In a move aimed at bolstering its national economy, Indonesia has unveiled a new “golden visa” scheme designed to lure both individual and corporate foreign investors. The announcement, disseminated by the Ministry of Law and Human Rights on a recent Sunday, has generated considerable interest.
Under this program, the golden visa grants recipients a residence permit for an extended period, ranging from five to ten years. Director General of Immigration, Silmy Karim, elaborated on the specifics in the official statement.
For the five-year visa, individual investors are required to establish a company with a minimum worth of $2.5 million, while those opting for the ten-year visa must make a more substantial investment of $5 million.
Notably, several other nations, including the United States, Ireland, New Zealand, and Spain, have implemented similar golden visa programs to attract capital and entrepreneurial residents.
On the corporate front, investors seeking five-year visas for their directors and commissioners must make a substantial investment of $25 million. To secure a decade-long visa, corporate investors need to double their investment, reaching $50 million.
However, distinct provisions are in place for individual foreign investors who prefer not to establish a company within the Southeast Asian nation. These investors are required to have funds ranging from $350,000 to $700,000, which can be utilized to purchase Indonesian government bonds.
An attractive feature of this program is that once golden visa holders arrive in Indonesia, they are no longer required to apply for additional permits, streamlining the process and encouraging investment.
