2-6-2023 (JAKARTA) The Indonesian government is gearing up to launch a new “golden visa” program aimed at enticing global talents and making the country a more appealing destination for work and long-term stays. Following a Cabinet meeting with President Joko “Jokowi” Widodo, Tourism and Creative Economy Minister Sandiaga Uno revealed that the golden visa initiative could be a game changer in Indonesia’s efforts to attract foreign workers and investments, ultimately leading to increased job opportunities.
According to Minister Sandiaga, the golden visa program will target quality talents in the fields of digitalization, health, research, and technology. It is expected to attract a diverse range of individuals, including digital nomads and entrepreneurs, who will contribute to the country’s growth and investment landscape. While the exact technical details of the program are still being finalized in collaboration with the Law and Human Rights Ministry’s Immigration Directorate General, the golden visa could grant foreigners a permit to stay for up to 10 years.
Minister Sandiaga emphasized that this initiative aims to position Indonesia as an epicenter for economic growth and sustainable development. As the largest archipelagic country, Indonesia possesses the capacity to absorb significant carbon emissions while fostering economic progress.
The golden visa program will be the second visa policy launched by the government in recent months. The first was the “second home” visa program introduced in October, primarily catering to affluent elderly foreigners seeking retirement opportunities in Bali and other popular tourist destinations across the country. Implemented at the beginning of this year, the second home program allows foreigners to apply for a stay permit of up to 10 years, provided they hold an existing visa and can demonstrate proof of funds amounting to Rp 2 billion (US$128,559) in a personal Indonesian bank account or evidence of ownership of a luxury property in the country.
However, concerns arose within the expat pensioner community already residing in Indonesia due to the significant financial requirements imposed by the second home visa program. Many retirees do not possess the necessary funds but were compelled to transition to the new visa category. Initially, the second home visa was intended to replace existing retirement visas, but the government later issued a circular allowing current retirement visa holders to maintain their visa status while further decisions are made.
With the upcoming introduction of the golden visa program, Indonesia aims to attract top talents from around the world, foster economic growth, and enhance its position as a global hub for innovation and sustainable development.
