Indonesia has unveiled a new Golden Visa programme designed to attract wealthy foreign investors and skilled professionals to the country. This long-term residency permit is valid for five to ten years,. It offers a range of benefits to those who meet the investment criteria.
Indonesia Announces 5-10 Year Golden Visa
The initiative is a strategic move by the Indonesian government to stimulate economic growth, create jobs, and transfer technology. It builds on the success of the ‘second home’ visa scheme launched in late 2022 and aims to attract ‘good quality travelers’ who can contribute positively to the nation’s economy and security.
To qualify for a golden visa, individuals must invest $2.5 million (approximately ₹20 crore) or make a $350,000 (approximately ₹2.8 crore) deposit in a state-owned bank for a five-year visa. They can also increase these amounts to $5 million (approximately ₹40 crore) and $700,000 (approximately ₹5.6 crore) respectively for a ten-year visa. Alternatively, individuals can purchase a $1 million (approximately ₹8 crore) apartment and deposit $130,000 (approximately ₹1 crore) in a state-owned bank. Companies can obtain golden visas for their directors and commissioners by investing $25 million (approximately ₹200 crore) for a five-year stay or $50 million (approximately ₹400 crore) for a ten-year stay.
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Benefits Of The Visa
The programme is designed to simplify the process for foreigners to invest in and contribute to Indonesia’s economy. It also aims to attract high-quality travellers who will spend money and create jobs.
Indonesia has set an ambitious target of attracting $101.5 billion in domestic and foreign direct investment in 2024 to support its GDP growth goal of 5.2%. The golden visa programme is expected to play a significant role in achieving this target.
The programme offers numerous benefits, including extended residency, family inclusion, and multiple entry allowances. It also comes with specific requirements. The Indonesian government aims to grant golden visas only to genuine investors and professionals who can contribute positively to the country.
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The introduction of the golden visa marks a new era for investment and residency in Indonesia. This offers a clear pathway to long-term residency and business opportunities. The government aims to position Indonesia as a leading destination for international business and talent.
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