On Thursday, July 25, 2024, Indonesian President Joko Widodo officially launched the Golden Visa program at The Ritz-Carlton Mega Kuningan, Jakarta. In his address, President Widodo emphasized that the Golden Visa aims to facilitate foreign nationals in investing and contributing to Indonesia’s economy, generating significant multiplier effects.
“Few countries currently possess a combination of robust economic growth, political stability, abundant natural resources, and a demographic advantage. Indonesia should therefore be a promising investment destination and a hub for global talents. This policy will create a substantial multiplier effect for our nation, including capital gains, job opportunities, technology transfers, and improvements in human resources. Today, we are launching the Golden Visa service to ease investment and productivity for foreigners in Indonesia. I was surprised to learn that we already have 300 Golden Visa applications,” President Widodo stated.
He added that the Golden Visa will attract high-quality travelers who are willing to invest and be productive during their stay. The President stressed that the government is adopting a selective policy to ensure that only those with high potential contributions are granted the Golden Visa.
Supporting this view, Yasonna H. Laoly, Minister of Law and Human Rights, characterized the Golden Visa as a flexible and proactive initiative from the Ministry of Law and Human Rights (Kemenkumham) via the Directorate General of Immigration.
Also read: What is a Golden Visa: Meaning, Benefits, Requirements
What is Golden Visa Indonesia?
The golden visa itself is an immigration product that allows foreign nationals to enter and reside in Indonesia for a period of 5 to 10 years.
There are types of golden visas, including those for individual investors such as founders of companies, non-founding investors, former Indonesian citizens who are now foreign nationals, global talents, and digital nomads.
Also read: Investing in Indonesia: Great Opportunity for Global Investors
Types of the Indonesian Golden Visa
As stipulated in Permenkumham Number 11 of 2024 concerning Amendments to Permenkumham Number 22 of 2023 concerning Visas and Stay Permits, the following are those who can receive a golden visa for Indonesia:
Individual Investors:
- For a 5-year residence permit, individual investors must invest at least USD 2,500,000 (approximately Rp38 billion) in establishing a company in Indonesia.
- For a 10-year residence permit, the required investment is USD 5,000,000 (about Rp76 billion).
Corporate Investors:
- Corporations investing USD 25,000,000 (around Rp380 billion) will receive a 5-year Golden Visa for their directors and commissioners.
- Corporations investing USD 50,000,000 (approximately Rp76 billion) will be granted a 10-year visa.
Non-Company Investors:
- For individual investors not establishing a company, a 5-year Golden Visa requires a minimum investment of USD 350,000 (about Rp5.3 billion) in government bonds, public company stocks, or deposits.
- For a 10-year visa, the required investment is USD 700,000 (around Rp11 billion).
Also read: Indonesia Visa Exemption: A Complete Countries List
Diaspora (Ex-Indonesian Citizens):
Golden Visas are available for former Indonesian citizens and their descendants.
Second Home:
Aimed at those seeking a long-term residence without setting up a business.
Global Talent:
For individuals with exceptional skills and achievements.
Personage (Public Figures):
Distinguished individuals with notable contributions to their fields.
Silver Hair:
Intended for retirees who want to live in Indonesia.
Also read: Who Can Apply for Indonesia’s Golden Visa?
Benefits of Indonesia Golden Visa
Golden Visa holders will benefit from several advantages over standard visa holders, such as:
- Extended stay durations of 5 to 10 years.
- Simplified and expedited visa application and immigration procedures.
- Multiple-entry mobility.
- The right to own assets in Indonesia.
- No need for additional ITAS processing at immigration offices.
Also read: 15 Benefits of Golden Visa
How Long is an Indonesian Golden Visa Valid for?
Once approved, Golden Visa holders will be granted a residence permit of between five and 10 years, depending on the value of their investment.
Also read: Golden Visa vs Investor KITAS Indonesia: Key Differences
Indonesia Golden Visa Process
The Golden Visa application process is entirely digital through the evisa.imigrasi.go.id portal. Applicants can submit their documents, make payments, and track their applications online. The process includes:
- Submission: Online application and payment via Mastercard, Visa, or JCB cards.
- Approval: Typically processed within four working days.
- Commitment Fulfillment: Applicants must report their commitment to invest within 90 days of ITAS (Limited Stay Permit) issuance.
- Visa Acceptance: Approval and visa documents are sent via email in PDF format.
The Directorate General of Immigration will periodically evaluate compliance with the investment commitments. Failure to meet these commitments can result in cancellation of the ITAS and the Golden Visa, with repatriation required within seven days.
Also read: Directorate General of Immigration Indonesia Implements Bridging Visa
The Indonesia Golden Visa program is a new and attractive option for foreign investors who are looking to relocate to Indonesia or to expand their business interests in the country. The program offers a number of benefits, including a long-term residence permit, priority access to government services, and the ability to work in Indonesia without a work permit.
If you are interested in applying for Indonesian Visa, you can contact the Indonesian embassy or consulate in your home country for more information.
You can also rely on our team of experts to assist with your Golden Visa application. We can also help you with other visa and stay permit-related matters in Indonesia, such as:
- Indonesia business visa application
- Indonesia tourist visa application
- Indonesia work visa / KITAS application
- Indonesia investor visa / KITAS application
- Indonesia spouse visa application
- Indonesia dependent visa application
- Visa on Arrival extension in Indonesia
- Indonesia KITAP application
- APEC Business Travel Card
- And any other related inquiries.
Chat with us now for a FREE consultation and receive an exclusive promotion!
Article source:
- Pocket Guide from Ministry of Foreign Affairs Republic of Indonesia
- Indonesian Directorate General of Immigration Website
Also read: Indonesia Grants its First Golden Visa to Sam Altman, CEO of OpenAI
Article reviewed by:
