Indonesia to Launch a Golden Visa Programme to Attract Talents in Digitalisation, Technology
Of late, Indonesia has been engaging in many reforms to ensure the country remains attractive to foreign investors. One such programme is the proposed Golden Visa Programme.
The scheme will focus on attracting the best talent in digitalisation, healthcare, research and technology. The details are still in the works.
Fast Track Citizenship
According to the Cabinet Secretariat, the visa allows a stay of up to 10 years, a streamlined immigration process, the ability to own assets in Indonesia, and a fast-track route to citizenship. Moreover, overseas investors, highly trained labour, and high-earning retirees are all eligible.
To qualify for the programme and take advantage of its benefits, a foreign investor must invest a certain amount, similar to other countries’ golden visas. It will be interesting to see if that sum appeals to investors of all sizes.
Second-Home Visa
Just October last year, Indonesia launched the second-home visa policy to offer tourist spots as retirement homes to foreign nationals. The second-home visa permits foreigners to stay for up to 10 years, provided they can demonstrate that they have more than USD125,000 in an Indonesian bank account or own a luxury property in the respective areas.
The Indonesian government states that the second-home policy is offered to new investments, and foreigners living in Indonesia can continue renewing their temporary permits if they choose to.
Do Business, Live and Play In Indonesia
Indonesia’s golden visa programme will bring plenty of opportunities to both parties, as many other countries have benefitted from the same idea. The Indonesian government must ensure it works out the details meticulously to protect both party’s interests and be on its way to becoming the most preferred country to do business, live and play.
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