Indonesia will introduce a new type of visa for business travel, extend the validity of a residence permit and simplify the conditions for obtaining one. The changes will take effect in February 2021. We tell you about future innovations.
Chief Development Officer at Immigrant Invest
How to obtain a residence permit in Indonesia in exchange for an investment in 2021
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The Indonesian government wants to attract more investors and wealthy foreigners to the country. For this, amendments to the law "On job creation" are being prepared.
There will be a new type of visitor visa for "pre-investment purposes". A foreigner will be able to obtain a visa in order to examine objects for investment on the spot and meet business partners.
It is not yet known for how long the new visa will be issued. The government is likely to adopt the same rules as for business visas. It can be issued for 60 days, with single or multiple entries.
The term of the residence permit for investors will increase. Now it is issued for one or two years. When the changes take effect, the residence permit can be obtained for 5 years.
The guarantee for foreign investors who want to obtain a residence permit will be abolished. Under the current rules, the investor provides a letter from an Indonesian guarantor who is willing to reimburse the state in the event of force majeure. For example, if the investor has to be deported from the country. Under the new terms, the investor does not need a guarantor - instead, the foreigner will pay a migration fee. Its amount is not yet specified.
There will be a new residence permit option for foreigners who want to move to Indonesia. The applicant will have to meet three conditions: pay the migration fee, provide police clearance certificate and take out medical insurance. The residence permit will be available for either 5 or 10 years.
Now the government is finalizing the amended bill. The deputies expect to accept it within three months. If they meet this deadline, the changes will take effect at the beginning of February 2021.
Russians lead the way in the number of tourists who visited Indonesia in 2019. During the year, around 158,000 people entered the country to relax or spend the winter in a warm climate. The islands of Bali, Java, Lombok and Flores are particularly popular.
Russian citizens have the right to enter Indonesia without a visa if they expect to spend no more than 30 days in the country.
In March 2020, Indonesia closed the border to tourists. The restrictions will remain in place until at least the end of 2020. But a foreigner can enter the country with a business visa or a residence permit.
It is possible to apply for a business visa online. It is issued for 60 days, after which it is extended for 30 days. A foreigner can extend the visa four times to stay in the country for up to six months.
A residence permit can be obtained for an investment of 1 billion Indonesian rupiah or from $70,000. The foreigner needs to open a business or invest in an operating company. The residence permit is granted for one or two years. The investor can enter and leave the country many times.
Wealthy Russians can invest a little more money and obtain citizenship in another island state with a warmer climate - in Oceania or the Caribbean.
A Vanuatu passport is issued for an investment from $130,000 into a government fund. The process takes just one or two months.
Caribbean citizenship can be obtained by investing from $100,000 in the country’s economy. The processing time is from 3 months.
Immigrant Invest is a licensed agent of citizenship by investment programmes. If you want to know which country is right for you, contact the investment programme experts for advice.
