Introduced in Peraturan Pemerintah (\u201cPresidential Decree\u201d) 40\/2023 on August 4th 2023, and further mentioned in Peraturan Menteri Hukum dan HAM (\u201cRegulation of the Minister of Law and Human Rights\u201d) 22\/2023 as well as Peraturan Menteri Keuangan (\u201cRegulation of the Minister of Finance\u201d) 82\/2023 on August 30th 2023.<\/span> The<\/span> \u2019<\/span>Golden Visa’ is the agglomeration of\u00a0 Limited Stay Visa, Limited Stay Permit, Permanent Stay Permit, and Permit to Return for a certain period of time.<\/span> This visa was created for the purposes of: Investment activities, Family reunion, Repatriation, as well as \u2018Second Home\u2019 activities and can last for as long as either 5 or 10 years. Thus, giving even more advantages compared to the common visas.\u00a0<\/span><\/p>\n Basically, the difference lies in the amount\/value of \u2018investment\u2019 the investor is willing to make. There are 6 (six) categorization of rate to make such investment:\u00a0<\/span><\/p>\n These funds can be used to buy Indonesian government bonds, public company shares or place savings\/deposits in Indonesia.<\/span><\/p>\n For the purposes of repatriation and \u2018second home\u2019 activities.\u00a0<\/b><\/p>\n Commonly, <\/span>a grantor<\/span> is required for the application of visa in general. However, in the cases of repatriation and \u2018second home\u2019 activities Golden Visa application purposes, an \u2018<\/span>immigration guarantee<\/span>\u2019 can be used instead. Replacing the need to have a grantor that would usually be required.<\/span> Further, it acts as immigration officer’s instrument to evaluate and score the advisability of foreigners\u2019 experience throughout their residence in Indonesia.<\/span><\/p>\n For the purpose of family reunion.<\/b><\/p>\n An <\/span>appointee is required to act as the responsible person<\/span> during a foreign citizen\u2019s stay in Indonesia. This \u2018responsible person\u2019 can be chosen from either of these criterias:<\/span><\/p>\n Whatever mechanism a foreigner chooses, either through the appointment of a grantor or enactment of Immigration Guarantee, these mechanisms can be altered in between and as long as it follows Indonesia\u2019s governing rules<\/span><\/p>\n An \u2018Immigration Guarantee\u2019 puts the foreigner as the person responsible for themselves, hence they are responsible to report changes surrounding their own status, which includes: civil, immigration, and change of address.<\/span> Furthermore, there are 8 (eight) mechanisms to gain an \u2018Immigration Guarantee\u2019, these are:<\/span>\u00a0<\/span><\/p>\n The deposit of funds will be conducted after the foreigner\u2019s entry into Indonesia by placing their funds into an account under their own name in Indonesia\u2019s state-owned bank.<\/span><\/p>\n Foreigners fulfil and submit their commitment to the directorate generale, head of immigration office, or selected officials.\u00a0<\/span><\/p>\n Regulation of the Ministry of Human Rights and Law 22\/2023 has described several points regarding the facility benefits of holding a golden visa:<\/span>\u00a0<\/span><\/p>\n Aside from these facility benefits that come with foreigners’ administrative process to obtain ITAS (Limited Stay Permit). The Golden Visa also provides a determinedly longer stay (5-10 years) than the average ITAS holder of 1-2 years. Thus, giving foreigners the liberty of not having to undergo the gruelling administrative and heavily bureaucratic process of gaining an ITAS as well as fulfilling the minimum requirement of 5 years stay in Indonesia for Indonesian citizenship application.<\/span>\u00a0<\/span><\/p>\n Just as the name suggested, ITAS (<\/span>Izin Tinggal Terbatas<\/span><\/i> or Limited Stay Permit) provides foreigners the liberty to conduct businesses that are in accordance to their purpose for entering into Indonesia. These are essentially for: tourism, social, and business functions. The details of such visa can be read <\/span>here<\/span><\/a>.<\/span><\/p>\n The Golden Visa is the most recent visa instrument the government of Indonesia created as a way to boost Indonesia\u2019s post-pandemic economic recovery and to implement the doctrine of selective policy \u2018<\/span>prinsip kebijakan selektif<\/span><\/i>\u2019.<\/span> The visa provides you with more benefits, such are: a more prolonged stay duration, ease of leaving and entering Indonesia, and efficiency because there is no longer a need to apply for an ITAS at the immigration office.\u00a0<\/span><\/p>\n Having only been regulated for its implementation, the Golden Visa is <\/span>NOT YET <\/b>implemented. The regulation itself will only be implemented in the next 6 months, according to statements provided by Silmy Karim (Immigration Directorate General of Indonesia) in recent interviews. In the meantime, however, the process for its implementation has been stated in several prior regulations (as mentioned above). Thus the public is already let known of this upcoming regulation and is expected to start adapting to the idea. Which can prove to be difficult for the wide-range intricacies the concept encapsulate.\u00a0<\/span><\/p>\n This is where Selaras comes in! We at Selaras provide comprehensive legal conultancy and services that will guarantee you clarity and efficiency for the purposes of your legal concerns. Read more about our company in this section below.\u00a0<\/span><\/p>\n\n
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Tell me more about the requirements and provisions for investment purposes of golden visa<\/b><\/h2>\n
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What about the requirements for other applicants that are not investors.\u00a0<\/b><\/h2>\n
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I\u2019m still confused, what exactly is an \u2018Immigration Guarantee\u2019<\/b><\/h2>\n
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Okay, I\u2019ve chosen my preferred mechanism, what do I do next.<\/b><\/h2>\n
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Mechanism through the deposit of certain number of funds:<\/span><\/h2>\n<\/li>\n<\/ol>\n
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Mechanism through form of commitment:<\/span><\/h2>\n<\/li>\n<\/ol>\n
Alright, I get the jizz of it. But my main question, will I be able to legally work with this visa? What rights will I acquire?<\/b><\/h2>\n
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Overall\u2026<\/b><\/h2>\n
SELARAS COMPANY PROFILE<\/b><\/h2>\n
Source<\/b><\/h3>\n
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