The administration in Indonesia has rolled out the “Indonesia Golden Visa” in a bid to corner key foreign investments into Southeast Asia’s biggest economy. This would be embedded by introducing visas that can run up to ten years so that high-level economic growth is encouraged through the motivation of international investors. Under the Indonesia Golden Visa, a proper atmosphere is being created so that big contributions towards economic growth can come in from abroad.
How the Golden Visa Works: Options and Requirements
The Golden Visa comes with two major options for investors:
Individual Investors:
Five-Year Visa: The applicant shall make an investment of $2.5 million within a limited liability company in Indonesia or $350,000 in government bonds, public company stocks, or deposits.
Ten-Year Visa: applicant to make an investment of $5 million in a limited liability company in Indonesia or $700,000 in bonds, stocks, or deposits.
Corporate Investors:
Five-Year Visa: The company should invest $25 million to obtain a visa for the company’s directors and commissioners.
Ten-Year Visa: An investment of $50 million is required.
Investments in Indonesia’s new $32 billion capital city, being built in the jungles of Borneo, bring reduced requirements: $5 million for a five-year visa and $10 million for a ten-year visa.
Indonesia Golden Visa Motivations
According to President Joko Widodo, popularly known as Jokowi, this was a means towards attracting “high-quality investors” who will be meaningful in adding value to the economic development of Indonesia. The measure is part of a broader strategy that seeks to make the process easier for foreign nationals to invest in and tap from the huge, growing Indonesian economy.
According to Silmy Karim, head of Indonesia’s immigration agency, nearly 300 Golden Visas have already been granted since the trial phase began last year, raking in US$123 million of investments. This interest thus saw a positive response to this interest, which potentially can grow.
Special Status for Foreign Nationals of Indonesian Descent
In addition to the Golden Visa, there could also be a special additional status for foreign nationals of Indonesian stock, similar to India’s Overseas Citizenship of India. That is to say, under such a proposed scheme, persons of Indonesian origin will be able to live, work, and travel in Indonesia indefinitely, which would grant them much more mobility across the world and enable them to maintain ties with their ancestors’ homeland. This special status may come into place as early as October.
Global Context
While several countries, like Canada, Britain, and Singapore, have just announced the cancellation of similar investment visa programmes over concerns related to job creation and speculative investments, Indonesia’s Golden Visa scheme becomes pivotal for the country in securing real investors who can effectively drive its economic growth.
Conclusion
The Golden Visa Indonesia gives foreign investors an attractive offer of long-term residency and investment opportunity in one of the most dynamic economies in Southeast Asia, hence visa options and serious investment incentives. The programme will definitely contribute to enhancing Indonesia’s global investment appeal and further drive its economic development.
