Indonesia’s Department of Immigration has announced plans to introduce a new ‘Golden Visa Program’ designed to attract international investment, as reported by VisaGuide.world. The initiative, as revealed by the country’s Minister for Tourism and Creative Economy, Sandiaga Uno, aims to create new opportunities for foreign nationals seeking to live and work in Indonesia.
The forthcoming Residency by Investment scheme offers affluent individuals from around the globe the chance to gain residency in Indonesia, provided they invest a significant sum in the country and fulfil certain criteria. Specific details relating to the scheme are yet to be disclosed but the announcement has already garnered international attention.
Minister Uno anticipates that the scheme will make a substantial contribution to Indonesia’s economic sector. “This scheme is not just about investment, but employment too,” he said, revealing ambitious plans to create 4.4 million new jobs in tourism and the creative economies within the next year.
The Golden Visa programme is expected to attract a diverse range of talents worldwide, particularly in fields such as health, digital technologies, research and technology. It is hoped that the programme will stimulate job creation as international investors contribute to Indonesia’s property market and other sectors.
In outlining the benefits of the programme, Minister Uno confirmed that the new visas will be valid for five or ten years. The programme will also streamline citizenship and visa application processes, and will allow visa holders to legally own property in the nation.
Minister Uno initially hinted at the launch of the ‘Golden Visa Program’ in January of this year, painting it as a “red carpet for internationals.” The new programme aims to attract talent investors and industry players keen to contribute to Indonesia’s economic development and advance the nation’s global standing.
It is important to note, however, that this Residency by Investment scheme differs from the Second Home visa, which targets high earners intending to live in Indonesia for over ten years.
The introduction of the ‘Golden Visa Program’ is one of several measures that the Indonesian authorities are implementing to boost the country’s economy in the wake of the Coronavirus pandemic. One such measure is the proposed launch of the Digital Nomad Visa, designed to appeal to those who work remotely, further demonstrating Indonesia’s commitment to enhancing its economic resilience and future prosperity.