Indonesia announces “Golden Visa” policy for foreign companies, citizens
The Immigration Agency of Indonesia has announced that the “golden visa” policy will be implemented as early as this July for foreign companies and citizens investing a certain amount of money in the Southeast Asian country.
Illustration of an Indonesian visa (Photo: asianews.network)
Jakarta (VNA) – The Immigration Agency ofIndonesia has announced that the “golden visa” policy will be implemented asearly as this Ju▨ly for foreign companies and citizens investing a certainamount of money in the Southeast Asian country.
The head of the agency, Silmy Karim, claimed that thepolicy will benefit the country as visas will be granted selectively. Additionally, companies applying for this visa must invest at least 50 millionUSD in Indonesia, while individuals are required to invest a minimum of 350,000USD in government bonds. According to Silmy, it is also one of the government’smeasures to screen qualified foreign tourists. The “golden visa” is valid for5-10 years and allows its holder to conduct business and other activities inIndonesia. Indonesian Tourism and Creative Economy MinisterSandiaga Uno expressed his hope that the “golden visa” will help attract moreforeign investment in many fields and make Indonesia a centre of sustainableeconomic growth. Based on the definition ofthe Organisation for Economic Co-operation and Development (OECD), the GoldenVisa refers to a residence permit scheme through investment, or residency byinvestment. This policy is implemented by a country through themechanism of granting residence permits or citizenship to foreign citizensthrough investment or paying a certain fee. Foreignerswith Golden Visa will enjoy exclusive benefits that are not received by visaholders in general, such as easier and faster procedures and requirements forvisa applications and immigration matters, mobility with multiple entries,longer stay periods, the right to own assets within the country, and includedin the fast-track to apply for citizenship./.
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Illustration of an Indonesian visa (Photo: asianews.network) 
