DIGIVESTASI - President Joko Widodo (Jokowi) inaugurated Indonesia's golden visa program, which is designed to facilitate foreign nationals (WNA), particularly those investing in Indonesia. "Today, I am launching the Indonesian golden visa," Jokowi said at the Ritz-Carlton Hotel, Jakarta, on Thursday (July 25, 2024). Jokowi explained that "the golden visa service aims to ease the process for foreign nationals to invest and work in Indonesia."

What is the Indonesian Golden Visa?
The golden visa is regulated under the Minister of Law and Human Rights Regulation (Permenkumham) Number 22 of 2023 concerning Visas and Residence Permits. Article 184 defines the golden visa as a category that includes limited stay visas, limited residence permits, permanent residence permits, and re-entry permits for a specified period, up to a maximum of 5 or 10 years. The golden visa is granted for investment activities, family reunification, repatriation, and second homes.

Who is Eligible for the Indonesian Golden Visa?
Permenkumham Number 11 of 2024 specifies that the golden visa is granted to:

1. Investors :
   - Foreign individual investors wishing to establish a company in Indonesia.
   - Foreign individual investors who do not establish a company.
   - Foreign nationals serving as directors or commissioners in companies established in Indonesia, branches, or foreign subsidiaries.
   - Foreign representatives of foreign parent companies working at branches or subsidiaries in Indonesia.

2. Family Reunification :
   - Foreign nationals joining partners holding limited or permanent residence permits.
   - Children under 18 years of age who are unmarried, joining parents with limited or permanent residence permits.
   - Foreign nationals joining children holding limited or permanent residence permits.

3. Repatriation :
   - Former Indonesian citizens who will reside without a sponsor.
   - Descendants of former Indonesian citizens up to the second degree without a sponsor.

4. Second Home :
   - Individuals with special expertise.
   - Global figures.
   - Foreign nationals aged 55 years or older.

Golden Visa Requirements:
The golden visa is granted to foreign nationals who meet the requirements as specified in Permenkumham Number 22 of 2023 and the Minister of Finance Regulation (Permenkeu) Number 82 of 2023. The requirements are as follows:

1. Individual Investors Establishing a Company :
   - Investment of USD 2,500,000 (approximately Rp 38 billion) for a 5-year stay.
   - Investment of USD 5,000,000 (approximately Rp 76 billion) for a 10-year stay.

2. Corporate/Institutional Investors :
   - Investment of USD 25,000,000 (approximately Rp 380 billion) for a 5-year stay.
   - Investment of USD 50,000,000 (approximately Rp 760 billion) for a 10-year stay.

3. Individual Investors Not Establishing a Company :
   - Funds amounting to USD 350,000 (approximately Rp 5.3 billion) for a 5-year stay, which can be used to purchase Indonesian government bonds, shares of public companies, or savings/deposits.
   - Funds amounting to USD 700,000 (approximately Rp 10.6 billion) for a 10-year stay, with the same usage.