Indonesia has thought of something new: the “Golden Visa.” It awards Indonesia’s long-term residence permit in return for large investments from foreign nationals.
How Much Money Do You Need?
1. If you set up a business:
- $2,500,000 for a 5-year visa
- $5,000,000 for a 10-year visa
2. For those who are not interested in starting up a business:
- Put in $350,000, get a 5-year visa
- Put in $700,000, get a 10-year visa
3. For big companies:
- Invest $25 million, bosses get a 5-year visa
- Invest $50 million, bosses get a 10-year visa
Special Deal for New Capital City
Indonesia has prepared to build a new capital city right in the middle of the jungle. Now, investors can buy their way to residency in this country:
- $5 million for a 5-year visa;
- $10 million for a 10-year visa.
Why Does Indonesia Do That?
Indonesian President Joko Widodo claims that it will be easier for foreigners to invest in his country. He hopes that it may bring an improvement in the country’s economy.
So far, around 300 people have received such visas. They have been able to attract $123 million to Indonesia.
What of those of Indonesian stock?
The Government is considering the need for a special dispensation regarding persons whose parents or antecedents hailed from Indonesia. This could allow them to visit, work and stay in Indonesia permanently without necessarily having to acquire Indonesian citizenship.
A few countries operate this type of facility. However, some, such as Canada and Singapore, have done away with these types of programs. They discovered that in terms of job creation, the programs came to nought and could be utilised for money laundering purposes.
