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OpenAI chief granted first 'golden visa'
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penAI chief executive Sam Altman has been granted Indonesia's first golden visa, officials said, as Southeast Asia's biggest economy looks to attract wealthy foreign investors.
The co-founder of the ChatGPT bot sensation was granted a 10-year visa for his potential contributions to the development of artificial intelligence (AI) in Indonesia, director-general of immigration Silmy Karim said in a statement late Monday.
"Once the holders of golden visa arrive in Indonesia, they no longer need to apply for a temporary stay permit at the immigration office," he said.
"We are rolling out the red carpet in return for the resources they provide to Indonesia."
Silmy said that an issuance of a golden visa must be based on recommendation by a central government institution.
The United States-based tech entrepreneur was also granted a special visa because of his international reputation as the head of the AI research and development company, the official said.
With the golden visa the 38-year-old would be able to bypass immigration queues at Indonesia's airports and more easily enter and exit the country, according to the statement.
Altman visited Indonesia in June to speak about AI.
Indonesia is introducing a golden visa scheme to attract foreign individual and corporate investors in an attempt to boost its economy.
In the golden visa program, those who invest US$2.5 million in the country will get a five-year stay while those who invest double that amount get 10 years.
The country is looking to develop an AI ecosystem and community in the country as the industry booms worldwide, officials have said.
Other countries around the world including the US, Ireland, New Zealand and Spain have introduced similar golden visas for investors, seeking to attract capital and entrepreneurial residents.
Meanwhile, corporate investors are required to invest $25 million to get five-year visas for directors and commissioners. They need to invest double, or $50 million, to gain a 10-year visa.
Different provisions apply to individual foreign investors who do not want to establish a company in the country.
The requirements range from $350,000 to $700,000 in funds that can be used to purchase Indonesian government bonds. “Once they arrive in Indonesia, golden visa holders no longer need to apply for a permit,” Silmy said.
The golden visa program was the second visa policy the government has launched recently, after previously introducing the "second home" visa program in October, primarily aimed at well-off elderly foreigners who were looking to retire in Bali or in other popular tourist destinations in the country.
The second home program, which came into effect at the start of the year, allows foreigners to apply for a stay permit of up to 10 years if they have an existing visa and provide proof of funds of either Rp 2 billion ($131,000) in a personal Indonesian bank account or proof of ownership of a luxury property in the country.
This hefty proof of funds sparked concern among expat pensioners already living in Indonesia, many of whom do not have the funds needed but were required to transition into the second home visa nonetheless.
Initially, the second home visa was to act as a replacement for existing retirement visas. But the government issued another circular that reneged on that arrangement and instead allows current retirement visa holders to still maintain their visa status pending further decisions.
