All the information you want on the new Golden Visa program in Indonesia

The Golden Visa initiative in Indonesia is expected to increase tourism to the nation. This is your opportunity to make long-term investments in Indonesia. Everything there is to know about the new Golden Visa program in Indonesia

Indonesia has launched a new “Golden Visa” programme to attract foreign investment and skilled professionals. The long-term visa offers applicants multiple benefits, including extended stays in this Southeast Asian country, with diverse investment options ranging from purchasing government bonds or property to starting a company.

The duration of Indonesia’s Golden Visa — five and ten years — will be based on the investment made.

All you need to know about Indonesia’s Golden Visa

President Joko Widodo officially launched the Golden Visa on July 25, inviting people to invest in Indonesia through funds or talent in exchange for a more extended stay in the country.

Types of investments

• Establish a new company worth USD 2.5 million for a 5-year visa and USD 5 million for ten-year validity.
• Purchase a minimum of USD 350,000 of government bonds, public companies or mutual funds for a five-year visa.
• Invest a minimum of USD 700,000 in government bonds, public companies or mutual funds for a ten-year visa.
• Buy property worth USD 1 million for a five to ten-year visa.
• Open an established company in Indonesia with an investment of USD 25 million for a five-year validity and USD 50 million for a ten-year visa.
• Create an account at a state-owned bank and save funds worth USD 130,000 for five-year validity.
• Investment in Indonesia’s new capital city, Nusantara on Borneo Island, will cost USD 5 million for five years and USD 10 million for ten years.

Besides these investments, people with the following criteria are also eligible for the visa:

• Ex-Indonesians with an investment of USD 35,000 in government bonds, public companies or mutual funds for five-year validity.
• Their first/second-degree descendants with the investment of USD 50,000 in government bonds, public companies or mutual funds for five to ten-year validity.
• Talented individuals invited by the government, people with evidence of the field of expertise required by Indonesia or graduates of the world’s 100 best universities in the last year with an average grade point of 3.5 or equivalent.
• Senior citizens with a minimum of USD 50,000 in a state-owned bank.

Silmy Karim, the chief of the immigration agency, shared that over 300 golden visas were granted during the testing phase, bringing in USD 123 million in investment. Furthermore, Indonesia has plans to grant special status to people of Indonesian descent, inspired by the Overseas Citizenship of India, reported Reuters.

Learn more about Indonesia’s Golden visa process here.

(All currency conversions were done at the time of writing.)

(Main and Featured Image Credit: Jason Cooper/Unsplash)

This story first appeared on Travel + Leisure Thailand.