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Indonesia Simplifies Golden Visa Acquisition With Eased Regulations

Indonesia Simplifies Golden Visa Acquisition With Eased Regulations

JAKARTA – Indonesia’s Directorate General of Immigration has introduced significant changes to its Golden Visa program in a bid to attract foreign investment for the development of the planned capital, Nusantara. The new regulations make it easier for foreign companies to obtain a five-year resident permit, reducing the minimum investment requirement from $25 million to $5 million. Additionally, for investors committing to a decade-long engagement, the capital investment threshold has been lowered from $50 million to $10 million. The move aims to stimulate economic growth not only in the new capital but also in the surrounding regions.

The Golden Visa program has gained traction globally, with 62 visas already issued in the current year. Despite criticism from entities like the European Union, Indonesia’s government believes that easing requirements will entice foreign capital, fostering economic development.

Read more: Kosovo Discusses Visa-Free Pact With Muslim Nation

This decision comes in contrast to Portugal’s recent suspension of its Golden Visa program due to a housing crisis and EU pressure. Indonesia, positioned as the world’s largest archipelago with stunning natural beauty, seeks to leverage its Golden Visa program to attract investment, providing a diverse landscape and cultural richness. Indonesia, with over 15 million tourists annually, features attractions like Bali’s arts scene, Jakarta’s modernity, and Yogyakarta’s historical heritage, showcasing the country’s captivating experiences, from the Borobudur Temple to the unique wildlife in Komodo National Park.