"The Golden Visa is an instrument to attract investors to be able to stay longer in Indonesia," Lahadalia stated when met at the Presidential Palace in Jakarta on Wednesday.
According to the minister, the Golden Visa policy will allow investors entering Indonesia to stay longer in the country since they are not required to routinely renew their visas.
"For example, if their investment value is Rp30-40 billion, we can give visa for five to 10 years," he remarked.
However, he said that the Ministry of Law and Human Rights would have a better understanding regarding details in changing rules for the Golden Visa.
Nevertheless, he highlighted that the Golden Visa could also be given to certain people with special skills or retired people with high incomes.
Earlier, this year, Minister of Law and Human Rights, Yasonna Laoly, stated that the Golden Visa policy, based on President Joko Widodo's (Jokowi's) directive, was to be included as one of the six work focuses of the Directorate General of Immigration at his ministry in 2023 to expedite immigration services.
Meanwhile, on Monday (May 29), President Jokowi held a meeting to discuss implementation of the Golden Visa policy at the Presidential Palace.
Quoting from the Setkab.go.id page, the Golden Visa refers to a residence permit scheme through investment, or residency by investment, based on the definition of the Organization for Economic Co-operation and Development (OECD).
This policy is implemented by a country through the mechanism of granting residence permits or citizenship to foreign citizens through investment or paying a certain fee.
Foreigners with Golden Visa will enjoy exclusive benefits that are not received by visa holders in general, such as easier and faster procedures and requirements for visa applications and immigration matters, mobility with multiple entries, longer stay periods, the right to own assets within the country, and included in the fast-track to apply for citizenship.
Minister of Tourism and Creative Economy Sandiaga Uno said the Golden Visa would have a validity period of five to 10 years while expressing hope that this policy would not only increase investment but also employment and tourists.
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Translator: Gilang Galiartha, Resinta S
Editor: Azis Kurmala
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