JakartaPost/Bisnis-Oct 15, 2024
Almost 500 people have submitted applications for the so-called “golden visa” since the special permit was launched in July, Director General of Immigration Silmy Karim revealed. Applications under the program have been received since Aug. 30, 2023, when the golden visa policy was introduced through Law and Human Rights Ministry Regulation No. 22/2023. Silmy said at the program’s formal launch event held on July 25 this year that 300 foreign nationals had already received a golden visa at that time and that the government had secured at least Rp 2 trillion (US$128.3 million) worth of investment from those applicants. The program particularly invites high-net-worth individuals, global talent and the diaspora of ex-Indonesian citizens to pour money into the country or contribute their expertise in exchange for longer permits that allow them to stay in the country for five or 10 years. Individual investors can set up a company worth $2.5 million to get a golden visa for five years or $5 million for a 10-year one. Corporate investors, meanwhile, are required to invest $25 million to get five-year visas for their directors and commissioners or $50 million to gain 10-year permits. The five-year golden visa requires funds totaling $350,000, while the 10-year one requires $700,000. Silmy said the government was mainly targeting investors from the 10 countries with the largest investment in Indonesia, such as Singapore, China, the United States and Japan. Read more at: https://www.thejakartapost.com/business/2024/10/15/nearly-500-golden-visa-applications-since-launch-immigration-office-says.html.
