Golden VISA: Investment Opportunities in Bali

Indonesia has currently issued a Golden Visa which can specifically be obtained by foreign investors. In January 2024, Indonesia has issued 62 Golden Visas 62 Golden Visas. The legal basis for implementing this Golden Visa is: Regulation of the Minister of Law and Human Rights (Permenkumham) Number 22 of 2023 concerning Visas and Stay Permits as well as Regulation of the Minister of Finance Number 82 of 2023 which was promulgated on 30 August 2023.

This visa allows investors to get more benefits than a general visa, namely in the form of the opportunity to stay for a longer period, apart from that, Golden Visa holders can also get the right to own assets in Indonesia. According from the Indonesian Ministry of Tourism’s website, there will be 10 types of Golden Visa, namely individual investors, business founder investors, investors who are not starting a business, ex-WNI diaspora, global talent, and digital nomads.Indonesia has issued 62 Golden Visas

What is a Golden Visa

The Golden Visa is a country’s immigration program specifically for investors who want to invest in that country. Indonesia is not the only country that has this program. It is estimated that the Golden Visa has been implemented in more than 60 countries. The Golden Visa program aims to attract foreign investment into Indonesia with the hope of encouraging economic growth and opening up job opportunities for the Indonesian people.

 Some examples of countries that have a golden visa scheme include:

  1. Greece
  2. Cyprus
  3. Italy
  4. Portugal
  5. Spanish
  6. USA
  7. Singapore
  8. Australia

Benefit For Golden Visa Holders

By holding a Golden Visa, you as an investor will get several benefits, including:

  1. Longer stay time in Indonesia
  2. Ease of entry and exit in Indonesia
  3. Efficient in processing ITAS (temporary residence permit)
  4. Carrying out business and investment activities
  5. Access to education and health services in Indonesia
  6. Freedom to do holiday activities, visit family and friends as long as you obtain the residence permit.

Procedure for Obtaining a Golden Visa

According to information published on the Immigration website of the Government of the Republic of Indonesia, there are several Golden Visas that you can choose according to the qualifications you have, including:

  • Index E33E
  • Index E32A Repatriation of ex-Indonesian citizens
  • Index E32B
  • Index E33 (Second House)
  • E28B Index (Foreign Investors Without Establishing a Company)
  • Index E28D
  • Index E28F
  • Index E31E
  • Index E31B
  • Index E33F
  • Index E33A
  • Index E33B
  • Index E31H
  • Index E32
  • Index E33C
  • E33D Index (World Figures)

In this article we will discuss in more depth the Golden Visa which is suitable for usefor individual investors, namely the type of visa Index E28B, Index E28C,Index E33

Costs for processing a Golden Visa

To obtain a Golden Visa, in general you have to pay a total fee of IDR 13,000,000 for a stay of 5 years while IDR 19,500,000 for a stay of 10 years, in this article we will also explain the cost components that need to be paid for each visa.

Visa Index E28B

A visa with the E28B index is a visa intended for foreign investors involving foreigners as individual investors with the aim of establishing a company in Indonesia. This visa has a stay permit of 5 – 10 years.

The rights you will get when holding this visa include:

  1. Carrying out activities related to business, investment and company establishment,
  2. Supervise the production process of goods or services in the company he founded, including but not limited to offices, factories or other similar places,
  3. Carrying out work in an employment relationship and/or attending education as long as it has gone through the dual mechanism of Stay Permit activities,
  4. Bringing family to live in Indonesia as long as it meets the provisions of laws and regulations in the field of immigration,
  5. Enter and exit Indonesian territory as long as the Re-Entry Permit is still valid,
  6. Carrying out tourism-related activities, and visiting friends or family.

Stay permit period 5 years (can be extended)

  1. A statement of commitment that the Foreigner will establish a company in Indonesia with issued capital (shares) or an investment value of at least US$ 2,500,000 which must be fulfilled within a maximum of 90 days from the date the Limited Stay Permit is granted.
  2. The amount of share ownership in companies abroad is at least 0%.
  3. The turnover/sales value for overseas companies is at least US$25,000,000.

Stay permit period 10 years (can be extended)

  1. A statement of commitment that the foreigner will establish a company in Indonesia with issued capital (shares) or an investment value of at least US$ 5,000,000 which must be fulfilled within a maximum of 90 days from the date the Limited Stay Permit is granted.
  2. The amount of share ownership in companies abroad is at least 0%.
  3. The turnover/sales value for overseas companies is at least US$50,000,000.

What cost components need to be incurred:

  1. Visa Fee: Rp. 500,000
  2. Verification Fee I/II: Rp. 2,000,000
  3. ITAS: 7,000,000 (5 Years)
  4. IMK: 3,500,000 (5 Years)
  5. ITAS: 12,000,000 (10 Years)
  6. IMK: 5,000,000 (10 Years)

Visa Index E28C

Visa with Index E28C is a limited visa for 5 – 10 years for foreign investors without the need to set up a company. This visa is suitable for individual investors who do not want to set up a company because they only need to invest in a predetermined investment instrument, namely government bonds; investment in public companies; as well as investing in a flat or apartment.

Stay permit period 5 years (can be extended)

  1. Passport valid for at least 6 months
  2. Latest color photo
  3. Proof of immigration guarantee
  4. Proof of stable finances while living in Indonesia
  5. Commitment statement that must be fulfilled within 90 days (from entry into Indonesia); such as purchasing Indonesian government bonds worth USD 350,000 (three hundred and fifty thousand US dollars) for a term of up to 5 years or purchasing shares or mutual funds in public companies in Indonesia worth USD 350,000 (three hundred and fifty thousand US dollars).

Stay permit period 10 years (can be extended)

  1. Passport valid for at least 6 months
  2. Latest color photo
  3. Commitment statement that must be fulfilled within 90 (ninety) days from the date of entry into Indonesia, such as; Purchase of Indonesian Government Bonds worth USD 700,000 (seven hundred US Dollars) for a period of up to 10 years or Purchase of shares or mutual funds in public companies in Indonesia worth USD 700,000 (seven hundred US Dollars) for a period of up to 10 years or Purchase of a flat or apartment worth a minimum of US$ 1,000,000 (one million US Dollars) for a stay of up to 10 years.

What cost components need to be incurred:

  1. Visa Fee: Rp. 500,000
  2. Verification Fee I/II: Rp. 2,000,000
  3. ITAS: 7,000,000 (5 Years)
  4. IMK: 3,500,000 (5 Years)
  5. ITAS: 12,000,000 (10 Years)
  6. IMK: 5,000,000 (10 Years)

Visa Index E33

A visa with Index 33 is a visa intended for a second residence for foreign nationals who wish to live in Indonesia. The conditions for applying for this visa are:

  1. A valid national passport that is still valid for at least 6 months;
  2. Proof of immigration guarantee;
  3. Proof of having living expenses for your stay in Indonesian territory;
  4. Recent color photograph.

Apart from general requirements, there are also special requirements that must be metwithin a maximum period of 90 days from the date the Limited Stay Permit is granted. by visa holders with Index E33, namely:

  • Statement of commitment to deposit funds in one’s own account at a state-owned bank worth at least US$130,000 or equivalent; or
  • A statement of commitment to purchase property in the form of a flat or apartment in Indonesia worth at least US$ 1,000,000 or equivalent.

What cost components need to be incurred:

  1. Visa Fee: Rp. 500,000
  2. Verification Fee I/II: Rp. 2,000,000
  3. ITAS: 7,000,000 (5 Years)
  4. IMK: 3,500,000 (5 Years)
  5. ITAS: 12,000,000 (10 Years)
  6. IMK: 5,000,000 (10 Years)

Visa Validity

  1. You must use it a maximum of 90 days after the visa is issued
  2. You need to pay attention to the difference between the visa validity period and the period of your stay.

Things You Can't Do

Even though you get a golden visa does not mean you are free to violate various laws and norms that apply in Indonesia, you are still obliged to comply with them, including:

  1. Staying in Indonesian territory beyond the period of residence permit,
  2. Carrying out work that is not in accordance with his residence permit

Get the Chance to Have a Golden Visa

The many benefits obtained by Golden Visa holders certainly make this difficult to miss, you can experience living in Indonesia, especially in Bali for a very long period of 5 – 10 years. Apart from that, you will get financial benefits because you can invest in Bali which is famous for its paradise for local and foreign tourists. Nusa Aurum as a property asset management company can help you invest in a villa in Bali with an ROI (Return on Investment) of 11-20%. So what are you waiting for, fill in the form below to get an attractive offer from us.

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