Indonesia offers golden visa to lure foreign investors

Indonesia So-called golden visas will be issued, allowing foreigners who make substantial investments to stay for five to 10 years to boost the country’s economy.

Under one rule, individuals who invest $350,000 worth of funds in public company stocks, savings or deposit accounts or government bonds are eligible for five-year residency, or $700,000 for 10-year residency. Press release Indonesian immigration chief Sirmi Karim was quoted on Saturday.

Individuals investing at least $2.5 million to set up a company are also eligible for a five-year visa, and $5 million for a 10-year visa. Directors and commissioners of companies established in the country are eligible for five-year visas if they invest $25 million in their company or $50 million over 10 years, the release said.

“Because we are targeting quality investors, the requirements are more stringent,” Karim said in the release. Golden visa holders are expected to enjoy exclusive benefits of the visa, including not having to apply for a temporary Residence permit.

Last year, the Southeast Asian country launched a Second Home Visa Suitable for wealthy tourists with at least 2 billion rupees ($130,000) in their bank accounts.

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