Indonesia's Golden Visa Attracts Over $500 Million in 2024

The Indonesian government has revealed that the Immigration and Correctional Affairs Ministry issued 471 Golden Visas between July and December 2024, generating a remarkable Rp 9 trillion ($558 million) in investments.

The Indonesia Golden Visa program offers foreign investors long-term residence permits of five to ten years, provided they make significant financial contributions to Indonesia’s economy.

Indonesia Investor Visa Requirements

To be eligible for the Golden Visa, investors must meet one of the following criteria:

• Invest at least $350,000 in government bonds, bank deposits, or public company shares.
• Contribute a minimum of $2.5 million to establish a company in Indonesia.

The average investment value per application currently stands at $1.2 million. However, the government has not disclosed a detailed breakdown of applications based on investment asset classes.

Golden Visa Approval Trends and Challenges

The Indonesia Golden Visa Program achieved an impressive average monthly approval rate of over 100 applications, exceeding initial industry expectations when the initiative was introduced.

Despite this strong start, meeting the government’s annual target of 1,000 visas may prove challenging at this stage.

This early success highlights the program's appeal to global investors, but the ambitious annual goal suggests that further measures might be needed to sustain and enhance application rates.