JakartaPost-July 25, 2024
Indonesia’s long-term visa scheme, called the golden visa, is only meant for “good quality travelers”, said President Joko “Jokowi” Widodo during the policy’s launch on Thursday, as he warned against allowing newcomers who bring no benefits or who might pose a threat to national security. The government officially launched on Thursday the golden visa program, which aims to attract foreign investors, global talent and the diaspora to put their money into the country or contribute their expertise in exchange for longer permits to stay in the country for between five and 10 years. The long-term visa, he added, would create a multiplier effect for Indonesia, the largest economy in Southeast Asia, boosting the capital gain, work opportunities and transfers of technology. “But keep in mind, [these visas] are only for good quality travelers, so [authorities] must carefully select and evaluate the contribution [of each applicant],” Jokowi said. “Let’s make sure [that we] don’t grant visas to those that might harm national security or who don’t offer any benefits to the national [economy].” Under the scheme, individual investors are required to set up a company worth US$2.5 million in investment for the five-year golden visa, and a $5 million investment for the 10-year visa. Meanwhile, corporate investors are required to invest $25 million to get five-year visas for directors and commissioners. They need to invest $50 million to gain a 10-year visa. In a bid to lure more foreign investors to the ongoing megaproject to build Indonesia’s future capital city Nusantara in East Kalimantan, the government set a lower value of $5 million for investment in Nusantara to get a five-year visa and $10 million for a 10-year visa, Immigration Director General Silmy Karim said. Read more at: https://www.thejakartapost.com/indonesia/2024/07/25/golden-visa-only-for-good-quality-travelers-says-jokowi.html.
