Indonesia Launches Golden Visa to Drive Business Investment Attracting 1000 Applicants by the End Of 2024

Indonesia has set an ambitious target of issuing 1,000 golden visas by the end of 2024, as announced by Director General of Immigration Silmy Karim during a recent event in Central Java. Indonesia launches Golden Visa to drive business investment, with the program, officially launched in July 2024 following a successful pilot scheme, already attracting US$123 million in investments and issuing nearly 300 visas.

Categories and Requirements For Indonesia Golden Visa

The golden visa program offers two tiers of long-term residency: five or ten years, with various investment pathways tailored to different applicant profiles. Investment options include:

Bank Deposits:

• Five-year visa: US$350,000
• Ten-year visa: US$700,000

Individual Business Investment:

• Five-year visa: US$2.5 million (requires proof of existing business with US$25 million annual turnover)
• Ten-year visa: US$5 million (requires proof of existing business with US$50 million annual turnover)

Corporate Investment:

• Five-year visa: US$25 million for directors and commissioners
• Ten-year visa: US$50 million for directors and commissioners

The program caters to a diverse range of applicants, including individual and corporate investors, global talents, global figures, second-home owners, and former Indonesian citizens and their descendants.

Benefits for Indonesia Golden Visa Holders

Golden visa holders enjoy premium benefits, including priority immigration services at international airports and exemption from limited stay permit (ITAS) applications at immigration offices. The initiative builds on Indonesia's earlier success with its ten-year digital nomad visa introduced in 2022.

While emphasising ambitious growth targets, Karim stressed that quality remains paramount: "The golden visa should be highly exclusive and must provide benefits for Indonesia."