INSIGHT
Newsletter - A Guide to Indonesia's Golden Visa Requirements
Background
On 25 July 2024, the Indonesian Government through President Joko Widodo officially launched the Golden Visa Program. At that time, the first Golden Visa recipient along with the launch of the Golden Visa was the Indonesian National Football Team Head Coach, Shin Tae Yong who is a South Korean citizen. In general, this program is carried out to provide long-term residence permits for foreign nationals who make positive economic contributions to Indonesia, including global investors and high-quality travellers. The program is intended to bring about a multiplier effect that includes increased capital gains, improved human resource quality, and technology transfer to Indonesian Human Resources.
Implementation of Golden Visa in Indonesia
In its legal arrangement, the Golden Visa is regulated in the Minister of Law and Human Rights (“Minister”) Regulation No. 22 of 2023 concerning Visa and Stay Permit as amended by the Minister of Law and Human Rights Regulation No. 11 of 2024 (“MOLHR Regulation No. 22/2023”). Pursuant to Article 184 and Article 185 of MOLHR Regulation No. 22/2023, Golden Visa is a grouping of Limited Stay Visa, Limited Stay Permit, Permanent Residence Permit, and Re-Entry Permit for a certain period of time. The granting of Golden Visa is specifically granted to foreign nationals who engage in: (i) Capital Investment; (ii) Family Reunifications; (iii) Repatriations; and (iv) Second homes (collectively referred to as “Activities”), for a maximum period of 5 (five) or 10 (ten) years. In granting the Golden Visa, the Government of Indonesia has also conferred several benefits upon Golden Visa Holders, which include: (i) priority inspection lanes at Immigration Checkpoints as designated by the MOLHR; (ii) priority services at the Immigration Office; or (iii) priority services from related agencies, ministries/institutions, based on cooperation agreements (vide Article 190 of MOLHR Regulation No. 22/2023).
Indonesia’s Golden Visa grants long-term stays to foreigners in investment, family, repatriation, or second-home categories with priority services
Requirements of Golden Visa Holder in Indonesia
As it is mentioned earlier, the Golden Visa is exclusively granted to several foreign nationals who engage in Activities within Indonesia. The MOLHR Regulation No. 22/2023 specified the eligible requirements / criteria for each Activities as follows:
a. Capital Investment
In regards to the Capital Investment activity, Article 186 of MOLHR Regulation No. 22/2023 stated that the Golden Visa granted to:
- Individual investors who intend to establish a new company in Indonesia;
- Individual investors with no intention of establishing any companies in Indonesia;
- Individual who are prospective Board of Directors (“BOD”) or the Board of Commissioners (“BOC”) member of companies that will be established in Indonesia as branch offices or subsidiaries of the headquarters of foreign companies; and
- Individuals who are representatives of overseas holding companies and who are visiting or assigned to branch offices or subsidiaries in Indonesia.
However, it should be noted that the implementation of Golden Visa for the BOD and/or BOC member of a company that will be established in Indonesia are limited to a maximum of 10 (ten) individuals for each company, while the branch office/subsidiaries of a foreign company in Indonesia is limited to only 1 (one) individual for each company.
b. Family Reuinification
For Family Reunification, Article 187 of MOLHR Regulation No. 22/2023 stated that the Golden Visa granted to:
- Individual who are seeking to reunite with spouses who are a current Limited-Stay Permit/Permanent-Stay Permit holder;
- Unmarried children under 18 years of age who are seeking to reunite with fathers and/or mothers who are current Limited-Stay Permit/Permanent-Stay Permit holder; and
- Individuals who are seeking to reunite with children who are current Limited-Stay Permit/Permanent-Stay Permit holder.
c. Repatriations
In terms of Repatriations activity, Article 188 of MOLHR Regulation No. 22/2023 stipulates that the Golden Visa granted to:
- Ex-Indonesian nationals who will be staying in Indonesia without a guarantor (penjamin); and
- Descendants of ex-Indonesian nationals for more a maximum of 2 (two) levels of familial separation without a guarantor.
d. Second Homes
Meanwhile for Second Homes activity, Article 189 of MOLHR Regulation No. 22/2023 stipulates that the Golden Visa granted to:
- Individual who possesses second homes in Indonesia;
- Individual who possesses special expertise;
- Global figure; and
- Foreign nationals aged 55 (fifty-five) or more.
How to Apply for Obtaining Golden Visa?
Despite the term “Golden” of this kind of visa, it should be noted that there is no special mechanism for the application process. Foreign nationals who are seeking for a Golden Visa must follow the standard procedures, and they are required to comply with the same rights and obligations as other non-citizens in Indonesia. The process involves first applying for a Limited-Stay Visa, which is then followed by obtaining a corresponding stay permit.
)))000(((
NOTE
This article provides general information and does not constitute legal advice. Readers should seek specific legal counsel for their circumstances.
