JakartaGlobe-Dec 17
The Immigration and Correctional Affairs Ministry has issued 471 Golden Visas since the program’s launch in July 2024, attracting a total investment of Rp 9 trillion ($558 million). According to Jaya Saputra, Director of Residence Permits and Immigration, the ministry issued 5.16 million visas between Jan. 1 and Dec. 15. Of these, 89 percent were visa on arrival (VoA). Other categories included 420,000 single-entry visas, 43,000 multiple-entry visas, and 62,000 limited-stay visas. By December 15, 2024, non-tax state revenue from visa services had reached Rp 8.58 trillion, surpassing the 2024 target of Rp 6 trillion by 43 percent. Launched by President Joko Widodo on July 25, the Golden Visa program aims to attract international investment and talent. The visa is available in several categories, including for individual and corporate investors, former Indonesian citizens, descendants of former citizens, global talent, and prominent figures. Notable recipients include Indonesian National Football Team coach Shin Tae-Yong and OpenAI co-founder Sam Altman. The Golden Visa offers residency for up to 10 years. Individual investors who invest at least $2.5 million and establish a company are eligible for a 5-year residency. If their investment reaches $5 million, they can stay for 10 years. Investors who choose not to establish a company can still qualify by investing at least $350,000 for a 5-year residency or $700,000 for a 10-year stay. Corporate investors must set up a company in Indonesia and invest at least $25 million for a 5-year residency, with those investing over $50 million eligible for a 10-year stay. The larger the investment, the longer the residency period. Read more at:
