Indonesia

Indonesia Introduces Golden Visa to Woo Foreign Investors

The Indonesian government has unveiled a new golden visa initiative aimed at drawing foreign investors to the country.

Under the newly announced scheme, individual investors can secure a five-year residence permit by establishing a company and making a minimum investment of $2.5 million. To qualify for a 10-year permit, the investment threshold is set at $5 million.

Corporate investors have a different set of criteria. Directors and commissioners seeking a 5-year residence permit must establish a company with an investment of at least $25 million. For a 10-year permit, the investment doubles to $50 million.

There is also a provision for foreign investors not keen on setting up a company in Indonesia. By placing funds between $350,000 (for a 5-year permit) and $700,000 (for a 10-year permit), these investors can still take advantage of the golden visa. These funds can be channeled into government bonds, shares in public companies, or simply placed as deposits within the country.

The golden visa comes with a range of exclusive benefits for its holders. Not only does it offer extended stay durations, but it also provides the convenience of smooth entry and exit from Indonesia. Additionally, there's no longer a need for these investors to apply for a temporary stay permit.

The director general of immigration, Silmy Karim, emphasized that the golden visa aims to bolster the national economy by granting foreigners a residence permit lasting between five to ten years.