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Indonesia Officially Launches Golden Visa for Foreign Investors Launched with 300 Registrations, $350,000 into Indonesia Securities or Deposits for 5-Year Resident Permit & $700,000 for 10-Year Permit, $2.5 Million Investment in Setup of New Company for 5-Year Resident Permit & $5 Million Investment for 10-Year Resident Permit, Corporate Investors 5-Year Permit Requires $25 Million Investment in Setup of New Company & 10-Year Permit Requires $50 Million Investment
27th July 2024 | Hong Kong
Indonesia officially launches the new golden visa for foreign investors with 300 registrations. The Indonesia golden visa requirement – 1) $350,000 into Indonesia securities or deposits for a 5-year resident permit & $700,000 for a 10-year permit, 2) $2.5 million investment into the setup of a new company for a 5-year resident permit & $5 million investment for a 10-year resident permit, and 3) corporate investors 5-year permit requires a $25 million investment in the setup of a new company & 10-year permit requires $50 million investment. The new golden visa also provides faster entry and exit at Indonesia airports.
“ Indonesia Officially Launches Golden Visa for Foreign Investors Launched with 300 Registrations, $350,000 into Indonesia Securities or Deposits for 5-Year Resident Permit & $700,000 for 10-Year Permit, $2.5 Million Investment in Setup of New Company for 5-Year Resident Permit & $5 Million Investment for 10-Year Resident Permit, Corporate Investors 5-Year Permit Requires $25 Million Investment in Setup of New Company & 10-Year Permit Requires $50 Million Investment “
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Indonesia (25/7/24) – The President of the Republic of Indonesia, Joko Widodo launched the Golden Visa on Thursday (25/07/2024) at The Ritz-Carlton Mega Kuningan, South Jakarta. In his speech, the President said that the Golden Visa makes it easier for foreign citizens (WNA) to invest and work, thereby providing a multiplier effect on the Indonesian economy.
- “Currently there are not many countries that have good economic growth, maintained political stability, as well as a demographic bonus and abundant natural resources. This means that Indonesia should be a promising investment destination country. It could become a destination country for global talents to work. All of this will have a big multiplier effect for the country. Starting from capital gains, job opportunities, technology transfer, improving the quality of human resources and others. Therefore, today we will launch the Golden Visa service to make it easier for foreigners to invest and work in our country, Indonesia. “Until today I asked the Director General of Immigration that there were 300 [Golden Visa] registrations, I was surprised too, that’s a lot,” said President Joko Widodo.
- Thus, Golden Visa will attract more good quality travelers to invest while staying and be productive while staying. “But remember, it’s only for good quality travelers, so you have to really select it,” he continued. President Joko Widodo emphasized that, through the principle of selective policy, the Government ensures that only individuals with high contribution potential can obtain the Golden Visa service.
- In line with this statement, the Indonesian Minister of Law and Human Rights, Yasonna H. Laoly said, the Golden Visa is an adaptive and responsive policy from the Ministry of Law and Human Rights, through the Directorate General of Immigration, which manifests one of the functions of immigration as a facilitator of community welfare development.
- “Indonesia opens up the widest possible opportunities for world figures, international investors, world talents and the Indonesian Diaspora to come, contribute and take part in developing Indonesia. The implementation of this policy brings new optimism for business people and investors to get comfort and certainty about investing in Indonesia,” said the Minister of Law and Human Rights.
- On this occasion, President Joko Widodo symbolically handed over a Golden Visa to a citizen from South Korea, the coach of the Indonesian National Football Team, Shin Tae Yong.
- Director General of Immigration, Silmy Karim, explained that Golden Visa holders are expected to enjoy a number of exclusive benefits from this type of visa. These include a longer stay period (up to 10 years), access to priority routes for immigration services at international airports, and efficiency because there is no longer a need to apply for a limited stay permit (ITAS) at the immigration office. Types of Golden Visas include Individual Investors, Corporate Investors, Ex-Indonesian Citizens, Descendants of Ex-Indonesian Citizens, Second Homes, Global Talents and World Figures.
- All Golden Visa applicants are required to declare their commitment to invest directly in Indonesia. The form of investment is determined based on the profile of the Golden Visa applicant (i.e. individual investor/corporate investor, with the aim of establishing a new company or not). Variations in investment include building a company with a certain value, purchasing capital market investment instruments (shares, mutual funds, government bonds), purchasing property, or placing a certain amount of funds in a state-owned bank account.
- “To date, the investment value received from Golden Visa is worth 2 trillion rupiah,” said Silmy.
- Silmy said that the qualifications for applying for a Golden Visa vary for each applicant. To be able to stay in Indonesia for 5 (five) years, foreign individual investors who wish to establish a company in Indonesia are required to invest US$ 2,500,000 (around Rp. 40 billion). Meanwhile, for a stay of 10 (ten) years, the required investment value is US$ 5,000,000 (around Rp. 81 billion).
- Meanwhile, for directors, commissioners or representatives of parent corporations who form a company in Indonesia and apply for a Golden Visa with a stay of 5 (five) years, the investment value is US$ 25,000,000 or around Rp. 406 billion. To be able to stay for up to 10 (ten) years, the investment value is US$ 50,000,000 or around Rp. 813 billion.
- Different provisions apply to individual foreign investors who do not intend to establish a company in Indonesia. For a 5 (five) year golden visa, applicants are required to place funds worth US$ 350,000 (around Rp. 5.6 billion) which can be used to buy Indonesian government bonds, public company shares or place savings/deposits; Meanwhile, for a 10 (ten) year golden visa, the funds that must be placed are US$ 700,000 (around Rp. 11.3 billion).
- “Golden Visa is implemented in a digital system that we try to make as easy as possible, through evisa.imigration.go.id. We are collaborating to integrate the Directorate General of Immigration’s electronic visa portal with banking services so that Golden Visa applicants can deposit immigration guarantees online from your country of origin. “It is hoped that fast and easy public services like this will encourage Indonesia to become an increasingly advanced country,” concluded the Director General of Immigration.
Indonesia Launches New Golden Visa for Foreign Investors: $350,000 into Indonesia Securities or Deposits for 5-Year Resident Permit & $700,000 for 10-Year Permit, $2.5 Million Investment in Setup of New Company for 5-Year Resident Permit & $5 Million Investment for 10-Year Resident Permit, Corporate Investors 5-Year Permit Requires $25 Million Investment in Setup of New Company & 10-Year Permit Requires $50 Million Investment
9th September 2023 – Indonesia has launched a new golden visa for foreign investors, 1) $350,000 into Indonesia securities or deposits for a 5-year resident permit & $700,000 for a 10-year permit, 2) $2.5 million investment into the setup of a new company for a 5-year resident permit & $5 million investment for a 10-year resident permit, and 3) corporate investors 5-year permit requires a $25 million investment in the setup of a new company & 10-year permit requires $50 million investment. The new golden visa also provides faster entry and exit at Indonesia airports.
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