Indonesia is launching a “golden visa” meant to attract international business and entrepreneurial talent. The new visa is also meant to attract foreign investment.
Thousands of digital nomads and innovators already call Indonesia’s most famous city – Bali – home. The visa will be offered to specific individuals there.
The “golden visa” is a new class of visa for Indonesia. It is a residency-by-investment type of visa and was to become available in June of 2023.
Policy and administrative changes have delayed the launch of the new visa class. Now, officials expect it to launch by the end of the third quarter.
Indonesian immigration officials want the policies governing the visa to be “watertight.” They are working to balance any negative effects with justice and economic concerns.
There are specific types of businesspeople that Indonesia hopes to attract. According to Minister for Tourism and Creative Economies Sandiaga Uno, the country is looking for people in the digital, research, health, and technology sectors.
The visa will be good for five- and 10-year spans. It will provide benefits that other classes of Indonesian visas do not.
Some of the benefits include multiple entries into Indonesia, the right to own assets there, and the visa’s long validity periods. Citizenship applications may be fast-tracked for those with a golden visa.
There will be a cost for the golden visa, and it may be high. Another Indonesian visa meant for long-term stays requires applicants to show savings of about $130,000 USD. The fee will be set to attract “high-quality” applicants.
Many countries use special visas and fees to attract desired classes of temporary immigrants. Their goals may be to boost foreign spending or to draw certain types of professionals. Common tourist visas are generally much cheaper and more limited in their validity periods. Indonesia’s basic tourist visa is good for 30 days.