President Joko Widodo officially introduced the Golden Visa on July 25th, 2024 at The Ritz-Carlton Mega Kuningan, South Jakarta. Golden Visa will make it easier for foreign nationals (WNA) to invest and work which is expected to have a multiplier effect on the Indonesian economy. This step is one of the government's strategic initiatives to stimulate economic growth by attracting more global investors to Indonesia.
A golden visa is a special type of visa that grants holders extended permission to live, work, and conduct business activities in Indonesia compared to a standard visa. The Golden Visa program offers several advantages, including an extended stay of up to ten years and priority access to immigration services at international airports, facilitating smoother entry and exit from Indonesia. Additionally, Golden Visa holders are exempt from the requirement to obtain a Limited Stay Permit (ITAS) at the immigration office, which saves time and reduces administrative hassle.
The Golden Visa Indonesia program offers multiple categories to cater to the diverse needs and profiles of potential visa holders. One category is for Individual Investors, targeting individuals who make substantial investments in Indonesia's business or property sector. Additionally, the Corporate Investor category is designed for companies or business entities seeking to expand their operations in Indonesia through significant investments. This category provides companies with expedited and simplified access to conduct business within the country.
Beyond individual and corporate investors, Indonesia's Golden Visa program extends to former Indonesian citizens, their descendants, and individuals in categories like second homeowners, global talents, and world leaders. This broad approach not only simplifies the process for foreign investors and professionals to live and work in Indonesia but also actively encourages their contribution to the nation's economic, technological, and cultural growth. By attracting diverse talent and capital, the Golden Visa program aims to accelerate development across various sectors and enhance Indonesia's global competitiveness.
In September 2023, Minister of Investment/Chairman of the Investment Coordinating Board (BKPM) Bahlil Lahadalia, expressed confidence that the Golden Visa program would simplify the investment process for foreign businesses looking to operate in the country.
With the launch of the Golden Visa, Indonesia is ready to embrace a new era in the world of investment, opening new opportunities and enhancing sustainable economic growth. This strategic initiative is anticipated to significantly enhance Indonesia's global competitiveness, driving long-term development and prosperity.
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