Indonesia has made significant strides in attracting foreign investment, and the introduction of the Golden Visa is a prime example. This long-term residency permit, granted to individuals making substantial investments in the country, has opened up new opportunities for property ownership.
Understanding the Golden Visa
The Indonesia Golden Visa is a special type of visa designed to attract high-net-worth individuals, investors, and skilled professionals to the country. It offers significant benefits and privileges to those who qualify, making it a lucrative option for foreigners seeking to live, work, or invest in Indonesia.
Golden Visa holders are granted a long-term stay permit, typically five or ten years, depending on the investment amount or qualifications. Visa holders can enter and exit Indonesia multiple times without the need for frequent visa renewals.
Enjoy expedited foreign nationals immigration processes, reducing bureaucracy and waiting times. Depending on the investment or contribution, Golden Visa holders may be eligible for specific tax benefits.
While not explicitly stated in all cases, holding a Golden Visa often simplifies the process of obtaining work permits for foreign employees.
Property Ownership for Indonesia Golden Visa Program Holders
While foreign ownership of land is restricted in Indonesia, Golden Visa program holders can own property through leasehold agreements. This means they can lease the land for a specific period, typically 30 years, with an option to renew.
Regulation of the Minister of Law and Human Rights (Permenkumham) Number 22 of 2023 concerning Visas and Stay Permits as well as Regulation of the Minister of Finance Number 82 of 2023 which was promulgated on 30 August 2023 became the basis for implementing the Golden Visa policy.
This visa classification is intended for qualified foreigners who will benefit the country’s economic development, one of which is investors, both corporate and individual.
- To be able to stay in Indonesia for 5 ( five-year ), foreign individual investors who wish to establish a company in Indonesia are required to invest US$ 2,500,000 (around Rp. 38 billion). Meanwhile, for a stay of 10 (ten) years, the required investment value is US$ 5,000,000 (around Rp. 76 billion);
- Meanwhile, corporate investors who form a company in Indonesia and invest US$ 25,000,000 or around Rp. 380 billion will receive a golden visa with a stay of 5 (five) years for their directors and commissioners; for an investment value of US$ 50,000,000, a stay of 10 (ten) years will be given;
- Different provisions apply to individual foreign investors who do not intend to establish a company in Indonesia. For a 5 (five) year golden visa, applicants are required to place funds worth US$ 350,000 (around Rp. 5.3 billion) which can be used to buy Indonesian government bonds, public company shares or place savings/deposits; Meanwhile, for a ( 10-year ) golden visa, the funds that must be placed are US$ 700,000 (around Rp. 10.6 billion).
Golden visa holders can enjoy a number of exclusive benefits from this type of visa. These include a longer stay period, ease of leaving and entering Indonesia, and efficiency because there is no longer a need to apply for an ITAS at the immigration office.
Eligibility Criteria
To qualify for the Indonesia Golden Visa, individuals typically need to meet one or more of the following criteria:
Significant Investment: Investing a substantial amount in the Indonesian economy, such as establishing a business, purchasing property, or participating in government-approved investment projects.
High Net Worth: Demonstrating a high net worth through financial assets, income, or other relevant indicators.
Exceptional Talent: Possessing exceptional skills or expertise in fields deemed beneficial to Indonesia’s development.
Important considerations
While the Golden Visa offers attractive benefits, it’s essential to carefully review the specific requirements, eligibility criteria, and conditions associated with the business in Indonesia program. Consulting with immigration experts or legal professionals can provide valuable guidance throughout the application process.
To learn more about the Indonesian Golden Visa, visit the article The Launch of Indonesia Golden Visa: Welcoming Global Talent and Investment
Get the Latest Information on Real Estate and Mortgages from Lets Move Group
As a trusted real estate and mortgage consultant, Lets Move Group is ready to help you optimise your property investments in Indonesia. We offer comprehensive services, including market analysis, property selection, and handling legalities and financing.
Do not hesitate to contact Lets Move Group for a free consultation and more information on property investment opportunities in Indonesia. We are here to help you achieve your investment goals!
Website: www.theletsmovegroup.com
Email: info@letsmovegroup.com
Phone: +622112345678
Conclusion
The Indonesia Golden Visa has transformed the landscape for foreign property investment. By understanding the regulations and exploring the available opportunities, foreign investors can benefit from owning property in this dynamic Southeast Asian nation.
