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Indonesia unveils Golden Visa at 18th Global Citizenship Conference
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(Courtesy of Ministry of Immigration and Corrections)
I
ndonesia’s Golden Visa plays a crucial role in attracting foreign investment and international talent to support sustainable economic, according to Deputy Minister of Immigration and Corrections Silmy Karim, who spoke at the 18th Global Citizenship Conference, held from Nov. 27 to 29 on Sentosa Island, Singapore.
The new visa policy, launched last year, is increasingly drawing international attention to Indonesia, which has the potential to become one of the world's largest economies in the coming years.
“The Golden Visa policy is strategically designed to attract high-value investors and global talent to Indonesia. In its formulation process, we identified the need to make Indonesia more competitive in the global investment landscape while creating tangible benefits for the local economy,” Silmy said.
“Our vision aims in two directions: first, to better accommodate investment migration with the goal of facilitating investors and providing extended residency permits, and second, to encourage sustainable investment in strategic sectors such as property, technology, digital economy, renewable energy and other priority sectors.”
The visa policy has been carefully designed to meet the needs of both investors and global talent while boosting the national economy in line with Indonesia's development priorities, including increasing global talent and expanding infrastructure.
Indonesia has strong macroeconomic prospects with an annual growth rate of 5 percent, and is projected to become the world’s thirteenth-largest economy by 2030 and the fifth largest by 2045.
Key sectors like property, information technology and financial services are growing rapidly with a focus on the green economy, supported by monetary stability and infrastructure worth around Rp 710 trillion (US$45 billion). Indonesia's economic resilience has been proved by its capacity to overcome global crises and leverage the job creation potential of micro, small and medium enterprises (MSMEs) and the digital economy.
"Investors can apply for a Golden Visa online through the official website visa.imigrasi.go.id by following the outlined steps, which covers account creation, document submission and fees payment. For individual investors, the investment requirement is $700,000, while corporate investors need $50 million. The Golden Visa provides significant benefits, which includes extended residency permits, an easy immigration process and investment opportunities in Indonesia’s fast-growing economy," Silmy explained.
During the international discussion on the challenges of regulatory changes, strategic innovations and future trends in investment migration, the deputy minister delivered his presentation on "Golden Visa: Unlocking Indonesia's Potential through Investment Migration".
Other speakers included Grenada Prime Minister Dickon Mitchell, former United Nations Security Council president Alex Gray, Henley and Partners chairman Christian H. Kaelin and official representatives from Saint Kitts and Nevis, Antigua and Barbuda, Switzerland, Montenegro and Greece.
Silmy also participated in "Indonesia Update", an event on Nov. 29 organized by the Indonesian Embassy in Singapore, where he said participating countries had expressed hope that Indonesia’s Golden Visa would provide greater convenience in immigration matters.
“Immigration is also collaborating with various stakeholders on an international level to increase foreign investment through the Golden Visa program,” the deputy minister said, noting that the scheme was also bolstered by local facilities, premium health services and other benefits.
