THE INDONESIAN (RI) golden visa requirements have been eased for investors, especially foreign companies, wishing to invest in the new capital city Nusantara (IKN).
According to Director General of Immigration at the Law and Human Rights Ministry, Silmy Karim, in a statement released by Immigration in Jakarta on Friday (02/02), 2024, said that requirements for foreign companies wishing to invest in IKN have been lowered from a minimum investment of US$25 million to US$5 million for a stay of 5 years.
“For a stay of 10 years, it has been lowered from US$50 million to US$10 million. In addition, foreign companies seeking to open branches or subsidiaries in the new national capital will be exempt from turnover requirements (sales value) at their parent companies — a requirement for foreign companies opening branches or subsidiaries outside IKN,” he said.
He informed that applications for visas with the E28F index can be submitted online via the website evisa.imigrasi.go.id. A passport with a minimum validity of six months and a photograph will need to be attached with the application.
“The other documents that will need to be submitted include a statement of commitment to build a company at IKN with an investment value of at least US$5 million (for a stay of five years) or at least US$10 million (for a stay of 10 years). In January 2024, 62 golden visas were issued,” Karim remarked.
According to him, the easing of golden visa rules for investors is a form of the Immigration’s commitment to carrying out its function as a supporter of community development.
Furthermore, the director general expressed the hope that the policy could increase the quantum of investment entering IKN.
“We hope that the influx of foreign investors will provide an economic stimulus for IKN and the surrounding area,” he noted.
The golden visa policy launched by the government refers to the Minister of Law and Human Rights’ Regulation No. 22 of 2023 concerning Visas and Stay Permits and the Minister of Finance’s Regulation No. 82 of 2023, which was promulgated on August 30, 2023.
This type of visa service allows foreign nationals to stay in Indonesia for 5–10 years to support the national economy. [antaranews]