Overview

On 25 July 2024, the Indonesian Government officially launched its Golden Visa Program. The Golden Visa Program offers long-term residency to foreign nationals who make positive economic contributions to the country, including global investors and high-quality travelers. Ultimately, it is hoped that this new facility will result in a multiplier effect that will encompass capital gains increases, improved quality of human resources and technological transfers.^[1]

The Golden Visa Program was initially introduced under Regulation of the Minister of Law and Human Rights (“Minister”) No. 22 of 2023 on Visas and Stay Permits, which was subsequently amended by Regulation No. 11 of 2024 (collectively referred to as “Regulation 22/2023”). This framework specifies that the golden visa comprises the Limited-Stay Visa, Limited-Stay Permit (Izin Tinggal Terbatas - “ITAS”), Permanent-Stay Permit (Izin Tinggal Tetap - “ITAP”) and Re-Entry Permit (Izin Masuk Kembali – “IMK”) (collectively referred to as “Golden Visas”), each of which have certain validity periods. Golden Visas are issued to certain foreign nationals, who are then granted a range of special privileges by the Minister.