The announcement of the Indonesia Golden Visa has been made that has started attracting the eyes of people from around the world. Reports reveal that Indonesia has made the announcement of the launch of a new visa program, called the ‘golden visa’. This initiative has been made to encourage foreign investors and corporations to invest in the country and help boost Indonesia’s economy.
Details about the Indonesia Golden Visa
According to the statement of The Ministry of Law and Human Rights released recently, the golden visa of Indonesia offers an extended residency permit for a period of 5 to 10 years. The Director General of Immigration, Silmy Karim, mentioned in his statement that the visa requires a $2.5 million investment for a 5-year visa and a $5 million investment for a 10-year visa.
Similar programs have also been launched around the world. Reports have it that Ireland, the United States, New Zealand, and Spain have also introduced/initiated similar programs in an effort to attract capital and entrepreneurial residents.
Indonesia Golden Visa – Procedure
For corporate investors, it is required to make an investment of $25 million to obtain a 5 years visa for directors and commissioners. For a 10-year golden visa, they have to invest twice as much, i.e. $50 million.
There are different rules/policies that apply to individual foreign investors who do not wish to establish a company in Indonesia. Those individuals are required to have funds ranging from $350,000 to $700,000, which they can use to buy/purchase Indonesian government bonds. The best thing about the golden visa is that the investors with golden visas once they arrive in Indonesia, will not be required to apply for a permit.
Open AI CEO, Sam Altman, Gets First Indonesia Golden Visa
There is news that the first Indonesia Golden Visa has been offered to Sam Altman. The CEO of Open AI, Sam Altman, has been granted this visa as a way to attract rich foreign investors to the country. He has been conferred this 10-year visa in recognition of his marvelous contributions to the enhancement and development of artificial intelligence (AI) in Indonesia.
Reports depict that the ones who hold the golden visa will no longer in need to apply for a temporary stay permit at the Indonesian Immigration Office upon their arrival.
Sam Altman, the 38-year-old, will now be able to travel fast in and out of Indonesia with the golden visa, he now holds. He can now avoid immigration lineups at Indonesian airports. Although his plans for investments in the country have not been disclosed yet, soon things will be vivid.
Well, the country is without any doubt very attractive not only for the tourists (because of its mesmerising tourist attractions and visiting places), but also for the freelancers (digital nomads). It has emerged as the big hub for digital nomads. Bali (province of Indonesia) is enough to allure the people and the digital nomads and the province has been grabbing the attention of the visitors from the outset. Indonesia’s Golden Visa is now a new attraction for the people.