Indonesia introduces golden visa scheme to attract foreign investors

Indonesia has launched an initiative to draw foreign individual and corporate investors with the introduction of a golden visa scheme, aimed at bolstering the nation’s economy, according to an announcement made by the Ministry of Law and Human Rights.

The director-general of Indonesia’s immigration Silmy Karim explained the new long-term, high-value visa plan.

“The golden visa is granting a residence permit for an extended period of five to 10 years.”

To secure a five-year visa, individual investors are required to establish a company worth US$2.5 million. For a 10-year visa, the requirement doubles to an investment of US$5 million.

This strategy of offering golden visas to investors is not new, with countries including the US, Ireland, New Zealand, and Spain already having similar schemes in place to entice capital and…