Indonesia is shaking up its immigration policy to attract foreign investors and draw global entrepreneurs. Bali, the nation’s most iconic destination, is already a hub for countless digital nomads and creative thinkers. Now, officials have confirmed they are gearing up to launch the ‘golden visa’ by the end of the year. Sandiaga Uno, Indonesia’s Minister for Tourism and Creative Economies, revealed details about this exclusive visa in a press conference this month.

A few policy tweaks and administrative twists have nudged the launch date. Uno told reporters, “Our aim is to make the Golden Visa enticing for foreign tourists, inviting them to invest and extend their Indonesian stay. We’re gunning for a definite rollout before the third quarter ends.”

Uno also said that the Immigration Department is working on every detail of the Golden Visa policy. Minister Uno emphasized, “Every policy has its cons, including economic ups and downs and principles of fairness.”

In May 2023, when officials detailed information about the Golden Visa, Minister Uno revealed that the new visa blueprint aims to lure talent from around the globe, especially in digital, health, research, and technology domains.

A Game Changer in Indonesia’s Immigration Policy

Expect this exclusive visa to have both five-year and ten-year options. It will offer holders a slew of perks not found in other visa brackets. These benefits could include quicker, simpler visa applications and broader global mobility via multiple visits to Indonesia.

The extended visa validity is a game-changer, allowing for longer stays and, importantly, granting ownership rights within the country. Minister Uno even hinted that Golden Visa holders might fast-track their citizenship dreams in the long run.

While the exact price for the Golden Visa is still under wraps, it’s expected to be substantial. Notably, the Immigration Department introduced a second-home visa category last year, which raised eyebrows for demanding applicants to flaunt bank statements sporting a minimum of IDR 2 billion, approximately $130,000, in savings.

The imminent Golden Visa launch coincides with growing concerns about Bali’s tourism future. Amidst instances of misbehavior by certain tourists on the island, policymakers are hunting for innovative strategies to attract a more discerning, big-spending crowd. Both the Golden Visa and the Second Home Visa are tailor-made for high-net-worth individuals eager to make hefty investments in the country’s growth.