Indonesia’s Golden Visa program has become a hot topic in international discussions, attracting attention at the 18th Global Citizenship Conference. With Indonesia poised to become one of the world’s largest economies in the near future, this innovative visa policy has placed the country firmly on the radar of global investors and policymakers.
Deputy Minister of Immigration and Corrections, Silmy Karim, underscored the significance of the Golden Visa during the conference held in Singapore from November 27 to 29, 2024. He explained that the policy is designed to entice high-value investors and global talent. It aims to foster sustainable economic growth in Indonesia.
“The Golden Visa policy is crafted strategically to attract high-caliber investors and global talent to Indonesia. In its formulation, we recognized the importance of making Indonesia more competitive in the global investment landscape while ensuring real benefits for the local economy,” Silmy stated.
“Our dual vision includes positioning Indonesia as a leading foreign investment destination through simplified residence permits and ensuring incoming investments drive sustainable growth, particularly in sectors like technology, tourism, and renewable energy,” he elaborated.
Read also: Jakarta’s Air Quality Hits Rare ‘Good’ Levels for Five Days Straight, What Changed?
The Golden Visa program has been meticulously developed. It blends global best practices with Indonesia’s unique economic needs and national development goals. This initiative aligns with the country’s broader vision for inclusive and sustainable progress, encouraging job creation, knowledge transfer, and infrastructure advancements.
Indonesia’s strong economic fundamentals make it a compelling destination. With an annual growth rate of around 5%, the nation is projected to rank as the 13th largest economy by 2030 and climb to fifth place by 2045. Key sectors such as real estate, IT, and financial services are thriving, supported by robust monetary stability, a massive infrastructure budget of approximately IDR 710 trillion, and a focus on green economic initiatives.
Silmy highlighted Indonesia’s resilience in navigating global challenges while leveraging the potential of micro, small, and medium enterprises (MSMEs) and the digital economy to drive growth and employment.
How the Indonesia’s Golden Visa Works
Foreign investors can apply for the Golden Visa through an online platform at evisa.imigrasi.go.id. The process involves account registration, document uploads, and online payment. Depending on the type and value of the investment, the visa provides residence permits valid for five to ten years.
“For individual investors, the required investment is USD 700,000, while corporate investors must commit at least USD 50 million. The Golden Visa offers significant advantages, including long-term residency, streamlined immigration processes, and access to Indonesia’s dynamic economic opportunities,” Silmy explained.
The Golden Visa in the Spotlight
During the 18th Global Citizenship Conference on Sentosa Island, Silmy presented on Golden Visa: Unlocking Indonesia’s Potential through Investment Migration. The event featured distinguished speakers, including Christian H. Kaelin, Chairman of Henley & Partners; Alex Gray, former President of the UN Security Council; Dickon Mitchell, Prime Minister of Grenada; and representatives from countries like Switzerland, Montenegro, and Greece.
The conference addressed trends in investment migration, regulatory changes, and evolving citizenship concepts. Silmy also spoke at the Indonesia Update event organized by the Indonesian Embassy in Singapore on November 29, 2024.
He revealed that many international participants hope the Golden Visa will go beyond immigration benefits to include incentives like tax breaks and access to essential local services, such as healthcare.
“Immigration will work closely with international stakeholders to increase foreign investment inflows to Indonesia through the Golden Visa facility,” Silmy concluded, emphasizing the government’s commitment to maximizing the program’s impact on Indonesia’s economic landscape.
