Indonesia has recently announced the launch of a new visa category called the ‘Golden Visa. This visa is a residency-by-investment style policy that is aimed at attracting international talent to help boost the Indonesian economy. The government hopes that this visa will help attract global talent in the digital, health, research, and technology sectors.
The Golden Visa will be available with longer validity and offers exclusive benefits to its holders. These benefits could include quicker and easier processes for visa applications and immigration matters, greater global mobility with multiple entries to Indonesia, longer stay periods, the right to own assets within the country, and a fast-track lane for citizenship applications.
The government under the Ministry of Tourism and Creative Economies hopes that the new Golden Visa will encourage more international citizens to explore the country, especially Bali. By attracting long-term foreign tourists, digital entrepreneurs, and higher-quality foreign tourists who stay longer, it is hoped that this visa will encourage investment in the country and create jobs.
While the application requirements and cost for the Golden Visa have not yet been announced, it is worth noting that dozens of residency-by-investment style policies are already in place in countries around the world.
According to Euronews, The Golden Visa is a residence through an investment scheme that allows individuals to obtain a residence permit in a country by buying property, making investments, or making large donations. It is important to note that the Golden Visa scheme differs from the golden passport program, officially known as the Citizenship through Investment program.
The golden visa scheme provides access to its holders to enjoy a multitude of benefits as residents of countries within the European Union, including the freedom to move between countries.
However, the European Commission issued a call to EU country governments to stop offering citizenship to investors in 2022, as there were concerns that this scheme could become a security risk for EU countries.
While the golden visa scheme provides investment opportunities and economic contributions, it is essential that policies are introduced to ensure the system is not abused or misused for inappropriate purposes, such as money laundering or tax evasion.