The long-awaited news has finally been published by the Indonesian government: Golden Visa for foreign investor invests in Indonesia based on Regulation of the Minister of Law and Human Rights of the Republic of Indonesia Number 22 cf 2023 concerning Visas and Stay Permits.
This visa classification is intended for qualified foreigners who will benefit the country’s economic development, for both corporate and/or individuals. The visa will be granted in the period of 5 to 10 years to boost the national economy.
Please see below the matrix of minimum investment requirements to get the Golden Visa:
|No||Subject||5 years stay||10 years stay|
|1||Foreign Individual Investor||Establish a Company||USD2,500,000||USD5,000,000|
|Without Establishing Company||USD350,000 in the form of Indonesia’s government bonds, shares or mutual fund in Indonesia’s public company.||USD700,000 in the form of Indonesia’s government bonds, public company’s shares, or mutual funds; or
USD1,000,000 in the form of apartment in Indonesia
(granted for the BOD and/or BOC of the company)
Other than the minimum investment, the applicant must also prepare the following requirements:
- Minimum 6 (six) months passport validity;
- proof of having living expenses for himself and/or his family while in Indonesian Territory;
- recent color photograph; and
- other documents to explain the aims/objectives arrival of foreigners. Depending on the types of the golden visa as provided in the matrix above, further documents will be requested such as:
- proof of share ownership in an outside company Indonesian territory with a certain amount; and
- proof of turnover/specific sales value on overseas companies,
contained in the parent company’s financial audit report from an international public accounting firm.
WHY GOLDEN VISA?
Golden visa holders are expected to enjoy a number of exclusive benefits from this type of visa. These include a longer stay period, ease of leaving and entering Indonesia, as well as efficiency because there is no longer a need to apply for an ITAS at the immigration office. Once they arrive in Indonesia, they (golden visa holders) no longer need to apply for a limited stay permit (ITAS) at the immigration office. With this new program, the government wants to emphasize their support for the high net investor in investing in Indonesia.
Apply Golden Visa Program in Indonesia
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