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Indonesia has unveiled its Golden Visa program, offering foreign investors and individuals extended stays and investment opportunities in the nation, Wego reports. Underpinned by a commitment to diversify and invigorate its economy, the Indonesian government’s Golden Visa initiative stands as an inviting gateway to unique prospects. The initiative, governed by Ministerial Regulations 22/2023 and 82/2023, became effective on 30 August 2023.

Silmy Karim, Director General of Immigration at the Ministry of Law and Human Rights, highlighted the program’s goal to attract contributors to Indonesia’s economy. The program grants a 5 to 10-year residence period, promoting enduring economic relationships.

Golden visa beneficiaries are poised to enjoy an array of coveted advantages, including extended stays, seamless entry and exit protocols, and a streamlined process devoid of the need to procure a limited stay permit (ITAS) from immigration authorities.

Investment requirements for a 5-year stay range from USD 2.5 million for individual investors establishing a company, to USD 25 million for corporate investors. A 10-year stay necessitates investments of USD 5 million and USD 50 million respectively.

Individual investors not establishing companies must invest USD 350,000 for a 5-year visa and USD 700,000 for a 10-year visa in Indonesian bonds, shares, or deposits.

The Golden Visa program positions Indonesia as an attractive destination for investment and prolonged stays, fostering economic growth and international collaboration.