Golden Visas

What are the Regulations, Functions, and Requirements of the Indonesian Golden Visa?

Based on the official website of the Indonesian Directorate General of Immigration, the Golden Visa was launched in July 2024.

The presence of this new type of Golden Visa will make a big contribution to the Indonesian economy in the future. Because, the Golden Visa makes it easier for Foreign Citizens to invest and work in Indonesia.

Based on the regulations of the Minister of Law and Human Rights, the Golden Visa is divided into the Golden Visa Investor and the Golden Visa Global Talent.

The following table shows the groups, length of stay, and minimum investment capital for the Indonesian Investor Golden Visa.

The explanation in the table above refers to the Visa E28B Index, E28C Index, E28D Index, and E28F Index. More complete information can be seen on the official website Immigration.go.id.

Meanwhile, the Golden Visa Global Talent is a visa given to Foreign Citizens who have the potential expertise and skills to work with the Indonesian Government. In this case, referring to two indexes, including:

1. Visa E33A Index, namely a limited stay visa for Foreign Citizens invited by the government because of their expertise.
2. Visa E33B Index, namely a limited stay visa for Foreign Citizens who are invited by the government because of their expertise and will collaborate with the government.

Golden Visa Global Talent requires special requirements, including certificates of expertise and graduation from a university. Certificates of expertise must be from a specific field that is needed by Indonesia. Meanwhile, proof of graduation must come from one of the world’s top 100 universities in the last three years, as well as a GPA index of at least 3.5 or equivalent.

There are two legal bases that regulate the Golden Visa, namely:

1. Regulation of the Minister of Law and Human Rights (Permenkumham) Number 22 of 2023 concerning Visas and Residence Permits
2. Minister of Finance Regulation Number 82 of 2023, which was promulgated on August 30, 2023, is the basis for implementing the Golden Visa policy.

The Golden Visa is expected to provide benefits to the country’s economic development by bringing in qualified and skilled Foreign Citizens.

Some of the functions and benefits of the Golden Visa for global investors or talents include:

• Much easier visa application and immigration procedures.
• Fast requirements according to the visa index of each investor or talent’s needs.
• Mobility in carrying out investment activities in work matters is more flexible with a multiple-entries scheme.
• Longer stay period, namely a maximum of 5 years or 10 years.
• Have ownership rights to assets or companies in the Republic of Indonesia.
• Have the right to bring family to Indonesia in accordance with applicable immigration regulations.
• Opening up new opportunities and jobs at lower costs than local human resources.
• Promising long-term business/enterprise/investment development.
• Financial benefits both in establishing new companies and developing overseas subsidiary branches.
• The ease of obtaining Indonesian citizenship is faster and easier.

Meanwhile, the functions and benefits of the Golden Visa for Indonesia include:

• Assisting the government in opening up new opportunities and employment for the community.
• Obtain capital injections from foreign investors to improve the country’s economy and development.
• Realization of more advanced technology transfer to be implemented in Indonesia.
• Strengthening relations between countries in economic affairs in the business sector.

Despite offering several functions and benefits, the Golden Visa policy has received criticism and the potential for massive negative implications. Some of these negative implications include:

• The risk of misuse of residence and business permits by Foreign Citizens.
• Increases the chances of corruption cases.
• Tax evasion.
• Money laundering.
• Dangerous crowd funding.
• Rapid economic fluctuations (boom and bust cycle).
• Foreign investors/talents move assets to other countries.
• It is considered discriminatory because the only parties who have exclusive rights to live, work and invest are Foreign Citizens who have large amounts of money.
• Criticism of selling Indonesian citizenship because Foreign Citizens can obtain citizenship regardless of the principles of jus soli and jus sanguinis.

What are the requirements for the Indonesian Golden Visa?

The general requirements for the Golden Visa as stated in the legal basis of Article 185 of the Minister of Law and Human Rights Regulation Number 22 of 2023, include investors/talents who make investments, family reunification, repatriation, and second homes.

However, each type of Golden Visa Index has specific requirements.

1. General Conditions
– National passport is valid and valid for at least six months;
– Proof of immigration guarantee and proof of having living expenses while in Indonesia;
– Recent color passport photo.

2. Special Conditions
– Letter of commitment to purchase Indonesian government bonds of at least 350,000 USD (for 5 years) and 700,000 USD (for 10 years);
– Letter of commitment to purchase shares in a public company in Indonesia for a minimum of 350,000 USD (for 5 years) and 700,000 USD (for 10 years);
– A statement of commitment to purchase mutual funds from a public company in Indonesia of at least 350,000 USD (for 5 years) and 700,000 USD (for 10 years).

a. General Conditions
– National passport is valid and valid for at least six months;
– Proof of immigration guarantee and proof of having living expenses while in Indonesia;
– Proof of owning shares in a company outside Indonesia;
– Recent color passport photo.

b. Special Conditions
– A statement of commitment that the foreign national will establish a company in Indonesia with issued capital (shares) or an investment value of at least 2,500,000 USD (for 5 years) and 5,000,000 USD (for 10 years).

a. General Conditions
– National passport is valid and valid for at least six months;
– Proof of immigration guarantee and proof of having living expenses while in Indonesia;
– Proof of owning shares in a company outside Indonesia;
– Recent color passport photo.

b. Special Conditions
– A statement of commitment that the foreign national will establish a company in Indonesia with issued capital (shares) or an investment value of at least 25,000,000 USD (for 5 years) and 50,000,000 USD (for 10 years).

If you are an investor or global talent who sees extraordinary investment potential in Indonesia, but are confused about taking care of the Golden Visa administrative permits.

So, allow us from Saga Consulting present as a solution to provide the best visa and immigration administration services. 

You can start with a consultation first, then plan to make an investment according to the applicable Directorate General of Immigration regulations for carrying out the investment.

Applying for a visa at Saga Consulting is an opportunity to gain all the benefits of using the Indonesian Golden Visa in the easiest, fastest, and certainly official way according to the laws and regulations in force in Indonesia.