Golden Visa designed to attract high-value investors: govt

Jakarta (ANTARA) - The Golden Visa scheme has been strategically designed to attract high-value foreign investors and global talents to Indonesia to support sustainable economic growth in the country, according to Deputy Minister of Immigration and Corrections, Silmy Karim.

At the 18th Global Citizenship Conference Agenda in Singapore on Friday, he said that the Golden Visa is increasingly attracting international attention, given Indonesia's potential to be one of the world's largest economies in the next few years.

"In the formulation process, we identified the need to make Indonesia more competitive in the global investment landscape while creating real benefits for the local economy," he confirmed in Jakarta on Saturday.

He informed that the government is pursuing a two-way vision through the Golden Visa: making Indonesia the main destination for foreign investment by simplifying residence permit requirements as well as ensuring that incoming investment supports sustainable economic growth, especially in sectors such as technology, tourism, and renewable energy.

The Golden Visa has been carefully designed through a comparison of global best practices and adjustments to align the scheme with Indonesia's unique economic needs and national development goals.

He said that the program is in line with Indonesia's vision for inclusive and sustainable development by encouraging job creation, knowledge and skills transfer through the presence of global talent, and infrastructure development.

According to the deputy minister, Indonesia has strong macroeconomic prospects with growth of around 5 percent per year, so it is projected to become the 13th-largest economy in the world by 2030 and the fifth by 2045.

Key sectors such as property, information technology, and financial services are growing rapidly with the support of monetary stability, infrastructure worth around Rp710 trillion, and a focus on the green economy.

Meanwhile, Silmy said, Indonesia's economic resilience can be seen from its ability to overcome the global crisis and utilize the potential of micro, small, and medium enterprises (MSMEs) as well as the digital economy for growth and job creation.

He informed that foreign investors can apply for a Golden Visa online through the official website evisa.imigrasi.go.id. The process involves creating an account, uploading documents, and making an online payment, he added.

"The residence permit granted is valid for 5 to 10 years, depending on the type and value of the investment. For individual investors, the investment value is US$700 thousand, while for corporate investors it is US$50 million," he said.

He highlighted that the Golden Visa provides significant benefits, including long-term residence permits, easy immigration processes, and investment opportunities in Indonesia's rapidly growing economy.