Indonesia launches ‘Golden Visa’ to lure foreign investors, boost economy
25/7/2024 18:30
Indonesia launched a long-term visa scheme on Thursday intended to attract foreign investors, President Joko Widodo said, with amounts of up to $10 million giving them a 10-year visa and access to Southeast Asia's largest economy.
The five-year "Golden Visa" requires individual investors to set up a company worth $2.5 million, while a 10-year visa requires a $5 million investment.
Individuals not looking to set up a company must place $350,000 and $700,000 to gain a 5-year and 10-year permit respectively, and the money can be used to buy Indonesian government bonds, public company stocks, or place deposits.
Corporate investors are required to invest $25 million to get five-year visas for directors and commissioners. They need to invest $50 million to gain a 10-year visa.
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