Eligibility Criteria
Applicants must demonstrate their financial standing by submitting evidence of income, savings held outside of Indonesia, and any investments made or planned. A bank statement showing a balance exceeding 2 billion Indonesian rupiahs (approximately 130,537 US dollars) is required.
Additionally, to qualify, individuals must invest a minimum of USD 350,000 for a 5-year visa or USD 5,000,000 for a 10-year visa. For corporate investments, the amounts increase to USD 25,000,000 for a 5-year visa and USD 50,000,000 for a 10-year visa.
The Indonesian government has compiled all requirements in their official document: Golden Visa Indonesian government.
These visas target affluent and influential individuals who can make substantial contributions to Indonesia’s economic growth and development.
Investment Requirements
Foreign nationals can obtain the Golden Visa by making considerable investments in various areas, including shares in local public companies, government bonds, real estate, or savings accounts. This investment strategy is in line with the OECD’s definition of a golden visa, which is a residency or citizenship program granted based on significant investment.
Benefits of the Golden Visa
Golden Visa holders enjoy a range of advantages. Below are the key benefits of obtaining a Golden Visa for foreign nationals:
1. Longer Stay Period
A significant draw of the Golden Visa is the ability to reside in Indonesia for an extended period—either five or ten years. This extended stay is especially appealing for those planning long-term projects, such as real estate investments, business ventures, or those seeking a comfortable retirement in an exotic location. The visa’s long duration allows holders to settle into Indonesia and integrate into its culture.
2. Simplified Entry and Exit
Golden Visa holders experience streamlined processes when entering and leaving Indonesia, drastically reducing the usual administrative tasks and wait times associated with international travel. This freedom of movement is particularly advantageous for investors and business leaders who need to manage their global operations efficiently, without being bogged down by bureaucratic delays.
3. Easier Long-Term Visa Procedures
Acquiring long-term visas often involves complicated and time-consuming steps. The Golden Visa program simplifies this by offering a faster, more straightforward process. This allows holders to concentrate on their business or personal interests rather than dealing with red tape. Additionally, the ease of obtaining this visa online encourages more individuals to consider Indonesia as a long-term destination.
4. Ideal for Prominent Individuals
The Golden Visa also aims to attract internationally renowned individuals. Whether celebrities, thought leaders, business tycoons, or tech innovators, their presence can elevate Indonesia’s global standing. These influential figures can bring new economic and cultural opportunities, further highlighting Indonesia’s growing potential on the world stage.
5. Stringent Selection Process
To ensure only individuals who can make a significant positive impact are granted this visa, the selection criteria are strict. Applicants must demonstrate the ability to invest and maintain substantial financial resources. This rigorous process ensures that those who qualify are capable of contributing meaningfully to Indonesia’s economic and social fabric.
6. Benefits for Indonesia
The Golden Visa is designed to attract individuals who will benefit Indonesia in multiple ways. Direct investments in key sectors, such as real estate, local businesses, and government bonds, can help drive economic growth. Additionally, the influx of skilled professionals and entrepreneurs is expected to foster innovation, create jobs, and encourage the transfer of knowledge, all contributing to Indonesia’s long-term development.
7. First Issuance and Expected Impact
The first recipient of Indonesia’s Golden Visa is Samuel Altman, CEO of OpenAI, marking an exciting start for the program. By adopting this model, Indonesia joins a list of countries like the United States, Canada, the UAE, Ireland, Germany, New Zealand, Italy, Spain, and Denmark, which have all successfully launched similar initiatives.
Conclusion
The collaborative efforts of Indonesia’s Ministry of Immigration and Finance have resulted in a unique opportunity for foreign investors to engage with a rapidly growing economy while enjoying a stable legal and financial environment. This program is anticipated to attract individuals capable of making significant investments and offering valuable expertise, thereby contributing to Indonesia’s continued prosperity and sustainable development.
