2023-End to See Bali’s Golden VISA Coming Into Effect

Indonesia is reviving its plans for a “Golden Visa” program targeted at high-value tourists, with government officials confirming that the new visa category will be launched by the end of the current year. This initiative is designed to offer international travellers an extended stay in the enchanting Indonesian islands, primarily catering to Bali’s burgeoning community of digital nomads and expatriate entrepreneurs.

Golden Plans

Sandiaga Uno, the Minister for Tourism and Creative Economies, announced during a press conference that the long-anticipated ‘Golden Visa’ is on track for implementation by the conclusion of 2023. The aim is to make the visa option enticing to foreign tourists, encouraging increased investment and prolonged stays within Indonesia. Uno expressed optimism about providing clarity on the launch date before the third quarter’s end.

Distinct from the existing Visa on Arrival (VOA) and electronic Visa on Arrival (e-VOA) programs, the upcoming ‘Golden Visa’ will introduce a unique “residency-by-investment style visa.” This initiative, originally projected for a June release, was unveiled during the 2022 G20 Bali summit. Under the ‘Golden Visa,’ non-citizens will gain entry into Indonesia for periods ranging from 5 to 10 years and will also have the opportunity to own property in Bali.

Why is it Important?

Highlighting its significance, Minister Uno emphasised that the ‘Golden Visa’ is designed to expedite the path to citizenship while contributing to the government’s ambitious goal of generating 4.4 million new jobs within Indonesia’s creative sectors by 2024.

While specific details regarding the cost and application timeline remain unclear, it is worth noting that other proposed investment visa categories, such as the Second-Home Visa, are associated with substantial financial commitments. The residency-class permit, tailored for retirees and investors, mandates proof of income and a bank statement reflecting a minimum of 2 billion rupiah (approximately $200,000) in savings, granting validity for a period of 5 to 10 years.

This announcement follows a period of policy adjustments aimed at refining Indonesia’s approach to international tourism. Recent stringent measures have been taken to curb visa abuses, resulting in the deportation of five foreign nationals due to violations including visa overstay and misuse of residence permits.

In response to these challenges, Balinese authorities established the Bali Becik Task Force, tasked with overseeing immigration controls and mitigating violations of laws and norms by foreigners. This task force is set to undergo a comprehensive review at year’s end, with its mandate extending until December 31st.

As Indonesia prepares to unveil the ‘Golden Visa’ program, the nation anticipates a renewed surge in interest from global visitors seeking extended stays and investment opportunities in its captivating landscapes.