Retirement KITAS vs. Silver Hair Visa in Indonesia

Indonesia has historically offered the Retirement KITAS (Kartu Izin Tinggal Terbatas), a temporary stay permit for foreign nationals wishing to spend their retirement years in the country. However, with the recent introduction of the Silver Hair Visa, the Indonesian government is offering a more streamlined and appealing option for long-term stays. This article will explore the key differences between the Retirement KITAS and the Silver Hair Visa (a type of Golden Visa), and what each entails for prospective retirees. 

Retirement KITAS (Index E33F)

The Retirement KITAS is a well-established visa option in Indonesia, specifically designed for retirees over the age of 60. This visa allows foreigners to stay in Indonesia for one year, with the possibility of annual extensions. After a certain period, holders of the Retirement KITAS can apply for a Retirement KITAP (Kartu Izin Tinggal Tetap), which is a permanent stay permit allowing them to stay in Indonesia for five years without the need for annual renewals.   

Key Points of the Retirement KITAS:

• Duration: Valid for one year, renewable annually.
• Eligibility: Available to foreign nationals over 60 years old with proof of sufficient income or pension.
• Extension: Can be extended annually, and after five years, holders can apply for a Retirement KITAP for a five-year stay.

Document Requirements for Retirement KITAS:

• Passport valid for at least 6 (six) months (for holders of travel documents other than passports such as emergency passports, documents of identity, etc., must be valid for 12 months).
• Personal bank statement with a minimum amount of USD $2000 or equivalent for the last 3 months (including name, date range, and account balance).   
• Recent photograph.
• Curriculum Vitae.
• Guarantee from the guarantor. (This is typically provided by the facilitating agent).
• Proof of income or allowance with a value of US$3,000 per month.

Silver Hair Visa (Index E33E)

In response to the increasing demand for long-term stay options, Indonesia has introduced the Silver Hair Visa, a new visa product that simplifies the process for retirees looking to live in the country. Unlike the Retirement KITAS, which requires annual renewals for the initial five-year period, the Silver Hair Visa grants an immediate five-year stay from the outset, making it a more convenient and attractive option for retirees who prefer a hassle-free experience. This visa is also reported to be extendable after the initial five-year period.   

Key Points of the Silver Hair Visa:

• Duration: Valid for five years from the start and is extendable.   
• Residency Benefits: Provides long-term stability and peace of mind, as retirees can stay in Indonesia for five years without the immediate concern of annual renewals.
• Financial Requirement: Requires a one-time deposit of at least US$50,000 into an account in the applicant’s name at a state-owned Indonesian bank.  
• Income Requirement: Requires proof of income or benefits with a minimum value of US$3,000 (three thousand US Dollars) per month.  

Document Requirements for Silver Hair Visa:

• Valid Nationality Passport with at least 6 (six) months of validity.
• Latest color photograph.
• Curriculum Vitae.
• Travel Itinerary.
• Statement of commitment that the applicant will deposit funds worth at least US$50,000 (fifty thousand US dollars) in a state-owned bank account under their own name.  
• Proof of income or benefits with a minimum value of US$3,000 (three thousand US Dollars) per month.

Comparing Retirement KITAS and Silver Hair Visa

The introduction of the Silver Hair Visa signifies a notable evolution in Indonesia’s approach to attracting foreign retirees. While both the Retirement KITAS and Silver Hair Visa offer pathways to long-term residency in Indonesia, the Silver Hair Visa presents a more streamlined and convenient option, particularly for those planning to stay in the country for five years or longer.

Retirement KITAS:

• Ideal for those who are comfortable with annual renewals and prefer a more traditional approach.
• Does not require an upfront deposit in an Indonesian state-owned bank.

Silver Hair Visa:

• Best suited for retirees who wish to avoid the inconvenience of yearly renewals and secure a long-term stay from the beginning.
• Provides immediate peace of mind with a five-year stay permit.
• Requires a one-time deposit of the equivalent of USD 50,000 in an Indonesian state-owned bank under the applicant’s name.   

If you have any questions about the Retirement KITAS or the new Silver Hair Visa, please feel free to reach out for a consultation with visa experts. They can help you navigate the process and determine the most suitable option for your retirement in Indonesia.