Introduces 10-year Golden Visa programme to attract foreign investment

On 2 June 2023, the Government of Indonesia introduced a "golden visa" programme that allows foreigners to stay for up to 10 years, in an effort to attract more foreign investment (Government Regulation Number 40 of 2023). Companies can apply for this visa when they invest at least $50 million in Indonesia, while individuals are required to invest a minimum of $350 thousands in government bonds. The "golden visa" is valid for 5-10 years and allows its holder to conduct business and other activities in Indonesia. Foreigners with golden visa will enjoy exclusive benefits that are not received by visa holders in general, such as easier and faster procedures and requirements for visa applications and immigration matters, mobility with multiple entries, longer stay periods, the right to own assets within the country, and fast-track citizenship application. This initiative follows the "second home visa programme" introduced in October 2022. The new visa policy is expected to take effect by the end of September 2023.

• Type:

  • Treatment and operation (Immigration regulations)
  • Promotion and facilitation (Investment facilitation )

• Industry:

  • Not industry specific

• Sources:

  • lexology, GR 40/2023: Golden Visa and Other Amendments to Indonesian Immigration System, https://www.lexology.com/library/detail.aspx?g=06e97cbe-0dc6-44ad-90ad-ce73d0264d1e, 18 Aug 2023
  • ssek, GR 40/2023: Golden Visa and Other Amendments to Indonesian Immigration System, https://ssek.com/blog/gr-40-2023-golden-visa-and-other-amendments-to-indonesian-immigration-system/, 18 Aug 2023
  • e.vnexpress, Indonesia's 10-year visa set to launch by next month, https://e.vnexpress.net/news/travel/indonesia-s-10-year-visa-set-to-launch-by-next-month-4642423.html, 15 Aug 2023