Indonesia introduces ‘Golden Visas’

Photo: Rizky Maharani/Wikimedia Commons

Indonesia wants to reward foreigners with ‘golden visas’, allowing them to stay in the country for between 5 to 10 years, if they invest funds in national companies. All with the aim of boosting the Indonesian economy.

The idea which has been discussed for a couple of months by the Indonesian government is now going to be realized.

Someone who invests funds worth $350,000 into shares of public companies, savings or deposit accounts or government bonds will get the opportunity for a five-year stay, or 10 years if investing $700,000, according to a press release Saturday citing Indonesia Director General of Immigration Silmy Karim.

The golden visa will also be available to people starting companies within the country. The requirements are to have $2.5 million invested in the company for a five-year visa, and double the amount for a 10-year visa.

The Indonesian government has also been offering investor visas for some time. Investor Kitas is a special residence permit for foreign investors.

Source: Bloomberg

About Sofie Rønnelund

Sofie Roennelund is a journalist working with ScandAsia at the headquarters in Bangkok.

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