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Indonesia introduces new Golden Visa route
Indonesia recently introduced the Golden Visa route which authorizes certain categories of applicants (including investors) to reside in Indonesia for five or 10 years. On 22 August 2023, the Indonesian Ministry of Law and Human Rights issued Regulation Number 22 of 2023 on Visas and Residence Permits, which went into effect on 24 August 2023. The Regulation establishes into law the new Golden Visa route, which authorizes individuals to reside in Indonesia for up to 10 years and provides them access to priority services at immigration offices, check points and related entities. Individuals who successfully apply under the Golden Visa route will be granted a Temporary Stay Visa (VITAS), Temporary (ITAS) or Permanent Stay Permit (ITAP), and Re-entry Permit. The government is expected to begin accepting applications under the Golden Visa route within 60 days of the new law going into effect (i.e., 23 October 2023).
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.