Indonesia to implement Golden Visa policy this month

Jakarta - Indonesia's Golden Visa policy, which will offer visa exemption for foreign companies or foreigners who make a large investment in the country, is likely to be issued in one or two weeks, said Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan on August 1.

As reported by the local news outlet Tempo, companies wishing to obtain the Golden Visa must make a real investment of at least 50 million USD. Meanwhile, for individuals, the investment value in government bonds is at least 350,000 USD.

Eligible applicants can get a multi-entry visa that is valid for five to 10 years. They can later conduct business and other activities in the Southeast Asian nation.

The minister reportedly said that the policy would later target highly knowledgeable foreigners including researchers from some of the world's leading universities. The visa could also be given to artificial intelligence (AI) developers.

The Immigration Agency of Indonesia has announced that the “golden visa” policy will be implemented as early as this July for foreign companies and citizens investing a certain amount of money in the Southeast Asian country.

The Indonesian government, through the National Research and Innovation Agency (BRIN), is pushing for the establishment of a research hub for researchers from the member countries of the Association of Southeast Asian Nations (ASEAN).