In our spotlight on APAC series we round up the latest developments across Asia Pacific. In this post we look at Indonesia’s introduction of the Golden Visa Programme and updates to Multiple Entry Business Visas (MEBV).
Indonesia – Introduction of the “Golden Visa” programme
The Indonesian Government has launched a ‘Golden visa’ initiative with the objective of attracting affluent foreign individuals and corporate investors. This programme offers a residency visa for 5-10 years, depending on the investment made.
Eligible applicants can establish a business in Indonesia by investing either US$2.5 million for a 5-year stay or US$5 million for a 10-year stay. Alternatively, for those not establishing/investing in business there is an option to deposit funds of US$350,000 for a 5-year Golden Visa or US$700,000 for a 10-year Golden Visa. Directors and commissioners of Indonesian businesses are eligible for a 5-year visa with a company investment of US$25 million, or a 10-year visa with a US$50 million investment.
Once granted the Golden visa, foreign nationals are exempt from the need to apply for a temporary stay permit (ITAS).
Indonesia – update to Multiple Entry Business Visa (MEBV)
The Indonesian government has made a significant policy shift expanding the rights of Multiple Entry Business Visa (MEBV) holders. This change allows foreign nationals with an MEBV to conduct audits, production quality control and inspections at their Indonesian branches. This visa was previously restricted to business meetings only. This modification is a notable advantage for foreign workers, as the MEBV’s year-long validity surpasses the shorter durations of previous business visas. Importantly, MEBV holders no longer need to undergo the tedious process of reapplying for a visa with each entry, streamlining their operations and promoting smoother business transactions within Indonesia.