This Asian nation has launched the “Golden Visa” to entice foreigners and business investors

In an effort to strengthen its national economy, Indonesia is implementing a golden visa program to entice individual and corporate investors from abroad, according to a statement released on Sunday by the ministry of law and human rights.

Director General of Immigration Silmy Karim said in the statement that “the golden visa is granting a residence permit for an extended period of five to ten years.”

Individual investors must establish a firm worth $2.5 million for the five-year visa, while a $5 million investment is necessary for the ten-year visa.

Similar golden visas for investors have been proposed by several nations throughout the globe, including the United States, Ireland, New Zealand, and Spain, in an effort to entice money and enterprising citizens.

For five-year visas for directors and commissioners, corporate investors must contribute $25 million. In order to get a 10-year visa, they must spend twice as much, or $50 million.

Individual foreign investors who don’t intend to create a corporation in the Southeast Asian nation are subject to different rules. The required amount of money that may be utilized to buy Indonesian government bonds ranges from $350,000 to $700,000.

Golden visa holders no longer need to apply for permits once they are in Indonesia, according to Silmy Karim.

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