Indonesia targets 1,000 investors via ‘golden visa’ programme

Jakarta - The Indonesian government has set a target of attracting at least 1,000 investors through the “golden visa” programme, part of an effort to attract high-quality talent and capital flows into this Southeast Asian country.

Immigration Director-General Silmy Karim said that his office is in the process of formulating supporting regulations to implement the golden visa policy, and many investors have expressed interests in applying for this type of visa.

The golden visa programme allows investors to stay in Indonesia for 5-10 years, depending on the amount of their investment in the country.

Individual investors planning to establish a company in Indonesia with an investment of at least 2.5 million USD are eligible for a five-year stay. This stay period is extended to ten years if the investment exceeds 5 million USD.

For corporate investments of 25 million USD, directors and commissioners are entitled to a five-year stay permit, while doubling the investment amount will secure a ten-year stay permit.

The golden visa privilege also applies to individual investors who contribute between 350,000 USD and 700,000 USD to a local firm, earning them a stay permit ranging from five to ten years

Previously, at a press conference in Jakarta in May 2023, Tourism and Creative Economy Minister Sandiaga Uno said the above-mentioned visa policy aims to attract more talents in the field of digitalisation, health, research and technology. He affirmed that the policy will make Indonesia a centre for sustainable economic development in the region.

Indonesia's state purchasing agency Bulog has issued an international tender to buy 500,000 tonnes of rice sought for arrival in February and March, with the offer deadline set at January 29.

Indonesia is urgently pursuing a trade agreement with the European Union, according to newswire JakartaPost. This initiative, according to Indonesian Economic Affairs Coordinating Minister Airlangga Hartarto, is largely motivated by the desire to level the playing field with Vietnam, which currently benefits from the EU-Vietnam Free Trade Agreement (EVFTA).