Riding on the wave of increasingly mobile wealthy individuals, Indonesia has launched its own «Golden Visa» to lure investors to the Southeast Asian archipelago.
Indonesia has officially launched a «Golden Visa» to attract foreign investors, according to a government statement. In addition to extended stays, visa holders will also enjoy other benefits cut as priority immigration service lanes at international airports.
For individual investors that wish to stay in the country via the establishment of a company, they must invest $2.5 million for a five-year stay and $5 million for a 10-year stay. If individual investors do not intend to form a company, they are required to place $350,000 of funds for a five-year stay and $700,000 for a 10-year stay to purchase Indonesian government bonds, public company stocks or savings and deposits.
And for directors, commissioners, or representatives of parent corporations establishing a company in Indonesia, an investment value of $25 million and $50 million is required for a five-year and a 10-year stay, respectively.
Applications Received
According to Indonesia’s Director General of Immigration Silmy Karim, there are already 300 applicants for the Golden Visa with 2 trillion Indonesian rupiahs ($120 million) in investment value received.
«Currently, not many countries have good economic growth, maintained political stability, demographic bonus, and abundant natural resources. This means Indonesia should be a promising investment destination and a global talent destination for work,» said Indonesia President Joko Widodo.
