The highly anticipated Golden Visa program in Indonesia has been officially launched. The first visa has been granted to Shin Tae-Yong, the South Korean coach of the Indonesian national football team. This new visa policy aims to facilitate foreign investment and residency in Indonesia, especially in sought-after regions like Bali. Here’s what this means for property buyers and owners in Bali.
Simplifying investment in Bali with the Golden Visa program
The Golden Visa program is created to simplify the process for foreigners to invest in Indonesia and settle there. This program is especially beneficial for those interested in popular provinces like Bali. The visa provides residency permits spanning from 5 to 10 years, catering to investors, high-wealth individuals, and entrepreneurs aiming to establish businesses in the region. This initiative is expected to draw more foreign capital, thereby boosting the local real estate market and creating new opportunities for property development and ownership in Bali.
The Golden Visa’s high standards and selective criteria
President Joko Widodo stressed that the Golden Visa aims to attract high-quality talent that can make a positive contribution to Indonesia. The selection process is thorough to ensure that only individuals who can provide significant benefits to the country are granted the visa. This careful selection process guarantees that the influx of foreign residents will strengthen Indonesia’s economic growth and improve the quality of investments, especially in regions like Bali. For property buyers, this means a potentially more stable and prosperous market, driven by high-caliber international investors.
During the launch event, Minister of Justice and Human Rights Yasonna Laoly highlighted the optimism and new opportunities that the Golden Visa policy brings for international investors, global talents, and the Indonesian diaspora. The policy aims to provide comfort and certainty for businesspeople and investors, making Bali an even more attractive destination for long-term investment. This initiative is set to enhance the appeal of Bali’s real estate market, promising greater security and potential returns for property investors.
Diverse investment options
The Golden Visa program provides different application routes for foreigners, whether they are investing as individuals or through business corporations. Individual investors must invest IDR 38 billion ($2.47 million) for a five-year visa or IDR 76 billion ($4.94 million) for a ten-year visa. Corporate investors aiming to set up a company in Indonesia must invest IDR 380 billion ($24.7 million) to qualify for a five-year visa for directors and commissioners. In addition, applicants can also qualify by purchasing Indonesian government bonds or company stocks. This flexible range of investment options is likely to attract a diverse group of investors, which will further stimulate Bali’s real estate market.
