Director General of Immigration at the Law and Human Rights Ministry, Silmy Karim said during the “Golden Visa Towards Golden Indonesia 2045” webinar on Thursday (29/8/24,) that the newly introduced Golden Visa has already attracted investment to the tune of IDR 4 trillion, or around USD 259.4 million, into the country, with the number of applicants approaching 500 since its launch on July 25, 2024, according to reporting from Antara News.
Silmy said that most Golden Visa applicants are parking their investments in the banking sector in the form of savings and bonds, which are instruments to invest in the capital market or government bonds.
“Apart from that, there are also many (applications) for second home visas,” he added.
He said that the Golden Visa is an effort by the Immigration Directorate to support the national economy by allowing foreign investors to live in Indonesia for a period of 5 to 10 years.
Investors who wish to apply for a Golden Visa need to meet a number of requirements. For example, individual investors need to invest around USD 350,000 to USD 700,000, says Antara News, adding that high-ranking investors such as members of boards of directors or holding company representatives need to invest in the range of USD 25 million to USD 50 million.
“Immigration is not only limited to conducting inspections at airports or seaports or only related to ordinary visit visas. Immigration also has a role to benefit people,” Silmy said.
The Golden Visa was launched by President Joko Widodo (Jokowi) on July 25. In addition to international investors and business players, foreign tourists who meet the criteria as well as global talents can also apply for the visa, says Antara News.
National football team coach Shin Tae-yong is one of the Golden Visa recipients under the global talent category.
Source: Antara News
Stock photo by Afif Ramdhasuma on Unsplash
