Indonesia Launches Golden Visa Program to Attract Foreign Investors

The Indonesian Ministry of Law and Human Rights announced the above information. “The golden visa will grant a residence permit for a period of 5 to 10 years,” said Silmy Karim, director-general of the Indonesian Immigration Department.

To get a five-year visa, individual investors need to establish a company worth $2.5 million. For a 10-year visa, they need to invest 5 million USD.

Meanwhile, corporate investors must pour $25 million to get a five-year visa for corporate directors and councilors. In addition, they need to invest twice as much, equivalent to 50 million USD, to get a 10-year visa.

In addition, there are various regulations that apply to foreign individual investors who do not wish to establish a company in this Southeast Asian country. That provision includes $350,000 to $700,000 in funds that can be used to purchase Indonesian government bonds.

Mr. Silmy stated: "Once arriving in Indonesia, golden visa holders do not need to apply for a permit anymore."

Other countries around the world, including the US, Ireland, New Zealand and Spain have issued similar golden visas to investors looking to attract capital and individual start-ups.

The modern idea of citizenship by investment originated in the 1980s. According to the Switzerland-based Investment Migration Council, the first citizenship by investment program was introduced in Tonga in 2015. 1982, followed by St. Kitts and Nevis in 1984.

Today, most countries offer some route for investors to obtain citizenship. Required investments range from approximately $100,000 in the Caribbean to up to $3.25 million in Europe. Some countries require investors to reside in the host country for a certain number of days or establish a business, while others don't even need them to come.

Indonesia Launches Golden Visa Program to Attract Foreign Investors

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