The President of the Republic of Indonesia, Joko Widodo, officially launched the Golden Visa on Thursday (25/07). The Golden Visa is an immigration product that allows foreign nationals to enter, exit, or reside in Indonesia for 5-10 years.
Indonesia aims to become a destination for global talents, creating a significant multiplier effect. This includes capital gains, technology transfer, job opportunities, and improving the quality of human resources. Hence, the launch of the Golden Visa aims to facilitate and provide convenience for foreign nationals who wish to invest in Indonesia.
What is the Golden Visa?
According to the official website of the TPI SAMPIT Immigration Office Class II, the Golden Visa is based on the Minister of Law and Human Rights Regulation No. 22 of 2023 on Visas and Stay Permits, and the Minister of Finance Regulation No. 82 of 2023, enacted on August 30, 2023, which serve as the foundation for the establishment of the Golden Visa policy.
The Golden Visa is an immigration product that facilitates foreign nationals' entry and exit to and from Indonesia more easily, quickly, and efficiently, lasting 5 to 10 years. Foreign nationals who possess this Golden Visa will enjoy numerous benefits and conveniences not available to regular visa holders.
Quoting from the official website of the Ministry of Tourism and Creative Economy of the Republic of Indonesia, other benefits include simplified and faster visa application and immigration procedures, multiple entry mobility, the right to own assets in the country, extended stay duration, and a fast-track pathway for citizenship application.
Who is eligible for the Golden Visa and why?
Specific qualifications are required for foreign nationals to obtain the Golden Visa from the Indonesian government. The requirements vary for each applicant.
According to the official website of the Yogyakarta Immigration Office, there are different requirements for each type of applicant. Individual foreign investors intending to establish a company in Indonesia must invest at least US$ 2,500,000. Meanwhile, foreign nationals who wish to secure a 10-year stay must invest at least US$ 5,000,000.
For corporations wanting to establish a company in Indonesia and apply for a 5-year visa, an investment of US$ 25,000,000 is required. For corporations aiming for a 10-year visa, an investment of US$ 50,000,000 is necessary.
What is the purpose of the Golden Visa?
The purpose of the Golden Visa program is to provide easy service for foreign nationals who wish to invest and work in Indonesia. However, the Golden Visa is exclusively for high-quality travelers, requiring a selective process to ensure that only well-screened foreign nationals receive the Golden Visa, preventing unqualified individuals from obtaining it.
