TBM Staff - Mumbai To draw affluent foreign investors, Indonesian authorities have introduced the Golden Visa Program, allowing them to reside legally in the country for up to ten years.
Under Indonesia’s Residency by Investment Scheme, international investors can secure residency through a range of financial investment options, as reported by VisaGuide.World.
For companies, golden visas are available for directors and commissioners with investments of $25 million for a five-year stay or $50 million for a ten-year stay.
Immigration Chief Silmy Karim said that Indonesia began testing the golden visa in August last year, granting residency permits to about 300 applicants and attracting a total of $123 million.
According to him, Indonesia’s goal is to issue a total of 1,000 golden visas before the end of this year.
He said the new visa will also bring opportunities for international companies that are currently operating in Indonesia.
Karim said that authorities are discussing new ways to grant special status to internationals of Indonesian descent, similar to the Overseas Citizenship of India, which permits internationals of Indian ancestry to live and work in India for an undefined period. According to Karim, this could be issued by October.
Local media reports revealed that OpenAI CEO, Samuel Altman, was the first to receive a golden visa issued by authorities in Indonesia. The country’s Immigration Authority granted him a ten-year global talent permit.
The new visas are expected to reduce the number of digital nomads and other long-stayers.
