July 25, 20242 yr From The Thaiger Indonesia has introduced a long-term visa scheme aimed at attracting rich, “good-quality” foreign investors, President Joko Widodo announced. The new Golden Visa offers a 10-year residency permit to those rich enough to invest up to US$10 million in Southeast Asia’s largest economy. The scheme includes a five-year visa option, requiring an individual to set up a company worth US$2.5 million, while a 10-year visa needs a US$5 million investment. For those not establishing a company, a five-year permit can be obtained with a US$350,000 investment and a 10-year permit with US$700,000. These funds can be allocated towards Indonesian government bonds, public company stocks, or deposits. Corporate investors are also catered for under this scheme. An investment of US$25 million allows companies to secure five-year visas for directors and commissioners, while a US$50 million investment grants a 10-year visa. Incentives are further enhanced for investments in Indonesia’s new US$32 billion capital city, currently under construction in Borneo. Here, a US$5 million investment provides a five-year visa, and a US$10 million investment secures a 10-year visa, according to the immigration agency.
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