By giving foreign investors enticing residence prospects, the Indonesia Golden Visa Program is an attempt to increase foreign investment.
The scheme targets growth in the economy while providing participants with long-term residence benefits. It has distinct investment requirements and many categories based on investor types.
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Indonesia Golden Visa Program Overview
What is Indonesia golden visa?
Following a 2023 trial, the program was formally rolled out in July 2024 with the goal of streamlining the residence requirements for foreign citizens wishing to make investments in the nation.
Almost 300 golden visas have been granted since the initial test phase started, generating investments worth about 123 million USD. Nevertheless, a significant jump in applications will be required to hit the government’s goal of 1,000 recipients.
Who can apply to Indonesia new golden visa?
- Individual Investors (both who wish to form a business and those who don’t)
- Corporate Investors
- Former citizens
- Descendants of former citizens
- Second home seekers
- Global talent
- Public figures
- Retirees
Indonesia Golden Visa Requirements and Structure
Five or 10 years of residency are available based on the applicant’s profile and level of investment.
Individual investors
Demands a minimum payment of 700,000 USD for a 10-year visa and 350,000 USD for a five-year visa.
Those starting a firm must submit evidence of significant commercial operations outside Indonesia. The investment requirements are 2.5 million USD or 5 million USD for a five- and 10-year visa.
Corporate investors
Must invest at least 50 million USD for a visa with validity of 10 years, which includes visas for commissioners and business directors, and 25 million USD for a visa valid for 5 years.
Former Indonesian citizens
Must invest at least 35,000 USD in government bonds, shares, or mutual funds; their descendants must also contribute a minimum of 50,000 USD.
Second home seekers
Applicants must deposit at least 130,000 USD in a gov’t-owned bank or buy property valued at 1 million USD, minimum.
Global Talent
Must present documents attesting to proficiency in a relevant subject plus proof of sponsorship from the Indonesian government.
This guarantees that highly qualified people back the nation’s development initiatives.
Public Figures
Public figures applying for the golden visa must be recognized for their achievements and receive sponsorship from a government institution.
This category is designed to attract distinguished individuals whose influence and contributions can elevate the country’s global standing.
Retirees
Mandated to deposit 50,000 USD minimum in a state-owned bank to establish a long-term residence.
Indonesia golden visa cost
The length of the visa determines the application costs for the Indonesia golden visa program. The application price is 13 million rupiah for a five-year visa and 19.5 million rupiah for a 10-year visa.
Meanwhile, a discounted charge of 12 million rupiah is available to former Indonesian nationals and their descendants for both visa options.
How to apply to Indonesia golden visa 2024
Applications must be submitted via the Ministry of Law and Human Rights’ official website, including the necessary paperwork and application costs.
Throughout the process, evidence of investment, financial soundness, and other pertinent documentation are crucial.
The processing time typically takes four working days.
Indonesia golden visa benefits
- Those with golden visas get preferential access to international airports and are excluded from filing for restricted stay permits, among other administrative burdens.
- The program serves international talent, second-home seekers, individual and corporate investors, and former Indonesian residents and their offspring.
- Up to 10 years of residence is granted.
- Offers different investment options to participants.
Disadvantages of Indonesian golden visa
- Investment requirements can be quite costly for other interested applicants.
- A direct path to Indonesian citizenship is not offered by the Golden Visa. The need that applicants give up their current nationality in order to become citizens of Indonesia may put off a lot of investors.
Golden Visa Indonesia News
As per reports, the Indonesia Golden Visa Program has been effective in drawing substantial international investment since its rollout.
The scheme has reportedly granted almost 500 golden visas from then, demonstrating the elevated demand from foreign investors.
The initiative has the potential to significantly contribute to Indonesia’s growth and development as an economy if interest and participation go on.
In fact, the country is also reportedly working hard to meet its target of awarding 1,000 golden visas by end 2024 in an effort to draw in foreign investment and boost economic growth.
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