Jakarta Globe are reporting that the government has announced that they would relax the golden visa requirements for investors who are investing in the new capital of Nusantara.
According to immigration director general Silmy Karim, foreign companies who invest at least USD 5-million are now already eligible for a five-year stay permit, an amount much lower than the previous minimum requirement of USD 25-million. The government has also lowered the requirement for the 10-year stay permit from USD 50-million to USD 10-million.
Foreign companies that set up their branch offices or subsidiaries in the new capital, Nusantara are also exempt from turnover (sales value) requirements at their parent companies, says Jakarta Globe.
Investors can apply for a visa with the E28F index online via evisa.imigrasi.go.id.
They also need to attach several documents, among others, a passport with a minimum validity of six months, a passport photo, and a statement of commitment to establish a company in Nusantara with an investment value of at least USD 5-million (for a five-year residency) or at least USD 10-million (for a 10-year residency). “We hope that the influx of foreign investors will spur an economic stimulus for the new capital Nusantara and the surrounding region,” Silmy said on Thursday (1/2/24.)
Indonesia issued 62-golden visas in January 2024, according to Jakarta Globe.
Source: Jakarta Globe
Stock photo by Global Residence Index on Unsplash
