The Immigration Agency of Indonesia has announced that the “golden visa” policy will be implemented this July for foreign companies and citizens investing in the country.
Silmy Karim, head of the agency, claimed that the policy will benefit the country as visas will be granted selectively.
Companies applying for this visa must invest at least US$50 million in Indonesia, while individuals are required to invest a minimum of $350,000 in government bonds.
Silmy said it is also one of the government’s measures to screen qualified foreign tourists. The “golden visa” is valid for 5-10 years and allows its holder to conduct business and other activities in Indonesia.
Indonesian Tourism and Creative Economy Minister Sandiaga Uno expressed his hope that the “golden visa” will help attract more foreign investment in many fields and make Indonesia a center of sustainable economic growth.
Based on the definition of the Organization for Economic Co-operation and Development (OECD), the golden visa refers to a residence permit scheme through investment, or residency by investment.
This policy is implemented by a country through the mechanism of granting residence permits or citizenship to foreign citizens through investment or paying a certain fee.Source:VNexpress
