Indonesia is working on attracting international entrepreneurs and business talent. To do so, it’s launching the new Golden Visa by the end of the year.
The date was previously set for June 2023. But due to several adjustments to make the visa as attractive as possible and prevent the state from irregularities, such as money laundering or terrorist financing, it was moved to the third quarter of the year.
Bali – one of Indonesia’s most famous islands, has been a popular digital nomad destination for decades. The Golden Visa is a residency-by-investment type of visa and will be offered to specific individuals there.
As stated by the Minister for Tourism and Creative Economies Sandiaga Uno, the most lucrative sectors for Indonesia include digital, research, health, and technology.
The Golden Visa will be valid for 5 or 10 years and will provide multiple benefits, like owning assets in the country or fast-track citizenship applications.
Naturally, it’s supposed to bring high-profile applicants into the country who should boost high-quality and high-spending tourism.
With that comes the downside – the Golden Visa will be costly. We don’t know the concrete figure yet. However, applicants of a similar long-term Indonesian visa have to show bank statements with about US$ 130,000 in savings.