Golden Visa : In a visionary move to bolster foreign investment and stimulate economic growth, Silmy Karim, the director-general of immigration in Indonesia, announced on Saturday the launch of the country’s innovative “Golden Visa Program.” This program is set to reshape the landscape of foreign investment and residency opportunities in Indonesia.
Golden Visa Program & Its Efforts
The Golden Visa Program, aptly named for the remarkable opportunities it offers, grants foreigners the chance to secure a stay permit in Indonesia for a duration of five to ten years. This initiative aims to attract quality investors and entrepreneurs from around the world, promising a myriad of benefits, including simplified immigration processes.
For individuals seeking a five-year stay, the threshold requires an investment of $2,500,000, while those eyeing a decade-long stay are expected to invest $5,000,000 in Indonesia. Corporate investors, on the other hand, must make a significant commitment, with an investment of $25,000,000 for a five-year stay or an impressive $50,000,000 for a decade-long stay permit.
Alternatively, investors not interested in establishing a company in Indonesia have the option to invest in government bonds, or public company shares, or maintain deposit savings of $350,000 for a five-year stay or $700,000 for a ten-year stay. Director-General Silmy Karim emphasized that these requirements are designed to attract high-calibre investors, reflecting the nation’s commitment to quality over quantity.
“The longer you stay in Indonesia, the higher the deposit amount required, especially for foreign investment,” stated Karim, underscoring the government’s dedication to fostering long-term relationships with investors who contribute significantly to the country’s development.
Beyond the extended stay duration, recipients of the Golden Visa will benefit from simplified travel logistics. They will no longer need to apply for a temporary stay permit (ITAS) at the immigration office, streamlining their experience in Indonesia.
Silmy Karim pointed to successful precedents in other countries that have implemented similar golden visa policies. “Countries like Denmark have surged to the forefront of innovation, and the United Arab Emirates has become a favoured destination for foreign investors. With this policy, we aspire to see Indonesia receive a similar effect.”
Indeed, Indonesia boasts immense untapped potential across various industries, from technology and tourism to agriculture and manufacturing. The Golden Visa Program is a significant step towards realizing and harnessing this potential for the country’s benefit.
While Indonesia joins the ranks of nations like the United States, Canada, Ireland, Germany, New Zealand, Italy, and Spain in offering golden visas, its unique charm, diverse culture, and unparalleled natural beauty make it an alluring destination for those looking to invest and call it home.
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