3rd September, 2023
Indonesia is introducing a golden visa plan to lure foreign individuals and corporate investors, to boost its national economy.
Silmy Karim, the Ministry of Law and Human Rights’ director of immigration, acknowledged this in a statement made on Sunday.
“The golden visa grants a residence permit for an extended period of five to 10 years”, Karim said in the statement.
This programme is expected to spark the interest of Nigerian investors seeking opportunities outside of their home country.
Individual investors must establish a $2.5 million corporation for the five-year visa, while a $5 million investment is necessary for the 10-year visa.
Meanwhile, corporate investors must contribute $25 million to obtain five-year director and commissioner visas. They must invest twice as much, or $50 million, in order to obtain a 10-year visa.
Individual foreign investors who do not wish to form a corporation in the Southeast Asian country face different rules. The money needed to purchase Indonesian government bonds ranges from $350,000 to $700,000.
“Once they arrive in Indonesia, golden visa holders no longer need to apply for permits,” Silmy Karim said.
Other nations, like the United States, Ireland, New Zealand, and Spain, have created similar golden visas for investors seeking finance and enterprising inhabitants.
With Indonesia’s new golden visa scheme opening doors to investors, it presents an opportunity for Nigerian investors to explore the benefits of diversifying their portfolios and participating in the economic growth of Southeast Asia.