Indonesia offers "golden visas" to lure foreign investors

Jakarta, Indonesia

Indonesia is introducing a new visa scheme to lure foreign individuals and corporations in an attempt to boost the country's economy.

"The golden visa guarantees a residence permit for a period of five to 10 years" , said the Director General for Immigration in Indonesia, Silmy Karim, through a statement.

The five-year visa requires individual investors to open companies worth $2.5 million, while the ten-year visa requires an investment of $5 million.

Other countries in the world, including the United States, Ireland, New Zealand and Spain, offer similar visas for investors.

As for investments from corporations, Indonesia will require an investment of 25 million dollars for a five-year residence permit and as much as 50 million dollars for a 10-year period./ REL

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