The Indonesian government’s Golden Visa scheme has been updated through the Minister of Law and Human Rights Regulation No. 11 of 2024 (“MOLHR Regulation No. 11 of 2024”), effective May 3, 2024. This update amends MOLHR Regulation No. 22 of 2023 on Visas and Stay Permits. 

The Indonesian Golden Visa scheme offers a range of visas designed to encourage foreign investment and support the country’s economic growth while providing a pathway for foreigners to reside and engage in activities within Indonesia.

Golden Visa category includes Limited Stay Visas, Limited Stay Permits, Permanent Stay Permits, and Re-Entry Permits. The Golden Visa does not include an actual work permit. These visas have specific requirements related to capital investment, family reunification, repatriation, and second home concept. 

The requirements for investors vary based on the type of investor and the investment. The updated MOLHR Regulation No. 11 of 2024 introduces a new investor category and revises investment thresholds:

1. Investment in New Business in Indonesia:

• An investor who invests a minimum of USD 2.5 million (approximately Rp 38 billion) in a new business in Indonesia is eligible for a 5-year residence permit.
• A 10-year residence permit for individuals who establish a new business in Indonesia and invest USD 5 million.

1. Investment in Indonesian Capital Markets:

• Investors who invest a minimum of USD 350,000 (IDR 5.3 billion) in Indonesian government bonds, shares of Indonesian public companies, or units of Indonesian mutual funds are eligible to obtain a 5-year residence permit. 
• Investors who invest a minimum of USD 700,000 in Indonesian government bonds, shares of Indonesian public companies, or units of Indonesian mutual funds, and USD 1,000,000 in purchasing a flat or apartment, are eligible for a 10-year residence permit.

1. Directors and Commissioners of Foreign-Owned Businesses in Indonesia:

• Directors and/or commissioners of the Indonesian branch or subsidiary of a foreign company that invests a minimum of USD 25 million in that branch or subsidiary are eligible for a 5-year residence permit.
• In the event that a foreign company invests a minimum of USD 50 million in its Indonesian branch or subsidiary, a 10-year permit is granted.

Only 10 directors or commissioners are eligible per company.

1. Overseas Parent Company Representative (new policy based on MOLHR Regulation No. 11 of 2024):

• A foreign representative of an overseas parent company who invests a minimum of USD 25 million in a subsidiary or branch in Indonesia and is on a visit or assignment shall be granted a 5-year residence permit.
• Foreigners representing an overseas parent company who are on a visit or assignment to a subsidiary or branch in Indonesia and have invested a minimum of USD 50 million in that branch or subsidiary are eligible for a 10-year residence permit.

Only 1 representative is eligible per company.

The Indonesian government has recently updated the official classification of visas. This reclassification may have important implications for your travel or business plans in Indonesia. 

Beyond investment, the scheme of Golden Visa also includes Family Reunification, Repatriation and also Second Home.  

1. Family Reunification:
   

1. Granted to foreigners who join their spouse holding a Limited Stay Permit or Permanent Stay Permit;
2. Children under 18 years old and unmarried who join their parent(s) holding a Limited Stay Permit or Permanent Stay Permit; and
3. Foreigners who join their child holding a Limited Stay Permit or Permanent Stay Permit.

1. Repatriation:

1. Granted to former Indonesian citizens who will reside without a sponsor; and
2. Descendants of former Indonesian citizens up to the second degree without a sponsor.

1. Second Home:

• Second homes (not for work purposes);
• Individuals with special skills;
• World figures invited by the government; 
• Elderly foreigners aged 55 years or older; and
• Remote workers who work for companies outside Indonesian territory (limited to a Limited Stay Permit).

Golden visa holders enjoy exclusive benefits such as a longer stay period, ease of leaving and entering Indonesia (entitled to priority inspection lanes at immigration checkpoints), and no need to apply for an ITAS at the immigration office, but via online.

Navigating visa regulations can be complex and confusing. Therefore, we highly recommend consulting with our legal experts to understand how these changes might affect your specific situation. Our team is here to provide you with detailed information and personalized advice to ensure that you are fully informed and prepared. Please contact us for further information or to schedule a consultation.