Indonesia launches Golden Visa to lure foreign investors
Indonesia has launched a long-term visa scheme designed to attract foreign investors. The initiative offers visas of up to 10 years to investors, aiming to draw significant investments into Southeast Asia's largest economy.
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The new "Golden Visa" scheme offers two main options for investors: a five-year visa and a ten-year visa. To obtain a five-year visa, individual investors must establish a company worth at least $2.5 million. For a ten-year visa, the requirement is a $5 million investment. For those not interested in setting up a company, individuals can obtain a five-year permit by investing $350,000 or a ten-year permit with a $700,000 investment. These funds can be directed towards Indonesian government bonds, public company stocks, or placed as deposits.
Corporate investors have different criteria. Companies must invest $25 million to secure five-year visas for their directors and commissioners. To obtain ten-year visas, a $50 million investment is required. If investments are made in Indonesia's new $32 billion capital city, which is currently under construction in Borneo's jungles, the requirements are reduced to $5 million for a five-year visa and $10 million for a ten-year visa.
While similar investment visa schemes are available in several countries, others, like Canada, Britain, and Singapore, have recently discontinued these programs.
