Indonesia has launched the golden visa initiative as it seeks to increase investments in the country.
The golden visa is available in nine categories and aims to attract high-net-worth individuals, global talents, and descendants of Indonesia’s diaspora.
The nine categories for the golden visa are:
- Corporate entities investing in Indonesia
- Former Indonesian citizens
- Descendants of former Indonesian citizens
- Global professionals and experts
- Retirees
- Public figures
- Individual investors not looking to start a business in Indonesia
- Second-home seekers
- Individual investors planning to set up a business in Indonesia
We look at the requirements for each golden visa category.
Corporate entities investing in Indonesia
Corporate investors are eligible for a 5 or 10-year golden visa. This category is for the directors or commissioners of the foreign company.
If the business invests US$25 million in Indonesia, its directors and commissioners will receive a 5-year golden visa. If the business invests US$50 million, then they will receive the 10-year visa.
Former Indonesian citizens
Former Indonesian citizens are eligible for a 5-year golden visa.
To apply, they must purchase government bonds worth US$35,000, shares worth US$35,000 in a local public company, or mutual funds of a local public company worth US$35,000.
They must also have proof of funds to cover monthly living costs of US$2,000.
Descendants of former Indonesian citizens
This golden visa category is for the descendants of former Indonesian citizens and is valid for 5 or 10 years.
To apply, they must purchase government bonds worth US$50,000, shares worth US$50,000 in a local public company, or mutual funds of a local public company worth US$50,000.
Global professionals and experts
This category is aimed at attracting global talent to Indonesia. The individual must show proof of their sponsorship from the central government to qualify.
The visa length is 5 or 10 years.
Retirees
Retirees (above 60 years) who wish to live in Indonesia can do so through a 5-year golden visa. The applicant must deposit at least US$50,000 in a state-owned bank under their name.
The applicant must also have proof of funds to cover monthly living costs of US$3,000.
Public figures
This category is reserved for public figures who have made significant contributions in their fields of expertise. To qualify, the individual must show proof of their sponsorship from the central government or a state institution.
The individual must have proof of funds to cover monthly living costs of US$5,000.
Individual investors planning to set up a business in Indonesia
Individual investors planning to set up a business in Indonesia can apply for a 5 or 10-year golden visa.
To apply, they need to show proof of ownership of a business outside of Indonesia with a minimum 20 percent share. The business should have a turnover of at least US$25 million to qualify for the 5-year visa and US$10 million for the 10-year visa.
In addition, another requirement is the amount of capital invested in Indonesia. For the 5-year visa, this must be at least US$2.5 million, and US$5 million for the 10-year visa.
Finally, the individual must have proof of funds to cover living costs of a minimum of US$5,000 per month.
Second-home seekers
This golden visa category is for individuals looking to stay in Indonesia long-term without the intention of working or establishing a business. The visa is valid for 5 years.
The applicant can either purchase a property worth at least US$1 million or deposit US$130,000 in a state-owned bank under their name to qualify for this visa category.
Individual investors not looking to start a business in Indonesia
Individual investors not seeking to start a business in Indonesia can qualify for a 5 or 10-year golden visa.
For the 5-year visa, they must purchase Indonesian government bonds worth at least US$350,000, shares worth US$350,000 in a local public company, or mutual funds of a local public company worth US$350,000.
For the 10-year visa, they must purchase Indonesian government bonds worth at least US$350,000, shares worth US$700,000 in a local public company, or mutual funds of a local public company worth US$700,000.
If you want to know more about applying for an Indonesian golden visa, email our attorneys at Jarji Zaidan & Partners. We are also available on WhatsApp +62 821-9000-3273 / +62 813-1403-8907.
Disclaimer:
This article is not a source of law, and is only an opinion and is not binding on any party, and this article is in accordance with the laws and regulations in force on the date this article was published.
