Indonesia is launching a golden visa program aimed at luring both individual and corporate foreign investors in a concerted effort to bolster its national economy, as stated by the Ministry of Law and Human Rights in a release distributed on Sunday.
The golden visa program entails granting extended residence permits for a duration ranging from five to ten years, as elucidated by Silmy Karim, the Director-General of Immigration, in the official statement.
Individual investors looking to secure a five-year visa must establish a company with a minimum value of $2.5 million. For those aspiring to obtain a ten-year visa, a higher investment of $5 million is mandated.
This move aligns Indonesia with a global trend, as several other countries, including the United States, Ireland, New Zealand, and Spain, have already implemented similar golden visa programs to attract capital and entrepreneurial residents.
Furthermore, corporate investors seeking the five-year visa option for directors and commissioners are required to invest a substantial $25 million. To qualify for the decade-long visa, they must double their investment to a total of $50 million.
Distinct regulations are in place for individual foreign investors who do not intend to establish a company within the Southeast Asian nation. The prerequisites span from having funds ranging between $350,000 to $700,000, which can be utilized for acquiring Indonesian government bonds.
Silmy Karim stated, "Once they arrive in Indonesia, golden visa holders are exempt from the need to apply for permits."
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