Golden Visa program to offers long-term residence to foreign investors in Indonesia

• Indonesia is launching a golden visa program to attract foreign investors.
• The program offers long-term residence to foreign investors.
• Golden visa holders will be granted a residence permit for five to ten years.

In an effort to strengthen its national economy, Indonesia is implementing a golden visa program to entice individual and corporate investors from abroad, according to a statement released on Sunday by the Ministry of Law and Human Rights.

“The golden visa is granting a residence permit for an extended period of five to 10 years,” director general of immigration, Silmy Karim said in the statement.

Individual investors must establish a firm worth $2.5 million for the five-year visa, while a $5 million investment is necessary for the ten-year visa.

Similar golden visas for investors have been proposed by several nations throughout the world, including the United States, Ireland, New Zealand, and Spain, in an effort to entice capital and enterprising residents.

For five-year visas for directors and commissioners, corporate investors must invest $25 million. In order to receive a 10-year visa, they must invest twice as much, or $50 million.

Individual foreign investors who don’t intend to create a corporation in the Southeast Asian nation are subject to different rules. The required amount of money that can be utilized to buy Indonesian government bonds ranges from $350,000 to $700,000.

“Once they arrive in Indonesia, golden visa holders no longer need to apply for permit,” Silmy Karim said.

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