Indonesia to launch Golden Visa programme by end of the year

economictimes.indiatimes.com:

Indonesia is all set to launch its own Golden Visa programme by the end of 2023. The popular tourist destination is working to change its immigration policy in order to promote foreign investment and attract international entrepreneurial and business talent. Speaking to reporters after a recent press conference Indonesia’s Minster for Tourism and Creative Economies, Sandiaga Uno revealed that the ‘golden visa’ will be rolled out by the end of the year. “We want to make sure that the Golden Visa offer is attractive for foreign tourists to invest and stay longer in Indonesia. We hope for certainty (launch) before the end of the third quarter,” Uno said. As per the initial announcement, the new residency-by-investment visa was slated to be available by June 2023.

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Last year, the country announced a new “second home visa” of five years and 10 years for those possessing at least 2 billion rupiah ($130,000) in their bank accounts. “This a non-fiscal incentive for certain foreigners to make a positive contribution to the Indonesian economy,” said Acting Director General for Immigration Widodo Ekatjahjana during a launch ceremony in the resort island. Indonesia joined the likes of countries like Costa Rica and Mexico — offering long-term stays to lure professionals, retirees and other wealthy people. Indonesia floated plans for a digital nomad visa in 2021, focused on attracting visitors to Bali. The Indonesian government lifted most of its travel restrictions and implemented a quarantine-free trial