ

Do I need a local driving license?

You don't need a local or international driving license to retire in Bali. Unlike most western countries, affordable private transportation is readily available.

Can I bring my pet?

Many retirees choose to bring their pets with them when they retire in Bali. However, there are specific guidelines and requirements that must be met to bring animals into Indonesia. Be sure to research and follow these carefully.

Do I need an official lease agreement if I rent?

Yes. If you want to retire in Bali and lease a property instead of buying, you'll need an official rental agreement. Factor this into your retirement savings plan and budget accordingly.

Is a local bank account necessary?

No, however we recommend opening a local bank account for convenience and to avoid international transaction fees.

Are the local foods and local markets safe to eat at?

On the whole, yes. Most people who retire in Bali quickly get acquainted with the local warungs or food stalls. They serve authentic Indonesian meals, often well priced and prepared to cater to tourists.

What is a domestic helper?

Domestic helpers are local staff members that you will employ as a condition of your retirement visa. They provide housekeeping, cooking and other domestic services to assist with daily living.

Is medical insurance mandatory?

Yes. 

Besides, if you want to enjoy Bali's bustling beach towns, world class surf breaks and all the other trappings of this famous tourist destination, you'll want to do so with the peace of mind that travel insurance offers.

What healthcare facilities are available in Bali?

Need to access quality healthcare services in Bali? You're in luck. Bali's healthcare facilities are getting better and better every year.

From international clinics and hospitals to local health centres, you have access to a range of medical services to cater for your healthcare needs.

Do I still need to pay taxes?

This depends on your own government's rules and regulations for expats. 

Consult with a tax advisor or accountant to determine your obligations. Tax residents of Indonesia must pay taxes on their worldwide income.

Final thoughts

A comfortable lifestyle, modern amenities, upscale shopping centers and a thriving expat and local community make Bali an attractive retirement destination.

However, it's important to consider all aspects of retiring in Bali before making the move. Be sure to research thoroughly, prepare your documentation and follow the necessary steps to obtain your retirement visa – all the best with your retirement plan!

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