Indonesia is gearing up for changes in its immigration policy to attract foreign investment and international business talent.
Bali, Indonesia's top destination, is already a haven for digital nomads and innovators. Government officials have confirmed that the Golden Visa will be available to investors by the end of this year.
Sandiaga Uno, Indonesia's Minister for Tourism and Creative Economies, shared the news after a recent press conference, saying, "We want the Golden Visa to be appealing for foreign tourists to invest and stay longer in Indonesia. We aim to launch it before the end of the third quarter."
He also mentioned that the Department of Immigration is working diligently to ensure the Golden Visa's rules are clear.
Initially, the Golden Visa was set to launch in June 2023, but policy adjustments and administrative refinements have caused delays.
Back in May 2023, when the first details about the Golden Visa came out, Uno explained that it aims to attract global talent in fields like technology, healthcare and research sectors.
The Golden Visa will come with both five-year and ten-year options, offering exclusive benefits not available in other visa categories, such as simpler visa applications and more freedom to enter Indonesia multiple times.
Uno also hinted that Golden Visa holders might be able to apply for citizenship more quickly if they plan to stay long-term. However, the Golden Visa is expected to be costly, although specific costs have not been revealed.
Last year, the Department of Immigration introduced a new second-home visa category, which faced criticism from Bali fans because it requires applicants to show bank statements with at least IDR 2 billion (approximately $130,000) in savings.
The news of the upcoming Golden Visa launch comes at a time when Indonesian officials are concerned about the future of tourism in Bali, particularly due to the rise in unruly tourist behavior. They are actively exploring ways to attract higher-quality, higher-spending tourists to the island.