Indonesian Golden Visa

by admin on September 12, 2024

What is a Golden Visa?

A Golden Visa is a visa given to investors as a basis for granting a residence permit for a period of 5 to 10 years, in order to support the national economy.

The policy regarding the Indonesian golden visa is stated in the Regulation of the Minister of Law and Human Rights (Permenkumham) Number 22 of 2023 concerning Visas and Residence Permits and the Regulation of the Minister of Finance Number 82 of 2023 which was promulgated on August 30, 2023 concerning the Costs.

According to Article 184 of Permenkumham Number 22 of 2023, a golden visa is a grouping of limited stay visas, limited stay permits, permanent stay permits, and re-entry permits for a certain period of time.

Furthermore, Article 185 paragraph 1 states that limited stay visas, limited stay permits, permanent stay permits and re-entry permits are given to carry out investment activities, family reunification, repatriation, and second homes, which are valid for a maximum period of 5 to 10 years.

Purpose and Objectives

The purpose of implementing the golden visa policy is to support the improvement of the national economy in Indonesia through the participation of quality foreign investors.

Meanwhile, the Golden Visa Policy aims to:

1. Provide convenience to prospective investors who want to invest in Indonesia in terms of residence permits.
2. Attract quality investors through the policy requirements in the golden visa rules that cover both corporate and individual investors.
3. Reduce bureaucracy for investors when they want to enter and exit Indonesia.

Terms and Conditions for Submission (Fulfillment of Commitments)

The golden visa can be obtained by those who want to invest with a number of terms and conditions or called Fulfillment of Commitments as follows:

1. To be able to live in Indonesia for 5 (five) years, foreign individual investors who will establish a company in Indonesia are required to invest US$ 2,500,000 (around Rp. 38 billion).
2. For a 10 (ten) year stay for individual investors, the required investment value is US$ 5,000,000 (around Rp. 76 billion).
3. Meanwhile, for corporate investors who form a company in Indonesia and invest US$ 25,000,000 or around Rp. 380 billion will receive a golden visa with a stay period of 5 (five) years for directors and commissioners.
4. Meanwhile, for corporate investors with an investment value of US$ 50,000,000 will be given a stay period of 10 (ten) years.
5. Different provisions apply to individual foreign investors who do not intend to establish a company in Indonesia. For a 5 (five) year golden visa, applicants are required to place funds worth US$ 350,000 (around Rp. 5.3 billion) which can be used to buy Indonesian government bonds, shares of public companies or placement of savings/deposits.
6. Meanwhile, for a 10 (ten) year golden visa, the funds that must be placed are US$ 700,000 (around Rp. 10.6 billion).

It should also be noted that because the target is qualified crossers, the requirements are indeed more stringent. The longer you stay in Indonesia, the higher the value of the guarantee, especially for investment activities which can be up to around IDR 760 billion.

Application Fee

In PMK Number 82 of 2023 concerning Types and Tariffs for Types of PNBP Urgent Needs for Golden Visa Services Applicable to the Ministry of Law and Human Rights, a number of provisions are stated as follows:

Visa

Multiple-trip visit visa with the following provisions:

• Maximum 5 years = IDR 10 million
• Maximum 10 years = IDR 15 million
• Limited stay visa = IDR 500,000,-

Verification fee for certain purposes

• Visa verification fee for certain purposes category I = IDR 1 million
• Visa verification fee for certain purposes category II = IDR 2 million
• Visa verification fee for certain purposes category III = IDR 8 million

Immigration permit

Limited stay permit with the following provisions:

• Maximum validity period of 5 years = IDR 7 million
• Maximum validity period of 10 years = IDR 12 million

Permanent stay permit with the following provisions:

• Valid for a maximum of 5 years = IDR 7 million
• Valid for a maximum of 10 years = IDR 12 million
• Unlimited period = IDR 15 million

Re-entry permit

• Valid for a maximum of 5 years = IDR 3.5 million
• Valid for a maximum of 10 years = IDR 5 million
• Valid for an unlimited period = IDR 8 million

Permission to leave the territory of Indonesia without returning = IDR 100,000

Other immigration PNBP, namely Reporting changes in civil status and immigration status = IDR 500,000.

Benefits for Foreign Nationals (Benefits)

In Article 190 of Permenkumham Number 22 of 2023, it is stated that golden visa holders are given facilities in the form of at least:

1. Longer period of stay
2. Priority inspection path at Immigration Checkpoints determined by the Minister
3. Priority service at the Immigration Office; or Priority service from related agencies, ministries/institutions, based on cooperation agreements
4. Does not require recommendations from other Ministries/Institutions (such as BKPM) related to residence permits

Golden Visa Application Mechanism

The Golden Visa application mechanism can be conveyed as follows:

1. Applicants submit a Visa application through the Molina application and complete the requested requirements
2. After the Visa is issued and the Immigration examination, and then the issuance of an electronic residence permit (sent to email) and both types of services Visa + residence permit are given at the Airport
3. Within a maximum period of 90 days after the ITAS is issued, prospective investors must fulfill the commitments as explained above
4. Applicants report Proof of fulfillment of commitments to the Nearest Immigration Office for verification by Immigration.

If declared valid and complete, then the applicant can take the ITAS Golden Visa Card issued by Immigration.

More details can be seen in the image below.