As published on: thebalisun.com, Monday 14 August, 2023.
Indonesia is working to create huge changes within its immigration policy in order to promote foreign investment and attract international entrepreneurial and business talent.
Bali, the country’s most famous destination, is already a home away from home for thousands of digital nomads and innovators. Ministers have now confirmed that the ‘golden visa’ will be available to specific individuals by the end of the year.
Speaking to reporters after a recent press conference Indonesia’s Minster for Tourism and Creative Economies, Sandiaga Uno has revealed that the much antiquated ‘golden visa’ will be rolled out by the end of the year.
During the initial announcement of the new visa category, officials stated that the residency-by-investment style visa would be available by June 2023.
However, more policy adjustments and other administrative changes have delayed the launch.
Minister Uno told reporters, “We want to make sure that the Golden Visa offer is attractive for foreign tourists to invest and stay longer in Indonesia. We hope for certainty (launch) before the end of the third quarter.”
He confirmed that the Department of Immigration is working to ensure that the policies surrounding the Golden Visa are watertight.
Minister Uno added, “There are definitely negative impacts in every policy, including economic fluctuations and the principle of justice.”
Speaking in May 2023, at the time the first details about the Golden Visa were revealed, Minister Uno said that the new visa policy has been created to attract talent from around the world in the digital, health, research, and technology sectors.
Minster Uno said that the visa will be available with both a five-year and ten-year validity and that successful applicants will enjoy a series of exclusive benefits not yet on offer in other visa categories.
He suggested that these benefits may include faster and more simplified processes for visa applications as well as greater global mobility via the provision of multiple entries to Indonesia.
Naturally, longer stay periods will be a big bonus given the 5-10 year validity and, perhaps most significantly, the right to own assets within the country.
Minister Uno also suggested that those on the Golden Visa would be able to fast-track citizenship applications should that be of interest in the long term.
Of course, this new Golden Visa will come with a hefty price tag. Though officials have yet to suggest a figure. Last year the Department of Immigration launched a new second-home visa category.
The visa received some criticism from Bali lovers as applicants are required to show bank statements with at least IDR 2 billion (approx USD 130,000) in savings.
The news that the Golden Visa will be rolled out soon comes as officials across Indonesia have been voicing their concerns about the future of tourism in Bali.
Amidst a rise in unruly behavior by some tourists on the island, leaders have been exploring new ways to encourage more ‘high quality and high spending’ tourism.
Both the Golden Visa and the Second Home Visa are targeting high net worth individuals who wish to invest serious amounts of cash into the county.
So what about tourists?
What options are still available for respectful tourists who wish to spend their hard-earned income on a trip of a lifetime in Bali?
It remains the case that the best visa option for tourists to Bali is the Visa on Arrival or the e-Visa on Arrival.
Both visas entitle travelers from 92 nations to up to 30 days in Indonesia; the visa costs IDR 500,000 and can be extended once for a second 30-day period for an additional IDR 500,000 fee.
For those looking to stay in Bali for longer periods of time, options like socio-cultural visas may be more appropriate.
The visa on Arrival can be paid for and arranged upon landing at I Gusti Ngurah Rai Airport in Bali or any other international airport in Indonesia.