Indonesia is introducing a ‘golden visa’ program to attract quality, high-net-worth individual and corporate foreign investors.
Under this new visa scheme, foreign investors can receive a resident permit of between five and 10 years, depending on the value of their investment.
Individual investors must establish an Indonesian company worth US$2.5 million to receive the five-year visa or a US$5 million investment for the 10-year visa. Further, individuals who do not wish to establish a local entity can invest at least US$350,000 into shares of a local public company, deposit or savings accounts, or Indonesian government bonds, to be eligible for the five-year visa, or US$700,000 for 10 years.
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Meanwhile, directors and commissioners of businesses can obtain a five-year visa if their company invests at least US$25 million, or US$50 million for the 10-year visa.
Indonesia faces stiff competition from its neighbors in Southeast Asia in attracting wealthy individuals. Many of these regional rivals have already had a head start in some aspects.
