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Indonesia Targets 1,000 Golden Visa Recipients by End of 2024 · IMI Podcasts

• 0:00
  SPEAKER_00: Indonesia has set a goal of issuing 1,000 golden visas by the end of 2024 to attract foreign investment and boost economic growth.
• 0:08
  SPEAKER_00: The Director General of Immigration, Silmi Karim, revealed the target during an event in Central Java on the 5th of October.
• 0:16
  SPEAKER_00: The Golden Visa Program, which Indonesia officially launched in July 2024 following a pilot scheme it initiated in 2023, aims to streamline the process for foreign nationals to invest and contribute to Indonesia's economy.
• 0:31
  SPEAKER_00: Karim announced that Indonesia had issued nearly 300 golden visas, attracting approximately$123 million in investments since the government launched the pilot program.
• 0:43
  SPEAKER_00: The government's push to reach 1,000 recipients by year end thus would require a significant jump in application volume.
• 0:50
  SPEAKER_00: The program offers long-term residency options of five or 10 years, depending on the level of investment or the applicant's profile.
• 0:58
  SPEAKER_00: This initiative followed Indonesia's introduction of a 10-year visa for wealthy digital nomads in 2022.
• 1:05
  SPEAKER_00: The scheme caters to various categories of applicants, including individual and corporate investors, global talents, global figures, second homeowners, and former Indonesian citizens and their descendants.
• 1:18
  SPEAKER_00: The Golden Visa is open to investors who make a local bank deposit starting from$350,000 for a five-year visa or$700,000 for a 10-year visa.
• 1:29
  SPEAKER_00: The requirements are substantial for individual investors seeking to establish a business in Indonesia.
• 1:35
  SPEAKER_00: Investors must invest a minimum of$2.5 million for a five-year visa, while they must invest$5 million for a 10-year visa.
• 1:44
  SPEAKER_00: Additionally, applicants must demonstrate ownership of a business outside Indonesia with an annual turnover of at least$25 million for the five-year visa or$50 million for the 10-year option.
• 1:56
  SPEAKER_00: Corporate investors can secure golden visas for their directors and commissioners by investing$25 million for a five-year visa or$50 million for a 10-year visa.
• 2:07
  SPEAKER_00: The benefits of the Golden Visa extend beyond mere residency rights.
• 2:12
  SPEAKER_00: Holders enjoy priority access to immigration services at international airports and face reduced bureaucratic hurdles, such as exemption from the need to apply for limited stay permits from immigration offices.
• 2:24
  SPEAKER_00: However, the program is not without its challenges.
• 2:27
  SPEAKER_00: The slow increase in applications and the goal of reaching 1,000 within three months has raised questions about the feasibility of the target.
• 2:35
  SPEAKER_00: Addressing these concerns, Karim reportedly emphasized that the focus is on quality rather than quantity.
• 2:42
  SPEAKER_00: It's not about reaching a large number, as the Golden Visa should be highly exclusive and must provide benefits for Indonesia, he explained.com.
• 2:57
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• 3:03
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