Indonesia has launched the “golden visa” program

What has happened? The Indonesian government has introduced a golden visa policy to attract eligible foreign corporate and individual investors.

Details. Silmy Karim, the country’s director-general of immigration, said that the visas will be issued to foreigners as a basis for a stay permit of five to ten years.

General requirements:

• For a five-year stay, individuals who wish to establish a company must invest $2.5 million, and those looking for a 10-year stay are required to invest $5 million.
• On the other hand, corporate investors should make an investment of $25 million to be eligible to stay in the country for five years, and those who offer $50 million will be granted a 10-year stay permit.
• Investors who do not want to set up a company in Indonesia can buy government bonds, shares of public companies or have deposit savings of $350,000 for a five-year stay and $700,000 for 10 years.

Quote. “Because we are targeting quality investors, the requirements are more thorough,” Karim said.

“The longer you stay in Indonesia, the higher the deposit amount required, especially for foreign investment.”

Advantages. In addition to extending the length of stay, golden visa holders will also be able to easily leave and enter Indonesia, and will no longer need to apply for a temporary residence permit (ITAS) at the immigration office.

Quote. “Countries that have implemented the golden visa policy are getting a positive impact. Denmark, for example, has succeeded in becoming one of the countries at the forefront of innovation. Then, the United Arab Emirates became a favorite destination for foreign investors,” Karim said.

“Hopefully, with this policy, Indonesia will also receive a similar effect. Moreover, our country has a myriad of potentials to be fully managed and developed.”

Source: The Cable

Photo by Jeremy Bishop on Unsplash

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