Indonesia introduces “golden visa” to attract investors – Kommersant

A condition for foreign citizens or companies to obtain a “golden visa” in Indonesia will be investments in the amount of $350,000 to $50 million, Silmi Karim, head of the migration service of the country’s Ministry of Human Rights, said.

“Since we are targeting quality applicants, the conditions are more significant. The longer they stay in Indonesia, the higher the guarantee value, especially for investment activities, which can reach approximately 760 billion Indonesian rupiah ($ 50 million),” Silmi Karim quotes the publication. Media Indonesia).

According to the conditions outlined in the ministry’s statement, a five-year visa requires individual investors to set up a company worth $2.5 million, and a ten-year visa requires an investment of $5 million. Corporate investors must invest $25 million to obtain five-year visas for all executives company and $50 million to get a 10-year visa.

Foreign citizens who wish to obtain a “golden visa” for a period of five years, but do not apply for starting a business, must place $350,000 in the Indonesian economy. To do this, you need to either buy government bonds or shares of public companies, or open savings deposits in the country’s banks. To obtain a visa for ten years, without the intention of starting a business, a foreigner needs to invest $700,000 in the economy.

Silmi Karim noted that Indonesia is not the first country to introduce a “golden visa”. By analogy with other states, the Indonesian authorities hope that this practice will strengthen the country’s economy. A similar policy has already been implemented in the US, Canada, UAE, Ireland, Germany, New Zealand, Italy and Spain.

Milena Kostereva