Are you thinking about investing in Bali’s real estate in 2024?
Indonesia introduced a Golden Visa program in September 2023 for those interested in Bali’s booming real estate market. This program is a big deal for property investors.
It offers many perks that make investing in Bali’s properties easier. This is especially great if you’re fed up with constantly renewing your visa.
Let’s dive into how to make the most of this and use it to benefit your investment plans.
Introducing Golden Visa
Indonesia launched its Golden Visa program in September 2023, offering long-term residency options for significant investors.
Holders of the Golden Visa in Indonesia will benefit from streamlined and quicker visa and immigration processes, the ability to come and go multiple times, extended stays, property ownership rights, and a quicker path to citizenship.
This program builds on the “second home visa program” introduced in October 2022 and is anticipated to be operational by the end of September 2023.
Who is this for?
Indonesia has a Golden Visa program that is specially for foreign investors who want to buy real estate in Bali.
Based on your investment type, this program offers you a chance to live in Indonesia for 5 to 10 years.
Who is eligible?
- Investment criteria for individuals not looking to start a company in Indonesia:
- 5-year visa: Individuals not setting up a company need to invest in stocks, savings, or bonds for $333,900
- 10-year visa: investment minimum of $667,800 in stocks, savings, or bonds.
- For individuals wanting to establish a company in Indonesia and apply for the Golden Visa, the investment required is:
- 5-year visa: $2.39 million
- 10-year visa: $4.79 million
- Directors and commissioners aiming for the Golden Visa need to make significant investments in their Indonesian companies:
- 5-year visa: minimum investment of $23.94 million or
- 10-year visa: $47.88 million.
Benefits of Owning a Golden Visa
Tired of renewing your visa every few years?
The Indonesian Golden Visa program, launched in September 2023, is designed to make investing in Bali easier.
Here are some benefits of a Golden Visa for you:
- Long-term residency:
The program offers a residence permit valid for either 5 or 10 years, eliminating the need for frequent visa renewals.
- Work and ownership rights:
Golden Visa holders can live and work in Indonesia. Unlike previous investor visa holders, they don’t require additional permits for work or residence. They are also allowed to own property in the country.
- Multiple entries:
This visa allows for multiple entries into Indonesia, providing flexibility for travel.
- Potential tax benefits:
While details are not entirely clear yet, there are reports of tax exemptions on certain types of income for Golden Visa holders.
It’s important to note that the program is relatively new, and some specifics are still being processed.
For the latest information and a more comprehensive understanding of the program, it’s advisable to consult with Indonesian Immigration authorities or reputable immigration experts.
How to apply for a Golden Visa?
Here’s a general roadmap for how foreigners can apply for the Indonesian Golden Visa (it’s always best to consult directly with Indonesian authorities for the latest updates):
Step 1: Check Eligibility
To apply for Indonesia’s Golden Visa, start by ensuring you meet the strict eligibility criteria focused on significant investment in the country based on the eligibility above.
Step 2: Find Out Where to Apply
Contact the Indonesian Directorate General of Immigration (DGI) or visit their website for official application procedures and designated offices.
Step 3: Prepare the Required Documents
This will likely involve:
- A completed application form
- Valid passport with sufficient validity (typically 6 months or more)
- Proof of investment (depending on your chosen category)
- Medical certificate
- Police clearance certificate from your home country
- Passport photos
- Other documents, as specified by the DGI
Step 4: Submit Your Application
Once everything is prepared, submit your application to the designated DGI office or follow their online application process (if available).
There may be associated fees, so be prepared to cover those.
Step 5: Wait for Processing and Approval
Processing times can vary, so be patient. Once approved, you’ll receive your Golden Visa and enjoy long-term residency in Indonesia.
Additional Tips:
- Consider consulting an immigration lawyer or agent familiar with the Golden Visa program. They can guide you through the process and ensure your application is complete.
- Stay updated on any changes to the program by checking the DGI website or reliable news sources.
Remember, this is a general guide. Always refer to official Indonesian immigration channels for the most recent and accurate application process.
Conclusion
The Indonesian Golden Visa makes investing in Bali’s real estate simpler and more rewarding.
This program offers you a chance to live in Bali, own property, and enjoy possible tax benefits. It addresses common hurdles for foreign investors…
Depending on your property type, it also offers various investment opportunities.
Investing in Bali with the Golden Visa means easy access to Bali’s investment market.
Are you thinking about Bali for investment? What interests you most about the Golden Visa program?
