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Indonesia launches 5 to 10 years ‘golden visa’ program to lure wealthy foreigners
Indonesia launches a "golden visa" program to attract business investment and high-skilled professionals by offering longer-term residence permits in return for significant investments or deposits.
Indonesia has recently unveiled its ‘Golden Visa’ program, a strategic move aimed at attracting wealthy foreign investors and global talents. This initiative offers a long-term visa scheme, providing a residence permit for five to ten years, depending on the investment criteria met by the applicants.
Key Points
- Indonesia launches a “golden visa” program that allows investors and professionals with coveted skills to stay in the country for 5 or 10 years.
- The golden visa can be obtained through various investment options, such as a $2.5 million investment for a 5-year visa or a $5 million investment for a 10-year visa.
- The program aims to ease foreigners’ investments and contributions in Indonesia, as well as attract more quality travelers who will invest and be productive while staying.
- The program is expected to reduce the number of digital nomads and other long-stayers who do little for the local economy while using tourist visas to live in popular destinations like Bali. [3]
- Indonesia has set a goal of attracting $101.5 billion of domestic and foreign direct investment in 2024 to help it achieve its GDP growth target of 5.2%.
The key requirements to obtain a golden visa in Indonesia are:
Investment Amount
- Invest $2.5 million for a 5-year visa.
- Invest $5 million for a 10-year visa.
- Alternatively, make a $350,000 deposit in a state-owned bank for a 5-year visa or $700,000 for a 10-year visa.
Property Purchase
- Deposit $130,000 at a state-owned bank and purchase an apartment valued at $1 million or more for a 5-year visa.
Corporate Investment
- Companies can obtain visas for directors and commissioners by committing to invest $25 million for a 5-year stay or $50 million for a 10-year stay.
These requirements aim to attract quality investors and professionals to contribute positively to the Indonesian economy.
Indonesia’s ‘Golden Visa’ Program: A New Era for Investment and Residency
Indonesia has recently unveiled its ‘Golden Visa’ program, a strategic move aimed at attracting wealthy foreign investors and global talents. This initiative offers a long-term visa scheme, providing a residence permit for five to ten years, depending on the investment criteria met by the applicants.
The ‘Golden Visa’ program is part of Indonesia’s broader efforts to stimulate economic growth, create jobs, and transfer technology. It follows the ‘second home’ visa scheme launched at the end of 2022 and is designed to appeal to ‘good quality travelers’ who can contribute positively to the nation’s economy and security, as emphasized by President Joko Widodo.
Investors can look forward to several benefits, including extended residency, family inclusion, multiple entry allowance, and the potential for a return on investment. The program allows for the inclusion of family members in the application, ensuring that spouses and children can also experience life in Indonesia.
The introduction of the ‘Golden Visa’ is a significant development for Indonesia, signaling its openness to foreign investment and its commitment to becoming a more attractive destination for international business and talent. With its first ‘Golden Visa’ granted to a prominent figure in the tech industry, Indonesia is positioning itself as a hub for innovation and economic development.
The program is not without its prerequisites; companies are required to invest a minimum of $50 million, while individuals must invest at least $350,000 in government bonds. The visa is valid for 5-10 years and permits the holder to conduct business and other activities within Indonesia.
For more detailed information on the ‘Golden Visa’ program and its application process, interested parties can refer to the official resources provided by the Indonesian government.
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