Last Updated on 18 September 2023 by Brittany
On August 30, 2023, the new Indonesia golden visa investment program was announced, allowing investors to live in the country for up to ten years.
Indonesia has been a popular destination amongst remote workers and vacationers, but the country is now interested in attracting new foreign investments in exchange for long-term residency.
Henceforth, the Indonesia Golden Visa was launched.
Indonesia’s visa and immigration processes have often been complicated. Many nationalities are granted a 30-day visa on arrival when they enter the country, which may or may not be renewable.
The long-term residency offered by the Indonesia golden visa is a huge game changer for foreigners who wish to reside in the beautiful Southeast Asian country.
Indonesia has already granted its first golden visa to Sam Altman, the CEO of OpenAI in hopes of attracting more AI innovation to the area.
What is a Golden Visa?
A golden visa is an investment opportunity that offers long-term or permanent residency and even citizenship in a foreign country.
Golden visas attract foreign investments, whether in business, bonds, real estate, or funds, and offers the investor the right to reside in the country.
The outcome of each golden visa varies depending on the country. In some cases, you may receive a second passport immediately, while others allow you to permanently reside in the country before applying for citizenship.
Either way, a golden visa is a great opportunity to diversify both your assets and lifestyle.
Benefits of the Indonesia Golden Visa
There are many benefits to obtaining the Indonesia golden visa.
As mentioned previously, it can be difficult to find a visa option to stay long-term in Indonesia. With the Indonesia golden visa, investors can live in the country for five to ten years, depending on their qualifying investment.
We are unaware if the Indonesia golden visa is renewable or can lead to permanent residency or citizenship.
The Indonesia golden visa allows applicants to include family members on their applications. So, they may bring their spouses and children to live in Indonesia and experience the same benefits as the main applicant.
Multiple Entry Allowance
With the Indonesia golden visa, holders will experience streamlined processes when entering and leaving the country.
They will get to bypass the ITAS (Temporary Stay Permit) process at the immigration office when they return to Indonesia.
Depending on the nature of your investment to obtain the Indonesia golden visa, you may experience a return on your investment.
So, not only will you have the privilege to live in Indonesia long-term, but you could earn a profit from your qualifying investment to obtain the golden visa.
Indonesia Golden Visa Investment Requirements
There are three investment categories that qualify for the Indonesia golden visa. The amount of investment will also determine the length of the residence permit.
For individuals who would like to invest in Indonesia in exchange for residency without opening a company.
For a five-year residency, individual investors must allocate at least $350,000 USD or 5.3 billion IDR in government bonds, stocks, or held in a local savings account.
For a ten-year residency, individual investors must allocate at least $700,000 USD or 10.6 billion IDR in government bonds, stocks, or held in a local savings account. They may also purchase real estate worth $1 million USD to qualify.
For entrepreneurs who would like to establish a company in Indonesia in exchange for the golden visa, they may invest the following.
For the five-year residency, entrepreneurs must invest at least $2.5 million USD or 38 billion IDR in the company.
For the ten-year residency, entrepreneurs must invest at least $5 million USD or 76 billion IDR in establishing the company.
Corporations or directors and commissioners may also obtain the Indonesia golden visa by investing and establishing a business within the country.
For the five-year residency, companies must invest at least $25 million USD or 380 billion IDR.
For the ten-year residency, companies must invest at least $50 million USD or 760 billion IDR.
Indonesia Golden Visa Eligibility Requirements
The eligibility requirements for the Indonesia golden visa are fairly straightforward.
To be eligible, you must meet the following:
- Be at least 18 years old
- Valid passport with at least six months validity
- Show proof of funds ($5,000 USD in account)
- Have a clean criminal record
Along with making a qualifying investment, you should receive your Indonesia golden visa without a problem.
How to Apply for the Indonesia Golden Visa
The Indonesia golden visa application process can be done entirely online.
Step 1: Decide on Your Investment
Before you begin your Indonesia golden visa application, decide which qualifying investment path is right for your financial goals.
Step 2: Start Your Application
To apply for the Indonesia golden visa, you will use the official website.
Click on “Apply” and answer the questionnaire.
Choose “Golden Visa” and “Investment” as the reason for applying.
Then, you will choose which investment category you will proceed with.
You will find information about the documents you will need and the overall costs of your desired golden visa.
Step 3: Create Account
You will then create an account to begin your application and upload the required documents.
You will need to submit the following documents:
- Copy of passport
- Colored passport photos
- Proof of funds through bank statements
- Declaration of qualifying investment
- Proof of relationship to dependents (if applicable)
These documents may be submitted in English.
Once you complete the visa application, you must pay the visa fee. This may vary depending on the length of the residence permit you’re applying for.
Step 4: Wait for Approval
We are unsure of exactly how long the approval process will take for the Indonesia golden visa. However, most golden visas take three to four months to process.
Step 5: Validate Your Visa
Once you have been granted the Indonesia golden visa, you must use it within 90 days.
Frequently Asked Questions
While articles like this one are very helpful when preparing to apply for the Indonesia golden visa, you may still have some questions about it.
Below are answers to some of the most frequently asked questions about the Indonesia golden visa.
How long can you live in Indonesia with a golden visa?
Depending on your qualifying investment, you may legally live in Indonesia for five or ten years.
Can I bring family members with the Indonesia golden visa?
Yes, you may include your spouse and dependents on your Indonesia golden visa application.
Will I owe taxes in Indonesia with the golden visa?
Yes, if you live in Indonesia for 183 days out of the year or establish a company within the country, you will owe local taxes.
Is the Indonesia golden visa renewable?
We are unaware of renewal options for the Indonesia golden visa.
Should I work with an immigration lawyer to apply for the Indonesia golden visa?
While it is not required to work with an immigration lawyer to apply for the Indonesia golden visa, it is always a good idea to consider.
When applying for a visa – any type of visa – it can be complicated and overwhelming. From reading misinformation online to missing a document while submitting your application, these mistakes can delay the process by months.
When you’re applying for a golden visa that requires a large investment, having a professional immigration lawyer by your side to assist you is a smart way to ensure your chances of approval are increased.
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