Indonesia is undergoing a major immigration reform. On July 25, 2024, President Joko Widodo introduced the 'Golden Visa' as a tool to attract wealthy foreigners and boost economic growth.
In the first five months, the program approved 471 applications and attracted $558 million, with an average contribution of $1.2 million, significantly higher than the minimum threshold of $350,000–700,000.
Key Parameters
The 'Golden Visa' grants the right to reside for 5 or 10 years. The investment threshold is $350,000 for a five-year status and $700,000 for a ten-year status. Document verification and issuance of an electronic visa take about 7 working days, while preparing the full package takes 3–4 weeks. Working with a licensed agency significantly simplifies this process.
Investment Options
- Government bonds — minimum $350/700,000, moderate returns, funds are locked for the duration of the visa.
- Bank deposit — same threshold, money placed in an Indonesian bank; the account is opened personally.
- Shares in Indonesian public companies — a more dynamic instrument with market risks.
- Real estate (only 10-year visa) — at least $1 million in apartments; direct land ownership remains closed.
- Business creation (PT PMA) — $2.5 million for 5 years or $5 million for 10 years; requires proven overseas turnover of $25–50 million and charter capital of at least 10 billion IDR (≈ $645,000). Such an investor automatically receives a work permit.
There is also a separate Second Home Visa: placing $130,000 in a state bank account is sufficient, but one cannot work with it.
New Platforms and Incentives
Two special projects in Bali provide additional benefits: Sanur Health & Wellness SEZ (41 ha, target investment volume — $620 million) and Kura Kura Bali SEZ on Serangan Island (498 ha, forecast — 35,000 new jobs). SEZ investors are granted tax holidays of up to 20 years, VAT exemption, and priority application processing.
Benefits of the Status
Holders of the 'Golden Visa' pass through a separate border corridor, can leave and return freely without an Exit Permit, and include spouses and children in the application without additional investments. Applications are filled out separately for each family member, with the visa cost paid for spouses and children under 17. After six months, national medical insurance BPJS (from 42,000 IDR per month) becomes available, and children can study in international and private schools in Bali.
Restrictions
- There is currently no direct transition to permanent residence (KITAP) — the issue is being discussed at the Ministry of Home Affairs level.
- Tax residency occurs under the general rule of 183 days per year; a progressive rate of 5–35% applies, corporate tax is 22%. There are no special benefits for program participants, but tax holidays and investment deductions via SEZ or 'pioneering industries' status are possible.
- Land remains inaccessible to foreigners for direct ownership; leasehold schemes (25–30 years) and Hak Pakai (30 years + extensions up to 80 years) are popular. Full 'freehold' is only possible through a corporate structure PT PMA.
Application Procedure
- Choosing the investment path and confirming the source of funds.
- Preparation of documents: apostilles, certified translations, audit reports.
- Opening a bank account in Indonesia (personal presence required).
- Submitting the application through the e-Visa portal; approval comes within a minimum of five working days.
- Making the investment within 90 days of approval. The full cycle is 3–4 weeks. The most frequent rejections are due to incomplete financial confirmations and passports with less than three years of validity.
Comparison with Regions
- Malaysia (MM2H) — from $150,000, requires investment in real estate and 90 days of annual residence.
- Thailand (Elite Visa) — $18,000 for 5 years, no investment, but also no returns.
- Singapore (GIP) — from $7.4 million, gives permanent residence and a path to citizenship.
- Philippines (SRRV) — $20–75,000, permanent status.
- Cambodia (CM2H) — $100,000, passport possible in 5 years.
- Vietnam — $150,000–4 million, there is a path to permanent residence.
Why Bali?
The island remains a flagship for tourist and investment demand: housing prices grow by an average of 7% per year, and renting villas and apartments yields 7–15% annually. In 2024, Bali received 6.3 million foreigners; leading markets are Australia, India, and China. The construction of the northern airport (project for 32 million passengers), the 96-km toll road Gilimanuk-Mengwi, LRT lines, and the Paramount theme park enhance long-term attractiveness.
The 'Golden Visa' is the fastest way to settle in Indonesia and build capital in a growing Southeast Asian economy. While the program is young and conditions are flexible, the investor has the opportunity to lock in minimum thresholds and take advantage of SEZ tax incentives before regulations tighten. With proper preparation and support from local consultants, this tool becomes a convenient bridge to the Asian market and life on one of the world's most attractive islands.
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