President Joko Widodo working on golden visa policy to attract foreign investors

President Joko (Jokowi) Widodo, is currently finalizing the Golden Visa policy, which will allow foreign citizen to apply for residency and citizenship through investment. 

This announcement was made by Sandiaga Salahuddin Uno, the Minister of Tourism and Creative Economy after a closed-door meeting at the Presidential Palace. 

Sandiaga stated that the government is preparing the legal framework and plans to issue the Golden Visa policy in the near future. The Ministry of Law and Human Rights will oversee the regulation of the Golden Visa policy.

Attracting quality resources and boosting investment

Sandiaga explained that the objective of the policy is to attract high-quality resources in various fields. 

He noted that the much-needed human resources include those in the areas of digitization, healthcare, research, and technology. In addition, Sandiaga believed that the policy will drive domestic investments and create job opportunities.

“The world has a great demand for talent in the digital economy. We hope that Indonesia becomes the epicenter for future economic development,” Sandiaga said on May 29, 2023. 

Additionally, Sandiaga believed that the Golden Visa policy can contribute to the government’s sustainability programs, because Indonesia has significant carbon absorption capacity. 

Sandiaga further added that the primary target audience for the Golden Visa are digital nomads, and he believed that the program can transform the domestic tourism industry.

Minister of law and human rights calls for thorough research

Yasonna Hamonangan Laoly, the Ministry of Law and Human Rights, stated that the Golden Visa policy can attract foreign investors to develop businesses and invest in Indonesia. 

For this reason, Laoly requested the policy to be implemented after thorough research and comparison with other countries. 

He also hoped that the Directorate General of Immigration will consider global trends and situations while formulating the Golden Visa regulations. 

Laoly urged his staffs to study the success of other countries in attracting foreigners through simplified visa procedures.

“In line with President Jokowi’s directive to promptly prepare the golden visa policy in Indonesia through intensive communication with all relevant ministries, institutions, and stakeholders,” said Laoly.

A study by Club Med said that Indonesia is considered one of the best countries for digital nomads. Jimbaran, a fishing village in Bali, was ranked as the fifth-best location for digital nomads. 

This destination offers an ideal setting for digital nomads to experience Indonesian culture, from ancient sea temples to local fish markets on the beach. Living costs in Jimbaran are relatively low, around IDR 9.7 million per month, making it an affordable area to explore. With a security score of 4.28 out of 5, Jimbaran is regarded as one of the safest places for digital nomads.

The implementation of the Golden Visa policy is expected to bring numerous benefits to Indonesia, including attracting skilled individuals, stimulating investment, and transforming the tourism industry.

As the government works on finalizing the necessary regulations, the country eagerly awaits the opportunities that the Golden Visa program will bring.