Borderless Opportunity: Indonesia Launches Golden Visa
On Thursday 25th of July 2024, Indonesian Ministry of Law and Human Rights (“MoLHR”) officially launch as well as introduces its latest immigration product named Golden Visa which took place in South Jakarta. The issuance of Golden Visa is purposefully aimed to invite potential talented individuals across the globe to invest and later contribute to the nation’s rapidly growing economy. Indonesian Minister of Law and Human Rights, Mr. Yasona Laoly, provide the following statement:
“These days, Border between states has almost become borderless marked by an intense mobilization of individuals as well as the movement of international citizens resulting to the enormous growth of Indonesia in various sectors. In line with the rapid dynamism of Globalization, an adaptive and responsive regulations are required so that we can optimize all resources and potentials for the prosperity of Indonesia. Hence, we decided to conclude the issuance of Golden Visa” .
The statement above is further reaffirmed by the Director General of Immigration of the Republic of Indonesia, Silmy Karim, stipulating that the Golden Visa is essential due to the increasingly interconnected world. Golden Visa is a swift response to the need for strategic initiative to elevate Indonesia global standing. It serves several main objectives which include attracting more foreign investment, driving digital innovation, as well as nurturing the nation’s human capital.
Based on Article 184 of the Regulation of the Minister of Law and Human Rights No.22 of 2023 concerning Visas and Limited Stay Permits, as amended by Ministry of Law and Human Rights No.11 of 2024 concerning Amendments to Regulation of the Minister of Law and Human Rights No.11 of 2023 concerning Visas and Limited Stay Permits (together referred to as, “Permenkumham 22/2023“), the Golden Visa is a grouping of limited Stay Visas, Limited Stay Permits, Permanent Stay Permits, and Re-Entry Permits for a certain period of time. In this case, a Golden Visa is granted to carry out activities.
Indonesia’s Golden Visa offers residency to foreign nationals in a period ranging from 5 to 10 years with extension. It requires investment capital ranging from the minimum of 0,35 to 50 million USD at maximum for individuals as well as 25 million to 50 million USD for Companies. Moreover, it comes with 9 visa classifications each provides specific benefits for foreign nationals. To apply for a Golden Visa, all it takes is to access the website of evisa.imigrasi.go.id and follow the instructions provided.
With this latest product, Indonesia’s hopes of emerging as well as growing strongly in the world globalism continues to soar. As the Golden Visa’s are now becoming more and more accessible to foreign nationals, it is expected to provide significant stimulation towards nation’s developing economy as well as releasing country’s truest potential in the global stage. Strongly evident from the successful practices of 22 preceding countries issuing Golden Visa, the chances of making Indonesia on par with other world’s economic Giants has never been more feasible than ever.
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