M Julnis Firmansyah, Bali – Indonesian Immigration Director General Silmy Karim confirmed that the Golden Visa policy will be launched this July 2023. The new visa will be entitled to foreign companies and foreign nationals who make investments at a certain amount in the country.
Silmy said the Presidential Regulation as the basis is waiting to be signed. "[We are] now waiting for the signage of the Foreign Affairs Minister, Coordinating Minister for Political, Legal and Security Affairs, and then the President. Hopefully, it will be completed this month. It's just an administrative process," Silmy said in Denpasar, Bali, on Tuesday, July 18, 2023.
The program, he argued, will be beneficial to Indonesia because the visa will be granted selectively. Besides, companies wishing to obtain the visa must put in a real investment of at least US$50 million. Meanwhile, individuals are required to invest in government bonds at a minimum value of US$350,000.
"They have to make a real investment, not on paper, not on just a notarial deed. We will monitor the amount and the activities," said Slimy.
Golden visa is valid for up to 10 years
In this policy, Silmy said that applicants will get multiple visas with a duration of 5-10 years. Visa holders are allowed to carry out business and other activities in Indonesia.
Furthermore, Silmy said this is also one of the government's ways of screening quality foreign tourists into the country. "Many countries have successfully executed Golden Visa, such as the UAE, Singapore, and several European countries. So Indonesia needs to enforce this policy," the Immigration DG concluded.