Golden Visa Indonesia is a new residency permit for foreigners who want to stay in Indonesia for five or ten years. The visa needs to be officially launched and will make it easier for foreign investors to reside in the Southeast Asian country. With the introduction of the Golden Visa, Indonesia follows many other countries that already implemented the Golden Visa, such as the United States, Portugal, United Arab Emirates, Ireland, Germany, Italy, and Spain.
What is Golden Visa Indonesia?
The Golden Visa program in Indonesia is a new visa that allows foreigners to stay in Indonesia for five to 10 years if they make substantial investments. The Indonesian government launched the Golden Visa to boost the country’s economy with investments from foreign individuals and corporations. The visa targets foreign individual investors, foreign investors who want to establish a company in Indonesia, and foreigners who are already a director or a commissioner of an Indonesian company.
Requirements of Golden Visa Indonesia
To be eligible for Indonesia’s Golden Visa, there are several requirements. The Golden Visa program is divided into three different groups, each with its own set of requirements. These groups cater to individuals who do not wish to establish a company, those who do, and directors and commissioners of Indonesian companies.
Golden Visa Indonesia investment requirements for individuals who do not intend to establish a company in Indonesia:
- Five-year Golden Visa: Investment of at least IDR 5.3 billion ($333,900) into public company shares, savings or deposit bank accounts, or government bonds.
- Ten-year Golden Visa: Investment of at least IDR 10.6 billion ($667,800) into public company shares, savings or deposit accounts, or government bonds.
Investment requirements for individuals establishing a company in Indonesia:
- Five-year Golden Visa: Investment of at least IDR 38 billion ($2.39 million).
- Ten-year Golden Visa: Investment of at least IDR 76 billion ($4.79 million).
Golden Visa investment requirements for directors and commissioners of Indonesian companies:
- Five-year Golden Visa: Investment of at least IDR 380 billion ($23.94 million)
- Ten-year Golden Visa: Investment of at least IDR 760 billion ($47.88 million)
The foreigner applying for a Golden Visa in Indonesia is required to have a valid passport that will remain valid for at least 36 months at the time of application. Additionally, they must submit a recent colored photograph measuring 4 cm by 6 cm with a white background.
Benefits of Indonesia’s Golden Visa program
Obtaining Indonesia’s Golden Visa ITAS has several benefits for foreigners who wish to receive a long-term temporary residence permit in Indonesia:
- Allowed to stay longer in Indonesia: Foreigners can stay up to ten years without renewing or re-applying for their visa. This is longer than many other visas, such as the Investor KITAS, which allows a foreigner to stay up to two years in Indonesia.
- Ease of leaving and entering Indonesia: With Indonesia’s Golden Visa, foreigners can leave and enter Indonesia anytime without applying for an ITAS or other Indonesian visa at the immigration office.
- Becoming a tax resident in Indonesia: Having a Golden Visa makes it easier to become an Indonesian tax resident, which can provide tax benefits to foreigners.
How to apply for Golden Visa Indonesia?
In July 2024, President Joko Widodo presented the first Golden Visa in Indonesia, marking the launch of the Golden Visa program for foreigners. The application process for the Golden Visa includes:
- Determine eligibility: Verify if you meet the investment or high-skill criteria set by Indonesian authorities.
- Prepare required documents: Gather necessary personal, financial, and business documents.
- Application submission: Submit your application online or in person at the Indonesian embassy, consulate, or immigration office.
- Pay Golden Visa application fees: Pay the non-refundable application processing fees.
- Await processing: Wait for the immigration office to review and verify your application and documents.
- Approval and visa issuance: Receive the Golden Visa and possibly a temporary residency permit upon approval.
- Entry to Indonesia: Travel to Indonesia and present your visa at the port of entry.
- Register with local authorities: Register with local authorities and possibly provide biometrics shortly after arrival.
- Comply with local regulations: Maintain your investment, file taxes, and renew your residency permit as required.
Are you not eligible for a Golden Visa in Indonesia? Don’t worry, foreigners have alternative visa options for long-term stays, such as the Second Home Visa (ITAS) or the Investor KITAS. To obtain an Investor KITAS, you need to establish a PT PMA in Indonesia.
Need help applying for the Golden Visa in Indonesia?
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Frequently Asked Questions (FAQs)
How much does Golden Visa Indonesia cost?
How much the Golden Visa Indonesia will cost is unclear yet.
The Golden Visa in Indonesia costs between IDR 8 million ($504) and IDR 20 million ($1,260), besides the minimum investment amount.
What is the processing time of Indonesia’s Golden Visa?
The processing time of the Golden Visa takes between 2 to 8 weeks.
Is the Golden Visa in Indonesia already launched?
Yes, the Golden Visa program in Indonesia was launched in July 2024.
What are Golden Visa Indonesia alternatives?
Indonesia’s Second Home Visa is a popular alternative to the Golden Visa, allowing foreigners to stay in Indonesia for five or ten years by possessing at least IDR 2 billion ($126,000) in their bank accounts.
Can I buy property in Bali to obtain Indonesia’s Golden Visa?
Foreign individuals who do not wish to establish a company in Indonesia can not buy a house in Bali to obtain Indonesia’s Golden Visa. They must invest at least IDR 5.3 billion ($333,900) into public company shares, savings or deposit accounts, or government bonds to be eligible for a five-year Golden Visa. Foreigners who want to establish a company in Indonesia can buy property in Bali to obtain a Golden Visa in Indonesia if the property is used for business purposes. For that, an investment of at least IDR 38 billion ($2.39 million) is required.
