An aerial view of the business district in Jakarta, May 5, 2014. REUTERS
Indonesia is implementing a golden visa program to attract foreign individuals and corporate investors with the aim of boosting its national economy, according to a statement from the Ministry of Law and Human Rights. The program, offering a residence permit for a period of five to ten years, is expected to provide incentives for investment.
The scheme requires individual investors to establish a company worth $2.5 million for a five-year visa, while a $5 million investment is required for a ten-year visa. Other countries like the U.S., Ireland, New Zealand, and Spain have implemented similar programs to attract capital and entrepreneurial residents.
Corporate investors are also eligible for the program, with five-year visas granted to directors and commissioners who invest $25 million, and ten-year visas granted to those who invest $50 million. Separate provisions apply to individual foreign investors who prefer not to establish a company in Indonesia, with requirements ranging from $350,000 to $700,000 in funds that can be used to purchase Indonesian government bonds.
“Once they arrive in Indonesia, golden visa holders no longer need to apply for a permit,” said Silmy Karim, Director General of Immigration.
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Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
