Indonesia is gearing up to introduce its own Golden Visa initiative by the close of 2023, with the objective of revising its immigration policy to entice foreign investments and foster international entrepreneurial talent. Sandiaga Uno, the Indonesian Minister for Tourism and Creative Economies, unveiled plans for the Golden Visa during a press conference.
The initiative’s core objective is to encourage foreign visitors to invest in the nation and extend their stays. Originally slated for a June 2023 launch, the program now aims to roll out before the conclusion of the third quarter. This decision follows Indonesia’s introduction of a “second home visa” spanning five and ten years, primarily targeting individuals with substantial financial assets. Indonesia is joining the ranks of other countries such as Costa Rica and Mexico in leveraging extended stay visas to attract professionals and affluent individuals.
What’s the primary goal of Indonesia’s Golden Visa program?
The main objective of Indonesia’s Golden Visa program is to boost foreign investment and attract global entrepreneurial and business talent through an appealing residency-by-investment option.
How does the Golden Visa program entice foreign tourists to invest in Indonesia? The Golden Visa program presents a compelling opportunity for foreign tourists to invest and extend their stays in Indonesia, thereby making a positive contribution to the nation’s economy.
What was the initial planned launch date for the Golden Visa program?
Initially slated for a June 2023 release, the Golden Visa program now aims to be introduced before the conclusion of the third quarter.
What other visa initiatives has Indonesia introduced recently to attract foreigners? Indonesia has introduced a “second home visa” valid for five and ten years, targeted at individuals with at least 2 billion rupiah ($130,000) in their bank accounts. This initiative economically incentivizes foreigners to contribute to the nation’s economy.
How does Indonesia’s Golden Visa program compare to similar initiatives in other countries?
Indonesia follows the footsteps of nations like Costa Rica and Mexico, which offer extended stay visas to entice professionals, retirees, and affluent individuals. This trend underscores a global movement toward attracting economic resources and talent.
