Jakarta Globe is reporting that the Indonesian government has set a goal of attracting a minimum of one-thousand individual investors through the introduction of the ‘golden visa’ program, granting an extended stay permit in the country.
Immigration Director-General Silmy Karim said on Sunday (28/1/24,) that his office is in the process of formulating supporting regulations to implement the golden visa policy, with the aim of reaching the target by the end of the year.
“Many existing investors have expressed interest in applying for the golden visa, so we need new regulations to transition their stay permits. Once these regulations are issued, achieving the target will be much more feasible,” Silmy said.
The golden visa program allows investors to stay in Indonesia for a period ranging from five to ten years, depending on the amount of their investments in the country, says Jakarta Globe.
Individual investors planning to establish a company in Indonesia with an investment of at least USD 2.5-million are eligible for a five-year stay. This stay period is extended to ten years if the investment exceeds USD 5-million.
For corporate investments of USD 25-million, directors and commissioners are entitled to a five-year stay permit, while doubling the investment amount will secure a ten-year stay permit, reports Jakarta Globe, adding that the golden visa privilege also applies to individual investors who invest between USD 350,000 and USD 700,000, earning them a stay permit ranging from five to ten years.
Source: Jakarta Globe
Stock image by jacqueline macou from Pixabay
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