Indonesia has introduced a “golden visa” program to entice high caliber, high net worth foreign investors.
Depending on the amount of their investment, foreign investors under this new golden visa program may be granted a residency permit valid for five to ten years.
For a five-year visa, an individual investor must establish an Indonesian firm worth US$2.5 million, or a US$5 million investment for a ten-year visa. Additionally, those who don’t want to create a local business might qualify for a five-year visa by investing US$350,000, or US$700,000 for ten years, in Indonesian government bonds, deposit or savings accounts, or shares of a local publicly traded company.
While this is going on, directors and commissioners of companies can get a five-year visa if their firm invests at least US$25 million, or a 10-year visa if their company invests US$50 million.
In Southeast Asia, Indonesia’s neighbors compete fiercely for the attention of affluent people. In many ways, many of these regional competitors have already gotten an advantage.