Indonesia to Release Golden Visa Policy in a Week or Two, Minister Luhut Says
TEMPO.CO, Jakarta - Indonesia's Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan said the Golden Visa policy would likely be issued in one or two weeks. The policy will waive visas for foreign companies or foreigners who invest in Indonesia with a certain value.
Luhut said that his ministry had just discussed the Golden Visa policy with President Joko Widodo and a number of ministers. "I think maybe this can be finished in 1-2 weeks. I'd say one week," Luhut said at the State Palace in Central Jakarta, Tuesday, August 1.
In addition to investments, Luhut said this policy would later target foreigners who have high intellectuals, including researchers from world's leading universities. He said that the Golden Visa could also be given to artificial intelligence or AI developers.
The Director General of Immigration, Silmy Karim, said that this policy would later benefit the Indonesian government. Because apart from granting visas which are very selective, companies wishing to obtain a Golden Visa must make a real investment of at least US$50 million dollars. Meanwhile for individuals, the investment value in government bonds is at least US$350,000.
"They have to make a real investment, not just on paper, not just a notary's deed. We will monitor the amount and also the activities," Silmy said.
Eligible applicants can get a multi-entry visa that is valid for five to 10 years. Later, they can conduct business and other activities in Indonesia.
Slimy added that the Golden Visa policy is also one of the government's ways to screen qualified individuals from overseas entering Indonesia.
"Many countries have had success with issuing Golden Visas, such as the UAE, Singapore, then several European countries, and the United States. Indonesia needs to implement this policy," Silmy said.
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