Indonesia is rolling out an exciting new initiative to lure international investors and talent: the golden visa program. This move, unveiled by President Joko Widodo on July 25, 2024, at The Ritz-Carlton Jakarta, marks a significant step towards enhancing the country’s investment landscape and global appeal.
Speaking to reporters after the grand launch, Jokowi highlighted the dual objectives of the golden visa scheme. “This program aims to streamline our services for both investors and global talent, providing them the opportunity to come to Indonesia with the advantages of a golden visa,” he said.
The golden visa initiative is tailored to two main categories:
- Individual Investors who make a minimum investment of USD 350,000.
- Corporations or Companies that contribute at least USD 25 million in capital.
Jokowi emphasized the government’s intent to increase the flow of foreign money into the country and attract skilled individuals. “We are eager to see more investments and an enthusiastic influx of global talent who can make valuable contributions here,” he added.
He also stressed the need for a thorough selection process. “All applicants must be scrutinized rigorously to ensure that we derive the greatest benefit for our nation,” Jokowi noted.
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The Golden Visa, as defined by the Organization for Economic Co-operation and Development (OECD), is a residency-by-investment and citizenship-by-investment scheme. This policy allows countries to offer residency or citizenship in exchange for significant financial contributions, aiming to attract high-value investments and talented individuals.
Holders of Indonesia’s Golden Visa will enjoy a range of exclusive benefits, such as expedited visa and immigration processes, multiple-entry privileges, extended stay durations, property ownership rights, and a fast track to citizenship. These perks are designed to position Indonesia as an attractive destination for foreign investment.
The golden visa scheme is expected to draw substantial foreign investment across various sectors, including investment funds, government bonds, corporate shares, and real estate. This approach, already implemented in several countries, is anticipated to boost Indonesia’s economic prospects and global standing.
