Indonesia Launches “Golden Visa” to Attract Foreign Investors.
In an effort to attract wealthy foreign investors, Indonesia has officially launched a “Golden Visa” program, according to a government announcement. This initiative aims to bring more international capital into the Southeast Asian archipelago.
The Golden Visa offers several benefits to holders, including extended stays in the country and priority immigration service lanes at international airports.
For individual investors planning to establish a company in Indonesia, the requirements are an investment of $2.5 million for a five-year stay or $5 million for a ten-year stay. Those who do not wish to form a company must invest $350,000 for a five-year stay or $700,000 for a ten-year stay by purchasing Indonesian government bonds, stocks of public companies, or making savings and deposits.
Additionally, directors, commissioners, or representatives of parent corporations seeking to set up a company in Indonesia must invest $25 million for a five-year stay or $50 million for a ten-year stay.
So far, Indonesia has received 300 applications for the Golden Visa, totaling an investment value of 2 trillion Indonesian rupiahs, approximately $120 million, according to Silmy Karim, Indonesia’s Director General of Immigration.
President Joko Widodo highlighted Indonesia’s advantages as an investment destination, stating, “Currently, not many countries have good economic growth, maintained political stability, demographic bonus, and abundant natural resources. This means Indonesia should be a promising investment destination and a global talent destination for work.”