Indonesia has launched a “Golden Visa” programme to attract foreign investors with long-term visas lasting up to ten years. Individual investors can receive a five-year visa by founding a $2.5 million firm, or a ten-year visa by investing $5 million. Additionally, they can also invest $350,000 for a five-year permit or $700,000 for a ten-year permit in government bonds, publicly traded equities, or savings.
Corporate investors must contribute $25 million to obtain five-year visas for directors and commissioners or $50 million for ten-year visas. Investment restrictions are reduced if the funds are directed towards Indonesia’s new capital in Borneo: $5 million for a five-year visa and $10 million for a ten-year visa.
President Joko Widodo, or Jokowi, indicated that the visa intends to encourage “good quality travellers.” Silmy Karim, the chief of Indonesia’s immigration service, stated that roughly 300 golden visas had been given during last year’s trial period, totalling $123 million.
Meanwhile, Indonesia is also considering providing special status to foreign nationals of Indonesian heritage, comparable to India’s Overseas Citizenship of India (OCI) programme. This effort responds to calls for dual citizenship, increasing global mobility and linkages for Indonesians living abroad.
