The new “Golden Visa” scheme will allow individuals to stay for five or ten years in the country
Indonesia launches Golden Visa scheme. Credit: Canva
Indonesia has taken a significant step towards bolstering its economy with the introduction of the Golden Visa. Designed to attract high-net-worth individuals and skilled professionals, this long-term visa offers holders up to a decade of residency. This initiative is part of Indonesia’s strategy to bolster its GDP by securing $101.5 billion in domestic and foreign direct investment for 2024. With this new visa scheme, the island nation hopes to attract quality travellers who will contribute to the economic growth of this beach-bound country!
Indonesia is taking aim at the growing number of foreigners exploiting tourist visas to establish businesses or live extended periods in popular destinations like Bali without contributing significantly to the local economy. By requiring significant investments in businesses, real estate, or government bonds, Indonesia hopes to stimulate economic growth and create jobs.
How To Qualify For Golden Visa
To qualify for the Golden Visa, applicants can choose from several pathways: investing a minimum of $2.5 million to establish a company, depositing at least $350,000 in a state-owned bank, purchasing a luxury apartment while making a substantial deposit, or committing significant capital to corporate or government projects. The visa offers holders between five and ten years of residency, along with potential benefits like faster immigration processes and easier property ownership.
With this, Indonesia joins countries like Cambodia, Thailand, Malaysia, and Singapore, which have also announced similar visas to promote local economy and development. The Golden Visa program is a strategic move by Indonesia to enhance its economic competitiveness. By offering a stable political climate, abundant natural resources, and now, a streamlined pathway for foreign investment and skilled immigration, the country is positioning itself as an attractive destination for global businesses and entrepreneurs.
