Foreign investors eyeing opportunities in the Nusantara Capital City (IKN) can now secure a Golden Visa with simplified requirements.
This strategy aims to attract increased capital flow into IKN, bolstering its economic development.
On Thursday, 2nd January, Director General of Immigration, Silmy Karim announced, “The requirements for foreign companies preferring to invest in IKN have been lowered from a minimum investment of US$25 million to a minimum of US$5 million for a five-year stay permit. Meanwhile, the stay permit period of 10 years has been reduced from US$50 million to US$10 million.”
Karim further mentioned that foreign companies establishing branches or subsidiaries in IKN are not subject to turnover (sales value) requirements applicable to their parent companies, mirroring the regulations for foreign companies operating outside IKN.
As of January, a total of 62 Golden Visas have been issued. Karim highlighted that the ease of the Golden Visa for investors reflects the Directorate General of Immigration’s dedication to fostering national development. “We hope that the influx of foreign investors will provide an economic stimulus for IKN and the surrounding region,” Karim concluded.
To apply for a visa with the E28F index, applicants must complete the online application process via the website evisa.imigrasi.go.id. Required documentation includes a passport with a minimum validity of six months, a passport photo, and a statement confirming the commitment to establish a company in IKN with an investment of at least US$5,000,000 for a five-year residency or US$10,000,000 for a 10-year residency.