Inp.polri.go.id - Jakarta.  In a strategic move to invigorate foreign investments in the National Capital Territory (IKN) Nusantara, the Immigration Directorate General of the Ministry of Law and Human Rights has revised the eligibility criteria for the coveted Golden Visa program. "The requirements for foreign companies eyeing investments in IKN have been significantly eased. The minimum investment threshold has been reduced from $25 million to a more accessible $5 million for a 5-year visa. Likewise, for a decade-long stay, the threshold has been lowered from $50 million to $10 million, " said Director General of Immigration, Silmy Karim, on Friday (2/2/2024) These alterations extend to foreign enterprises establishing branches or subsidiaries within the confines of IKN, exempting them from the turnover prerequisites applicable to ventures operating outside this designated zone, antaranews.com reported. Director General Silmy Karim emphasized that the application process for the visa has been streamlined, allowing interested parties to apply conveniently through the immigration website. The requisite documentation comprises a passport with a minimum 6-month validity, a passport photo, and a commitment statement affirming an investment of at least $5,000,000 (for a 5-year stay) or $10,000,000 (for a 10-year stay) in IKN. The practical implications of this initiative have already seen tangible results, with 62 golden visas issued in January 2024 alone, he said. (mg/inp/pr/nm)