Golden visas for investors have been issued in Indonesia to strengthen its national economy to entice corporate investors from abroad, as per a statement by the ministry of law and human rights on Sunday.What is golden visaThe golden visa is a program that gives high-net-worth individuals, the option of physically relocating to a favourable jurisdiction — either now or upon retirement — and become residents of that state with full legal rights, including the right to live, work, study, and receive healthcare in that country.The official statementSilmy Karim, the director general of immigration, said “The golden visa is granting a residence permit for an extended period of five to 10 years.”Individual investors interested, must establish a firm worth $2.5 million for the five-year visa as per the government while a $5 million investment is necessary for the ten-year visa.This isnt the first timeSimilar golden visas for investors have been proposed by several nations throughout the world, including the United States, Ireland, New Zealand, and Spain, to entice capital and enterprising residents.The way to golden visaFor five-year visas for directors and commissioners, corporate investors must invest $25 million. They must invest twice as much, or $50 million in order to receive a 10-year visaGovernment bondsIndividual foreign investors, who dont intend to create a corporation in the Southeast Asian nation are subject to different rules. The required amount of money ranges from $350,000 to $700,000 is the cost, that can be utilised to buy Indonesian government bonds.
