Indonesia relaxes golden visa requirements for investors in new capital city

Indonesia
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Indonesia has relaxed golden visa requirements for investors in the new capital city of Nusantara, head of Directorate General of Immigration Silmy Karim said on Friday, Xinhua reports.

Foreign companies can now apply for a five-year resident permit if they invest at least 5 million U.S. dollars, far less than the previous minimum requirements of 25 million dollars.

Meanwhile, for investors who will stay for 10 years, capital investment requirements are relaxed to 10 million dollars from 50 million dollars, Karim said.

As of January 2024, 62 golden visas have been issued.

The government hopes that inflow of foreign capital can boost the economy of the new capital and its surrounding areas.

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