Hanoi (VNA) – Indonesian President Joko Widodo has announced that his country has launched a "golden visa" programme that allows investors and professionals with coveted skills to stay in the country for five or 10 years.
Accordingly, individual investors can invest 2.5 million USD in the Southeast Asian country for a five-year visa, 5 million USD for a 10-year visa.
Meanwhile, travellers can obtain a five-year visa by making a 350,000 USD deposit in a state-owned bank. A 10-year stay will cost a 700,000 USD deposit.
Companies, meanwhile, can obtain golden visas for directors and commissioners by committing to invest 25 million USD for a five-year stay and 50 million USD for a decade-long stay.
Investors in the new capital city of Borneo will receive a 5-year visa with investments worth 5 million USD, and a 10-year visa for 10 million USD.
President Joko Widodo said the visas are aimed at attracting high quality visitors and enabling foreign nationals to contribute more to the Indonesian economy.
Indonesian immigration chief Silmy Karim said that Indonesia began testing the golden visa last August, issuing such permits to almost 300 applicants and attracting 123 million USD.
The Indonesian administration is also considering a special status for foreign citizens of Indonesian origin, which is expected to be finalised in October./.
