Golden Visa (Investor)

Indonesia's Golden Visa for investors is a long-term residence program granting foreign nationals 5 to 10 years of stay in exchange for qualifying capital investments. Established by Government Regulation Number 40 of 2023 and implemented through the Regulation of the Minister of Law and Human Rights Number 22 of 2023 (amended by Regulation Number 11 of 2024), the program is administered by the Directorate General of Immigration. It was officially launched by President Jokowi on 25 July 2024 and targets foreign investors seeking to contribute to Indonesia's economy through company establishment, portfolio investment, or real estate acquisition.

Three investor sub-categories are available:

• E28B (Company Establishment): Individual investors establishing a company (PT PMA) in Indonesia. Minimum USD 2,500,000 for 5 years or USD 5,000,000 for 10 years.
• E28C (Passive Investment): Individual investors making passive investments without establishing a company. Minimum USD 350,000 for 5 years or USD 700,000 for 10 years. The 10-year tier alternatively accepts USD 1,000,000 in real estate (apartment purchase).
• E28D (Corporate): Directors and commissioners of foreign corporations establishing companies in Indonesia. The foreign parent company must demonstrate annual sales exceeding USD 2,500,000 (5 years) or USD 5,000,000 (10 years).

Acceptable passive investment instruments include government bonds, public company shares, mutual funds, and bank deposits through Indonesian financial institutions.

• Valid passport with minimum 12 months validity
• Recent color passport photograph
• Bank statement showing minimum USD 5,000
• Statement of investment commitment (to be fulfilled within 90 days of ITAS issuance)
• Proof of investment or business establishment documentation (depending on category)
• E28D applicants: audited financial statements of the foreign parent company
• E28C applicants: proof of monthly income or benefits of at least USD 5,000

The Golden Visa is valid for the full 5 or 10 year period without annual renewal. Immigration authorities conduct annual evaluations to verify that investment commitments are maintained. Non-compliance may result in visa revocation. At the end of the permit period, holders may reapply if they continue to meet investment requirements. The Golden Visa does not currently include a direct pathway to permanent residency (KITAP) or citizenship.

Spouses, children, and unmarried dependants under 18 may apply for dependent Golden Visas under the family reunion category. Each dependant must provide a valid passport (minimum 6 months validity), recent color photograph, bank statement showing minimum USD 2,000, and translated marriage or birth certificate. Dependent permits are issued for the same duration as the main applicant's visa and include the same immigration benefits.

• 5-year government fees: approximately IDR 21,000,000 (visa IDR 10,000,000 + ITAS IDR 500,000 + ITAS issuance IDR 7,000,000 + re-entry permit IDR 3,500,000)
• 10-year government fees: approximately IDR 32,500,000 (visa IDR 15,000,000 + ITAS IDR 500,000 + ITAS issuance IDR 12,000,000 + re-entry permit IDR 5,000,000)

Holders present in Indonesia for more than 183 days within a 12-month period become tax residents subject to worldwide income taxation at progressive rates from 5% to 35%. Foreign nationals who newly become tax residents may qualify for a 4-year territorial tax exemption (taxed only on Indonesian-sourced income) if they meet certain skill requirements. No special tax incentives are provided specifically for Golden Visa holders.

The application is submitted entirely online through the e-Visa portal (evisa.imigrasi.go.id):

1. Create an account and select the Golden Visa investor category
2. Upload required documents and pay fees online (Mastercard, Visa, or JCB)
3. Processing takes approximately 4 working days for preliminary approval, up to 40 business days for full processing
4. Upon approval, the visa and electronic permit (e-permit) are sent via email
5. Enter Indonesia and receive the limited stay permit (ITAS) upon arrival
6. Fulfil the investment commitment within 90 days of ITAS issuance
7. Report fulfilment to the nearest Immigration Office for verification

Holders receive a multiple-entry re-entry permit for the full duration, allowing unrestricted travel in and out of Indonesia.

E28B and E28D holders may work within their own established companies in Indonesia. E28C (passive investor) holders may invest and conduct business activities but cannot be employed by local companies.

The 90-day investment commitment window is strict; failure to invest within this period may result in ITAS revocation. For E28C (passive investment), the investment must be maintained throughout the permit duration. Withdrawing funds may trigger visa revocation during the annual evaluation. There is currently no provision for converting a Golden Visa into permanent residency (KITAP) or citizenship, which differs from the traditional Investor KITAS pathway.