Everything you need to know about Indonesia’s new Golden Visa

Indonesia’s Golden Visa programme will sure to attract more visitors to the country. Here’s your chance to invest in Indonesia and enjoy a long-term stay.

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.

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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 (approximately THB 89.72 million) for a 5-year visa and USD 5 million (approximately THB 179 million) for ten-year validity.
• Purchase a minimum of USD 350,000  (approximately THB 12,560,800) of government bonds, public companies or mutual funds for a five-year visa.
• Invest a minimum of USD 700,000 (approximately THB 25,121,600) in government bonds, public companies or mutual funds for a ten-year visa.
• Buy property worth USD 1 million (approximately THB 35 million) for a five to ten-year visa.
• Open an established company in Indonesia with an investment of USD 25 million (approximately THB 897 million) for a five-year validity and USD 50 million (approximately THB 17,94,400,000) for a ten-year visa.
• Create an account at a state-owned bank and save funds worth USD 130,000 (approximately THB 46,65,440) for five-year validity.
• Investment in Indonesia’s new capital city, Nusantara on Borneo Island, will cost USD 5 million (approximately THB 179 million) for five years and USD 10 million (approximately THB 358 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 (approximately THB 12,56,080) in government bonds, public companies or mutual funds for five-year validity.
• Their first/second-degree descendants with the investment of USD 50,000 (approximately THB 17,94,400) 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 (approximately THB 17,94,400) 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 (THB 44,14,224,000) 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.)

This story first appeared on Travel + Leisure Thailand..