JAKARTA: According to a statement from the ministry of law and human rights released on Sunday( Sep 3 ), Indonesia is launching the golden visa program to draw in foreign individual and corporate investors and strengthen its economy.
According to director general of immigration Silmy Karim,” The beautiful immigration is granting a house licence for an extended period of five to ten years.”
Individual investors are required to establish a business for US$ 2.5 million for the five-year card, while US$ 5 million investment is required for each of the ten years card.
Similar beautiful visas have been introduced for investors in other nations, such as the US, Ireland, New Zealand, and Spain, in an effort to draw in capital and resourceful locals.
Commercial investors, however, must invest US$ 25 million in order to obtain five-year visas for managers and commissioners. To obtain a 10-year immigration, they must spend twice as much, or US$ 50 million.
Individual foreign investors who do not want to build a business in the Southeast Asian nation are subject to different rules.
The amount of money needed to buy bonds issued by the Indian government must be between US$ 350,000 and US$ 700,000.
Gold card holders are no longer required to apply for permits once they enter Indonesia, according to Silmy Karim.