The Minister of Law and Human Rights (“MOLHR”) has just launched a breakthrough visa category: the so-called Golden Visa through MOLHR Decree No. M.HH-02.GR.01.04 Tahun 2023 on Visa Classifications and MOLHR Regulation No. 22 of 2023 on Visa and Stay Permit, as amended by MOLHR Regulation No. 11 of 2024.
The Golden Visa offers significant benefits for foreigners who will be appointed as members of the board of directors or commissioners in an Indonesian subsidiary of a foreign company (PT PMA) based on investment levels, as follows:
- A maximum stay of five years for investments of at least USD 25 million.
- A maximum stay of ten years for investments of at least USD 50 million.
The Golden Visa is available for a maximum of 10 individuals per PT PMA and it offers additional privileges of:
- priority inspection lanes at immigration checkpoints;
- priority services at immigration offices; and
- priority services from the relevant government ministries and agencies.
Compared to the previous regime where the Limited Stay Visa (working purpose) is granted for maximum of 2 years only, regardless of the investment amount, this new visa category is considered by practitioners as another improvement by the Indonesian government to attract foreign investments.