Buildings in Jakarta, Indonesia, June 5, 2024. Photo by AFP
Investment in Indonesia’s golden visa programme has reached 9 trillion IDR (US$558 million) since it was launched in July, according to the Directorate General of Immigration at the country’s Immigration and Corrections Ministry.
Director of Residence Permits and Immigration Status Jaya Saputra said the country issued 5.16 million visas between January and Dec. 15, with 89% of these being visa on arrival and other categories including 420,000 single-entry visas, 43,000 multiple-entry visas, and 62,000 limited-stay visas.
By mid-December, non-tax state revenue from visa services had reached 8.58 trillion IDR, surpassing the 2024 target of 6 trillion IDR by 43%.
Launched by President Joko Widodo on July 25, the golden visa programme aims to attract international investment and talent. The visa is available in several categories, including for individual and corporate investors, former Indonesian citizens, descendants of former citizens, global talent, and prominent figures.
The programme offers residency for up to 10 years. Individual investors who invest at least $2.5 million and establish a company are eligible for a 5-year residency. If their investment reaches $5 million, they can stay for 10 years. Investors who choose not to establish a company can still qualify by investing at least $350,000 for a 5-year residency or $700,000 for a 10-year stay.
Corporate investors must set up a company in Indonesia and invest at least $25 million for a 5-year residency, with those investing over $50 million eligible for a 10-year stay. The larger the investment, the longer the residency period.
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