Indonesia is simplifying its immigration policies to encourage foreign investment and draw entrepreneurial individuals to the country. One notable initiative is the introduction of a “golden visa,” announced during the G20 Bali summit and set to launch before year-end. This residency-by-investment visa targets sectors like health, research, and technology, with the aim of generating 4.4 million new jobs in the creative industries by the next year.

The program will offer two options: a five-year or ten-year validity visa, providing numerous advantages, including property ownership rights in Bali, multiple entries into Indonesia, streamlined visa processes, and a potential fast track for citizenship applications. While the full program terms are still being finalized, individual investors will need to establish a company worth $2.5 million for a five-year visa and $5 million for a ten-year visa. Corporate investors, on the other hand, will be required to invest $25 million for a five-year visa and double that for a ten-year visa. Additionally, provisions for individual foreign investors who don’t wish to establish a company will range from $350,000 to $700,000 in funds to purchase Indonesian government bonds.

These new policies align with Indonesia’s efforts to make the country more accessible to foreign talent, entrepreneurs, and investors, potentially boosting economic growth and development.