To attract qualified foreign corporate and individual investors, the Indonesian government has implemented a golden visa policy.
According to Silmy Karim, the country’s director-general of immigration, the visas will be granted to foreigners as the basis for a five to ten year stay permit.
Individuals looking to establish a company must invest $2,500,000 for a five-year stay. Those looking for a 10-year stay must invest $5,000,000.
Corporate investors, on the other hand, are expected to make a $25,000,000 investment and will be allowed to stay in the country for five years. Those who invest $50,000,000 will be granted a 10-year stay permit.
Investors who do not want to set up a company in Indonesia must purchase government bonds, public company shares, or have deposit savings of $350,000 for a five-year stay and $700,000 for a ten-year stay.
“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.”
Aside from having a longer stay duration, golden visa holders will also have it easier to leave and enter Indonesia, as they will no longer need to apply for a temporary stay permit (ITAS) at the immigration office.
“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 favourite 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.”
The United States, Canada, Ireland, Germany, New Zealand, Italy, and Spain are among the other countries that provide golden visas.
