JAKARTA – In a significant move to attract foreign investment in Indonesia’s newly planned capital, Nusantara, the authorities have made it easier to secure Golden Visa.
Directorate General of Immigration announced the relaxation of golden visa requirements and as per the fresh rules, foreign companies aiming to invest in the emerging capital can now apply for a five-year resident permit by committing a minimum investment of $5 million, a visible reduction from the previous threshold of $25 million.
For investors with a longer-term commitment of 10 years, the capital investment requirement has been similarly relaxed to $10 million from the previous $50 million.
THe Golden Visa program of Indonesia is attracting billionaires from across the world and 62 golden visas have already been issued in the ongoing year.
The Indonesian government’s decision to relax the requirements is aimed at encouraging the influx of foreign capital to spur economic growth not only in the new capital but also in the surrounding areas.
The relaxation comes despite the fact that the Golden Visa program, also known as ‘Residency by Investment’ is being criticized by the European Union and other international players.
Recently, Portugal announced to suspend its Golden Visa program citing the housing crisis as a reason though the mounting pressure from the European Union was also at play.
Indonesia, the world’s largest archipelago, is a Southeast Asian gem nestled between the Indian and Pacific Oceans. Renowned for its breathtaking natural beauty, the country boasts diverse landscapes, from lush rainforests and volcanic terrains to pristine beaches.
Drawing over 15 million tourists annually, Indonesia offers an enchanting tapestry of cultural wonders and outdoor adventures. Bali, a tourist favorite, beckons with its vibrant arts scene and idyllic beaches. Jakarta, the bustling capital, pulses with modernity, while historic Yogyakarta showcases rich Javanese heritage. From the UNESCO-listed Borobudur Temple to the Komodo National Park’s unique wildlife, Indonesia captivates visitors with its kaleidoscope of experiences.
