New Opportunities Open Up In Bali As Indonesia Grants First Golden Visa 

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The long-awaited Golden Visa for Indonesia has now officially launched. With applications having been open for some time, the first official Golden Visa has been granted.

This new visa policy is set to make it easier for foreigners to invest in building a life in Indonesia, including in popular provinces like Bali. 

The Golden Visa was first announced in late 2023, with Indonesia’s Director General of Immigration, Silmy Karim, confirming that the new visa would allow investors, high-wealth individuals, and foreigners wishing to start businesses in Bali and around the country to work and live for an overall stay of 5-10 years.

The Golden Visa has been open for application for a few months now and Indonesia has just granted the first Golden Visa stamp this week. The visa was formally awarded by President Joko Widodo himself. 

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A post shared by Direktorat Jenderal Imigrasi (@ditjen_imigrasi)

The recipient is the coach of the Indonesian national football team, South Korean-born Shin Tae-Yong. In a ceremony held in Jakarta on Thursday, 25th July, Tae-yong was presented with his visa by President Widodo and the Minister of Law and Human Rights Yasonna Laoly, the Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, and the Director General of Immigration, Silmy Karim. 

President Widodo said, “We want global talent to enter Indonesia and provide benefits to our country.”

He added that he is keen to see the Golden Visa attract more talented individuals to come to Indonesia to share their skills and help the country grow.

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Jokowi added, “We hope to provide as many national benefits as possible. Don’t let people enter who are not useful for our country…But remember, the Golden Visa is only for good quality travelers, so it must be really selective and really see its contribution. Do not let people endanger the security of the country, people who do not provide national benefits.”

The Golden Visa has been open for applications for a few months, and a large number of individuals have already submitted their applications. President Widodo told the audience, “Until today, I asked immigration [and they said] already 300 foreigners registered. I was also surprised there were so many.” 

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A post shared by Joko Widodo (@jokowi)

The President concluded, “By saying Bismillahirrahmanirrahim, I am launching the Golden Visa today, and I invite world citizens to come to invest and work in Indonesia,” 

In his address at the launch event, Minister of Law and Human Rights Yasonna Laoly said, “Indonesia opens the widest possible opportunities for world figures, international investors, world talents, and the Indonesian diaspora to come to contribute and take part in developing Indonesia.”

He added, “Implementation of this policy brings new optimism for business people and investors to gain comfort and certainty in investing.”

The Golden Visa is an option for high-wealth investors and those considered by the Indonesian Government as ‘Global Talent’; these individuals will receive the Golden Visa either by invitation or by working in collaboration with the Government. 

In a post published on the Directorate General of Immigration’s social media, the authorities say, “The Directorate General of Immigration will soon introduce the Golden Visa to further Indonesia’s economic growth agenda as an expected program to increase foreign direct investment, diversify investment into the new economy, and increase access and opportunities for entrepreneurs, business owners, and global talent to live in Indonesia.”

Indonesia’s Immigration teams add, “The Golden Visa program is not just for investors. It is designed to be inclusive, extending its benefits to the Indonesian Diaspora, property owners, the elderly, world talents, world figures, and representatives of companies that establish branches in Indonesia. This inclusivity is a testament to our commitment to all those who contribute to Indonesia’s growth.”

The Golden Visa offers several different application routes for foreigners. Foreigners can invest as individuals or as business corporations; the level of investment also dictates whether a 5 or 10-year residency permit is granted.

It is also possible to apply for the Golden Visa on the grounds of purchasing Indonesian Government bonds or Indonesian company stocks. 

For a five-year Golden Visa, applicants applying as foreign individual investors must invest USD 2.5 million (IDR 38 billion) or USD 5 million (IDR 76 billion) for a 10-year visa. 

Corporate investors who want to form a company in Indonesia via the Golden Visa category must invest USD 25 million (IDR 380 billion) and will receive a 5-year gold visa for directors and commissioners.