Director general of immigration at the Law and Human Rights Ministry Silmy Karim conveyed this information during the "Golden Visa Towards Golden Indonesia 2045" webinar, which was followed from here on Thursday.
Karim said that most Golden Visa applicants are parking their investments in the banking sector.
These investments are in the form of savings and bonds, which are instruments to invest in the capital market or government bonds, he expounded.
"Apart from that, there are also many (applications) for second home visas," he added.
He said that the Golden Visa is an effort by the Immigration Directorate to support the national economy by allowing foreign investors to live in Indonesia for a period of 5–10 years.
Investors who wish to apply for a Golden Visa need to meet a number of requirements. For example, individual investors need to invest around USD350 thousand to USD700 thousand.
Meanwhile, high-ranking investors such as members of boards of directors or holding company representatives need to invest in the range of USD25 million to USD50 million.
"Immigration is not only limited to conducting inspections at airports or seaports or only related to ordinary visit visas. Immigration also has a role to benefit people," he said.
The Golden Visa was launched by President Joko Widodo (Jokowi) on July 25. In addition to international investors and business players, foreign tourists who meet the criteria as well as global talents can also apply for the visa.
National football team coach Shin Tae-yong is one of the Golden Visa recipients under the global talent category.
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Translator: Putu S, Kenzu
Editor: Rahmad Nasution
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