Indonesia’s Golden Visa opens up new opportunities to live in the country
The country’s authorities have announced the launch of Indonesia’s Golden Visa programme, which will help increase the inflow of foreign capital. The initiative aims to boost a number of economic sectors, including technology, healthcare and research. The programme’s authors expect it to help Indonesia create around 4.4 million jobs.
Conditions for obtaining the Golden Visa
According to the head of the country’s Immigration Department, Silmi Karim, the investment programme will allow foreigners to obtain residence permits for 5 or 10 years. In addition, the authorities are discussing the issue of owning property on the island of Bali. Another benefit of the Golden Visa is the ability to visit Indonesia without restrictions, as well as a simplified process for obtaining various visas and citizenship.
Those wishing to participate in the programme will have the following requirements:
– to obtain a 5-year residence permit, it is necessary to establish a company in Indonesia with a capitalisation of USD 2.5 million;
– in order to live in the country for 10 years, it is necessary to invest USD 5 million in the local economy.
There is another way to obtain a visa. The applicant can buy public investments of USD 350,000 to USD 700,000.
As for the requirements for corporate investors:
– the 5-year permit requires an investment of USD 25 million;
– for 10 years, the amount is USD 50 million.
The first Golden Visas have already been issued in the third quarter of 2023. It is worth noting that the programme’s financial requirements are similar to those of another Indonesian initiative, the Second Home Visa.
Other active visas in Indonesia
The Second Home Visa was launched at the end of 2022 and allows you to obtain a residence permit in the country for 5 or 10 years. To qualify, foreigners must have around USD 130,500 in their bank account. This type of visa is for people of retirement age and investors looking to buy Indonesian property.
The optimal solution for digital nomads who prefer to live in Bali and work remotely is the B211a visa. This gives the holder the right to stay in the country for 6 months. In addition, the Indonesian government is considering extending this permit’s validity up to 5 years. Foreigners can also apply for a visa on arrival in the country. It costs approximately USD 32 and gives the right to stay legally on the territory of Indonesia for 30 days. It is also possible to extend the visa for another 30 days.