Dreaming of owning property in Bali and living in a tropical paradise? Indonesia’s Golden Visa Program can turn that dream into reality. This program offers a pathway to residency for foreign investors like yourself, allowing you to enjoy Bali’s beauty and cultural richness while owning a piece of it. This guide will explain everything you need to know about the Golden Visa Program, from eligibility requirements to the application process and the benefits it offers, making your Bali dream a secure and achievable reality.
What is Golden Visa?
Golden visas are a type of visa granted to foreign individuals who make significant investments in Indonesia or contribute to the country’s economy in other ways. The program aims to attract foreign investment and talent to boost Indonesia’s economic development and make it possible for foreigners can stay in Bali for longer.
The Golden Visa Program was established by the Regulation of the Minister of Law and Human Rights (Permenkumham) Number 22 of 2023 and the Regulation of the Minister of Finance Number 82 of 2023. Under this program, foreign individuals can obtain a five-year or ten-year residence permit in Indonesia by meeting specific investment or contribution requirements.
“There are several categories of golden visas besides investment, one of which is a golden visa given to figures with an international reputation who can provide benefits to Indonesia. To obtain a golden visa, they must be proposed by central government agencies,” explained Director General of Immigration, Silmy Karim.
In addition to investment-based golden visas, the program also offers visas to individuals with exceptional talent or expertise in specific fields, such as science, technology, arts, and culture. These individuals can contribute to Indonesia’s development by sharing their knowledge and skills.
How To Apply For Golden Visa?
To apply for a Golden Visa, foreign individuals must meet the eligibility requirements and submit the necessary documents. The application process is streamlined and efficient, and visa holders enjoy a range of benefits, including multiple-entry permits, longer stay periods, and the right to work and own property in Indonesia.
The Golden Visa Program is an attractive option for foreign investors and individuals seeking to live, work, and invest in Indonesia. It offers a pathway to residency, access to a vibrant economy, and the opportunity to experience the rich culture and natural beauty of this Southeast Asian nation.
Chief Executive Officer (CEO) of OpenAI, Samuel Altman, has become the first foreigner to receive Indonesia’s Golden Visa since its launch in late August. Altman was granted a 10-year Golden Visa under the “world figure” category, signed by the Director General of Immigration, Silmy Karim.
As a Golden Visa holder, Altman will enjoy a range of exclusive benefits, including priority lanes and services at airports, extended stays in Indonesia, ease of entry and exit, and the convenience of not having to apply for an ITAS (Limited Stay Permit) at the immigration office. The granting of the Golden Visa to Altman is a concrete example of the Directorate General of Immigration’s role in supporting the development of Indonesia’s Artificial Intelligence ecosystem.
“Once they arrive in Indonesia, they will no longer need to apply for an ITAS (Limited Stay Permit) at the immigration office. We will provide them with a red carpet as a reward for the resources they can provide to Indonesia,” concluded Silmy.
Golden Visa Requirements
From the minimum requirements, Golden Visas in Indonesia are perfect for corporate investors as well as Real Estate investment in Indonesia. You can see the details of the Golden Visa requirements below:
Individual Investors
- 5-year Golden Visa:
- Establish a company in Indonesia
- Invest a minimum of US$2,500,000 (approximately Rp 38 billion)
- 10-year Golden Visa:
- Establish a company in Indonesia
- Invest a minimum of US$5,000,000 (approximately Rp 76 billion)
Corporate Investors
- 5-year Golden Visa for Directors and Commissioners:
- Form a company in Indonesia
- Invest a minimum of US$25,000,000 (approximately Rp 380 billion)
- 10-year Golden Visa for Directors and Commissioners:
- Form a company in Indonesia
- Invest a minimum of US$50,000,000 (approximately Rp 760 billion)
Individual Investors Without Establishing a Company
- 5-year Golden Visa:
- Invest a minimum of US$350,000 (approximately Rp 5.3 billion) in:
- Indonesian government bonds
- Shares of publicly listed Indonesian companies
- Savings/deposits
- Invest a minimum of US$350,000 (approximately Rp 5.3 billion) in:
- 10-year Golden Visa:
- Invest a minimum of US$700,000 (approximately Rp 10.6 billion) in:
- Indonesian government bonds
- Shares of publicly listed Indonesian companies
- Savings/deposits
- Invest a minimum of US$700,000 (approximately Rp 10.6 billion) in:
Global Talent
This category recognizes foreign individuals with exceptional talent or expertise in specific fields like science, technology, arts, or culture. These individuals can be nominated by Indonesian government agencies to receive a Golden Visa based on their potential contribution to the country’s development. Sam Altman as above receive his Golden Visa under this category.
Where to Apply for Golden Visa?
The best way to apply for Golden Visa is to contact trusted Visa Agency. We can’t name a few, so a due diligence on your side is adviseable. Begin by checking the official website of the Indonesian Directorate General of Immigration for a list of licensed visa consultants. Look for agencies affiliated with reputable organizations like the Indonesian Advocates Association (PERADI) for added credibility.
Is Golden Visa for Digital Nomad?
There were news / rumor saying Golden Visa is good for digital nomad. However when the official release on August 2023, the requirement for Golden Visa is not suitable for Digital Nomad.
Hence, the Indonesian goverment is currently working on separate visa for Digital Nomad. Especially in Bali, there are many digital nomad conducting business or working here so the plan for separate digital nomad visa is a must.
As per now, April 2024, a more suitable option for digital nomad in bali might be the B211a Socio-Cultural Visa. This visa allows stays of up to 180 days (with extensions) and is specifically designed for social and cultural activities, which can include remote work for foreign income.
