Indonesia to launch 'golden visa' to attract global investors

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The Indonesian government is looking to attract global talent and investors with an upcoming golden visa programme which aims at offering international talent and investors a longer stay permit, according to The Jakarta Post.

The news came after a cabinet meeting with President Joko Widodo and Tourism and Creative Economy Minister Sandiaga Uno. Following the meeting, Sandiaga told reporters present that the golden visa could significantly impact Indonesia's efforts to attract more foreign talent as well as investments which could then create more job opportunities locally.

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He noted that the golden visa will look to attract talent in the digitalisation, health, research and technology space and that he hopes that it will attract more entrepreneurs and foreigners into the country.

The new policy will mean that investors and talent entering Indonesia might be allowed to stay in the country longer without needing to routinely renew their visas. They might be allowed to stay in the country for up to 10 years though Sandiaga noted that the details were still unconfirmed and that it was being discussed with the Law and Human Rights Ministry’s Immigration Directorate General.

He added that he hopes this will make Indonesia the "epicentre" of economic growth and that it will encourage sustainable development particularly as it is the "largest archipelagic country" with the ability to absorb large carbon emissions.

The announcement of the golden visa policy is the second to come in recent months after the Indonesian government launched a second home visa programme last October that allowed well-off elderly foreigners to apply to stay for up to 10 years if they were looking to retire in popular tourist destinations in the country, had an existing visa and were able to provide proof of funds of a minimum of US$181,600 or proof that they own a luxury property in Indonesia itself.

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