Indonesia Officially Launches New Golden Visa Program in 2024

Indonesia has officially launched its long-anticipated Golden Visa program, a move that marks a significant milestone for the nation and a game-changer for property investment in Bali and beyond. With applications already open for some time, the very first Golden Visa has been awarded, ushering in a new era for foreign investment across the archipelago.

This innovative visa policy is designed to make investing in Bali and other regions of Indonesia more accessible for foreigners. It streamlines the process for those looking to buy land in Bali, explore villas for sale, or even consider a villa to rent in Bali while setting up their lives in this beautiful country. The program was first announced in late 2023, with Indonesia’s Director General of Immigration, Silmy Karim, outlining how the Golden Visa would provide a 5 to 10-year residency for investors, high-net-worth individuals, and entrepreneurs eager to be part of Indonesia’s growth story.

Read article: Indonesia’s Golden Visa Policy: Complete Guide and Updates

First Golden Visa to Coach Shin Tae-Yong

This week, after months of eager anticipation, the first Golden Visa was officially granted. The honor went to Shin Tae-Yong, the South Korean-born coach of Indonesia’s national football team. President Joko Widodo personally presented the visa in a special ceremony held in Jakarta on July 25th. This historic event was attended by several key officials, including Minister of Law and Human Rights Yasonna Laoly, Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, and Director General of Immigration Silmy Karim.

During the ceremony, President Widodo articulated his vision for the Golden Visa program, emphasizing its crucial role in attracting global talent to Indonesia. “We want global talent to enter Indonesia and contribute to our nation’s growth,” he stated. The President also underscored the importance of selecting candidates who bring real value to the country, ensuring that only those who can significantly benefit Indonesia will be granted the visa.

Watch here: President Jokowi presented the visa to Shin Tae-Yong

Interest in the Golden Visa program has already been substantial, with more than 300 foreigners having submitted their applications. As President Widodo officially launched the program, he invited citizens from around the world to invest in Bali and other parts of Indonesia. “By saying Bismillahirrahmanirrahim, I am launching the Golden Visa today, and I invite world citizens to come to invest and work in Indonesia,” he proclaimed.

Echoing the President’s enthusiasm, Minister Yasonna Laoly emphasized that Indonesia is opening its doors wide to global figures, investors, and talents, as well as the Indonesian diaspora, to help drive the country’s development. “This policy brings new optimism for business people and investors, offering comfort and certainty in their investments,” he added. For those considering property investment in Bali or elsewhere in Indonesia, this is an exciting opportunity.

The Golden Visa program is notably inclusive, catering not only to wealthy investors but also to those recognized as ‘Global Talent’ by the Indonesian Government. Whether you’re interested in purchasing a villa in Bali, looking at land for sale to develop, or exploring other Bali property investment opportunities, the Golden Visa provides a clear path forward. The program also extends its benefits to property owners, retirees, world talents, and company representatives looking to establish branches in Indonesia, underscoring the country’s commitment to a diverse and dynamic economy.

There are several routes to obtaining a Golden Visa. Foreigners can invest either as individuals or through business corporations, with the level of investment determining whether they receive a 5-year or 10-year residency permit. The Golden Visa can also be obtained through the purchase of Indonesian Government bonds or company stocks.

For a five-year Golden Visa, individual investors need to commit USD 2.5 million (IDR 38 billion), while those seeking a 10-year visa must invest USD 5 million (IDR 76 billion). Corporate investors who wish to establish a company in Indonesia under the Golden Visa category are required to invest USD 25 million (IDR 380 billion), with directors and commissioners eligible for a 5-year visa.

With this program, the door is now wide open for those dreaming of buying land in Bali, exploring villas for sale, or making other forms of property investment in Indonesia. Whether you’re eyeing land to buy in Bali or a villa to rent in Bali as part of your relocation plans, the Golden Visa offers an attractive incentive to take the plunge.

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