10 Countries Whose Citizens Eligible for Indonesia's Golden Visa

TEMPO.CO, Jakarta - President Joko "Jokowi" Widodo introduced the Golden Visa to facilitate foreign investment and talent acquisition easily in Indonesia. Emphasizing selectivity, the president said that the visas are only for those who contribute positively to the nation. 

“We must not allow individuals who threaten national security or offer no benefits to the country,” he stated during the Golden Visa launch at the Ritz Carlton Hotel, Jakarta, on July 25, 2024.

Officially ratified on August 30, 2023, the Golden Visa policy is outlined in the Ministerial Regulations No. 22 of 2023 and No. 82 of 2023, issued by the Law and Human Rights Ministry and the Finance Ministry, respectively. Holders of this visa are eligible for a five to ten-year residency permit.

Prioritized Countries for Golden Visa

The Indonesian government has not implemented the Golden Visa for all countries thus far. Initially, the Ministry of Law and Human Rights prioritized only 10 countries for Golden Visa issuance based on their investment contributions to Indonesia. 

These countries are:

1. Singapore

2. Japan

3. China

4. South Korea

5. Netherlands

6. United States

7. England

8. France

9. Germany

10. United Arab Emirates.

To qualify for a Golden Visa, foreign individuals or corporations must meet specific investment criteria. Individual investors can obtain a five-year visa with a US$2.5 million investment or around Rp38 billion or a ten-year visa with a US$5 million or around Rp76 billion investment. Corporate investors can secure five-year visas for directors and commissioners with a US$25 million investment or around Rp380 billion or ten-year visas with a US$50 million investment.

Those not establishing companies in Indonesia can qualify by depositing US$350,000 or around Rp5.3 billion for a five-year visa or US$700,000 or around Rp10.6 billion for a ten-year visa in Indonesian government bonds, public company shares, or savings accounts.

Jokowi hoped that the Golden Visa could attract investors and global talents to Indonesia. Since its pilot launch, the Golden Visa program has attracted 300 recipients, generating Rp2 trillion in investment. One of them is the Indonesian National Team football coach, Shin Tae Yong.

DANIEL A. FAJRI | HENDRIK KHOIRUL MUHID

Editor's Choice: Jokowi's Golden Visa Could Pose Risk to Indonesia's Fiscal and Macroeconomic Conditions: Observer

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