The Golden Visa is categorised for qualified foreigners who will contribute to Indonesia’s economic development, including investors, both corporate and individual, as stated by the Director General of Immigration, Silmy Karim.
“The Golden Visa is a visa issued as the basis for granting a residence permit for a period of five to 10 years to support the national economy,” said Karim.
The regulations governing this are outlined in the Regulation of the Minister of Law and Human Rights Number 22 of 2023 concerning Visas and Stay Permits. Article 184 of the regulation defines the Golden Visa as a group of limited stay visas, limited stay permits, permanent stay permits, and re-entry permits for a specific duration.
Limited stay visas, limited stay permits, permanent stay permits, and re-entry permits are granted for investment activities, family reunification, repatriation, and second homes, as stated in Article 185.
Karim explained that the issuance of the Golden Visa was a directive from President Joko Widodo, making this policy a priority programme to be completed within six months. This period is for reviewing and formulating the policy.
“Because we are targeting quality travellers, the requirements are more stringent. The longer you stay in Indonesia, the higher the guarantee value, especially for investment activities, which can reach approximately Rp760 billion,” he said.
Therefore, foreigners who wish to establish a company in Indonesia can obtain a Golden Visa for a five-year stay by investing US$2.5 million or around Rp38 billion. For a 10-year stay, the required investment value is US$5 million or approximately Rp76 billion.
Meanwhile, corporate investors who establish a company in Indonesia and invest US$25 million or around Rp380 billion will receive a Golden Visa, allowing their directors and commissioners to stay for five years. For an investment value of US$50 million, a 10-year stay will be granted.
Different provisions apply to individual foreign investors who do not intend to establish a company in Indonesia. They can stay for five or 10 years by purchasing Indonesian government bonds, shares, or deposits within certain limits.
For instance, to obtain a five-year Golden Visa, applicants are required to invest funds worth US$350,000 or around Rp5.3 billion, which can be used to purchase Indonesian government bonds, shares in public companies, or place savings or deposits. In the case of a 10-year Golden Visa, the amount is US$700,000 or approximately Rp10.6 billion.
Golden Visa holders can enjoy several exclusive benefits, including longer stay periods, ease of entry and exit to Indonesia, as well as efficiency, as there is no need to apply for a residence permit at the immigration office once they arrive in Indonesia.
“Once they arrive in Indonesia, they (Golden Visa holders) no longer need to apply for a limited stay permit (ITAS) at the immigration office,” he explained.