The Indonesian government plans to implement a new immigration policy known as the “golden visa,” which will allow foreign investors to obtain permanent residency in the country. The Indonesian government hopes that by taking this step, it will attract foreign investment and help the country’s economy.
The golden visa scheme has been implemented successfully in several countries, such as Portugal, Spain, and Greece, and has proven to be a popular option for high-net-worth individuals, seeking a second home or investment opportunity.
Previously, we shared the news about the introduction of the golden visa’s implementation plans in Indonesia. In this article, we will discuss the benefits and potential impact on the Indonesian economy of Indonesia’s upcoming implementation of the “golden visa” scheme.
Definition of Golden Visa
The golden visa is a residency-by-investment programme that allows high-net-worth individuals to obtain permanent residency or citizenship in a foreign country by making a significant investment in the economy of that country.
The term “golden visa” is used because it provides a quick and easy path to residency and citizenship, as well as various benefits such as access to healthcare, education, and employment opportunities.
In recent years, the programme has grown in popularity as countries seek to attract foreign investment and boost their economies by offering residency and citizenship in exchange for substantial investments.
The Example of Golden Visa’s Implementation
Portugal is one example of how a country implements the golden visa.
The golden visa programme in Portugal has been a success since it was introduced in 2012, allowing investors to get residency in exchange for investing in real estate or research and development projects worth at least €500,000. Since then, thousands of investors have applied for and obtained residency, and billions of euros have been invested.
This has created jobs and boosted the real estate market, and the Portuguese government has recently expanded the scope of the programme to include more types of investments, like investing in SMEs. This is a great example of a well-thought-out residency by investment programme that can help boost the economy.
Benefits and Disadvantages
If you want to relocate to another country, a golden visa could be a great option. It’s a quick and simple way to obtain residency or citizenship, and it allows you to travel freely and stay in the country of your choice without the need for a visa.
You’ll also have better access to health care, education, and job opportunities. It’s also an excellent way to maximise your return on investment, particularly in real estate. You will also attract foreign investors, who will help the economy and create new jobs. Furthermore, you can obtain citizenship and even a second passport, allowing you to travel around the world more easily.
The disadvantage is that some countries may restrict what foreign residents can do, or they may not have the same rights as locals. Furthermore, some programmes may be subject to fraud or corruption, and changes in laws or policies may affect the amount or duration of your investment.
Golden Visa’s Possible Practice in Indonesia
The Indonesian government is considering establishing a golden visa programme to attract foreign investment and boost the country’s economy. The minimum investment amount and requirements for obtaining a golden visa have yet to be finalised, but the programme will focus on real estate and infrastructure development.
The golden visa programme in Indonesia presents both opportunities and challenges, with the country’s rapidly growing economy and stable political environment making it an attractive investment destination.
However, corruption and bureaucracy remain significant issues, and there is a risk that the programme will benefit only the wealthy few at the expense of the local population. It is up to the Indonesian government to address these issues and ensure the programme benefits both investors and the general public.
Looking for other immigration-related references and updates? Check out the other articles from Social Expat!
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