Indonesia officially introduced the Golden Visa program in July 2024, creating an unprecedented opportunity for investors, entrepreneurs, and professionals from abroad to obtain permanent residency. The scheme aims to attract significant foreign capital and skilled personnel critical to fuel economic expansion, making it a game-changer.
President Jokowi personally awarded Shin Tae-yong the prestigious Golden Visa. This recognition highlights Shin Tae-yong's significant contributions to Indonesian football as the national team's head coach. The Golden Visa is a special honor in Indonesia, offering long-term residency privileges, and is given to individuals who bring substantial benefits to the country.
Eligibility and Requirements.
Individual investors establishing a company:
Five-year stay: Investment of US$2.5 million (approximately Rp38 billion).
Ten-year stay: Investment of $5 million (approximately Rp76 billion).
Corporate investors:
Five-year stay: Investment of US$25 million (approximately Rp380 billion).
Ten-year Stay: Investment of $50 million (approximately Rp760 billion).
Individual investors not establishing companies:
Five-year stay: US$350,000 (approximately Rp5.3 billion) invested in government bonds, public company stocks, or savings/deposits.
Ten-year stay: Invest US$700,000 (approximately Rp10.6 billion) in government bonds, public company shares, or savings deposits.
According to Article 190 of Permenkumham Nomor 22 Tahun 2023, holders of the Golden Visa are entitled to various benefits such as:
Extended stay duration refers to longer periods of residency.
Priority immigration processing occurs at designated immigration checkpoints.
Priority services are available at immigration offices and other relevant agencies, based on cooperation agreements.
No additional recommendations are needed for residency permits from other ministries or agencies such as BKPM.
The visa also provides several economic benefits, including streamlined immigration processes, potential tax incentives, and increased investment opportunities in Indonesia.
Although the simplicity of immigration is attractive, potential investors will also take into account financial benefits like tax breaks. If there are no significant incentives provided, investors may favor countries with more extensive financial markets such as Singapore.
The government has a visionary plan to ensure the well-being of its citizens. Through implementing policies that promote economic growth, sustainability, and social progress, they aim to create an inclusive society where everyone thrives. To achieve this vision, the government will prioritize investing in education and healthcare systems while also promoting innovation through research grants for scientists and entrepreneurs. Moreover, efforts are being made towards modernizing infrastructure such as transportation networks to facilitate easier access across different regions within our country. These initiatives represent only some examples of how the Government is working tirelessly toward ensuring better lives for all people living under their jurisdiction - with steadfast conviction that success comes by embracing challenges head-on!
The Indonesian government aims to attract 10,000 foreign nationals through this program by targeting countries such as Singapore, Japan, China, South Korea, the Netherlands, the United States of America (USA), the United Kingdom (UK), France Germany, and UAE.
Vidhi Law Office, equipped with a dedicated visa consultant on-site, offers extensive legal assistance to Golden Visa applicants. We aid clients in maneuvering through the application procedure while ensuring compliance with Indonesian laws and optimizing investment strategies for maximum benefits.
The Golden Visa program is a strategic move by Indonesia to boost its economy by attracting foreign capital and expertise. Vidhi Law Office offers expert legal assistance, ensuring a smooth transition and compliance with Indonesian laws. For more information or to initiate your application process, contact Vidhi Law Office today.
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