Inp.polri.go.id - Jakarta. Silmy Karim, the Director General of Immigration at the Ministry of Law and Human Rights, said on Thursday (8/8/2024) that Indonesia stands to gain more from the Golden Visa program.

"Foreign nationals can stay longer, return, and stay for 5 to 10 years, which is beneficial for them. However, Indonesia benefits even more. The focus should be on the advantages for Indonesia," he said on Thursday (8/8/2024).

The Golden Visa, launched by President Joko Widodo on 25 July 2024, is aimed at high-quality entrants, providing economic benefits to Indonesia. 

"The goal is to create a sustainable ecosystem, where investments generate jobs, manufacturing, and tax revenue, which in turn supports small and medium enterprises (SMEs)," Silmy explained, as reported by antaranews.com.

For investors, the Golden Visa requires personal investments of $350,000 to $700,000, while corporate investors must invest between $25 million and $50 million. Personal investments can be placed in Indonesian banks, stock markets, or government bonds.

The Golden Visa includes a category for global talents, like Sam Altman, Founder of ChatGPT, and Shin Tae-yong, the South Korean coach of Indonesia's national soccer team. These visas are intended to boost Indonesia’s AI and sports sectors.

The policy is based on Regulation No. 22/2023 on Visas and Residency Permits and Regulation No. 82/2023 from the Ministry of Finance. Golden Visa types include individual and corporate investors, former Indonesians, descendants of former Indonesians, second home seekers, global talents, and world figures.

(mg/inp/pr/nm)