Summary:
- Indonesia Launches “Golden Visa” Offering Up to 10-Year Stays for Foreign Investors
- Investment Thresholds Range from $350,000 to $50 Million, with Lower Requirements for New Capital City
- Visa Program Aims to Attract High-Quality Investors Amid Global Scheme Reductions
On July 25, Indonesia introduced a long-term visa program to attract foreign investors, announced President Joko Widodo. The new “Golden Visa” offers a 10-year visa for investments of up to $10 million, providing access to Southeast Asia’s largest economy.
A five-year visa is available for investors who establish a company with $2.5 million, while a 10-year visa requires a $5 million investment. Alternatively, individuals can obtain a five-year visa with $350,000 and a 10-year visa with $700,000 by investing in Indonesian government bonds, public company stocks, or deposits.
Corporate investors need to invest $25 million for a five-year visa and $50 million for a 10-year visa. Investments in the new capital city under construction on Borneo island have lower thresholds: $5 million for a five-year visa and $10 million for a 10-year visa.
While similar schemes exist in other countries, some like Canada, Britain, and Singapore have discontinued them due to concerns about job creation and speculative investment. Widodo emphasized that the visa aims to attract high-quality investors to Indonesia.
Source: Straits Time
Date: 25th of July 2024
