Indonesia to Launch Golden Visa for Bali: What You Need to Know

In a strategic move to bolster foreign investment and tap into international entrepreneurial and commercial prowess, Indonesia is making sweeping revisions to its immigration policies.

At the forefront of this reform is the highly anticipated launch of the “golden visa” program, poised to entice a select cohort of individuals to the sun-soaked shores of Bali.

Bali, Indonesia Golden Visa

Bali, Indonesia’s program will be open to foreigners who make a significant investment in Bali, either in the real economy or in government bonds. Companies will need to invest at least US$50 million, while individuals will need to invest at least US$350,000.

The government has said that it will monitor the program closely and make adjustments as needed.

Here are some additional details about the Golden Visa program:

• The program is expected to be launched in the coming months.
• Golden Visa holders will be able to live, work, and study in Bali indefinitely.
• They will also be able to own property in Bali.
• Golden Visa holders will be subject to the same taxes as Indonesian citizens.
• The government has not yet released an application process or cost for the Golden Visa program.

Also Read: Bali: Foreign Tourists to Pay $10 Fee to Visit the Indonesian Island

Visa Validity and Other Benefits

Golden Visa holders will be granted a five- or ten-year visa and will be eligible for a number of benefits, including expedited visa application procedures, multiple entries to Indonesia, and longer stay periods.

They may also be eligible for a fast-track citizenship application process. Notably, the Golden Visa holders will be eligible for a number of benefits, including:

• Expedited visa application procedures
• Multiple entries to Indonesia
• Longer stay periods
• Eligibility for fast-track citizenship application process

Efforts to Attract Foreign Investment

The Golden Visa program is part of Indonesia’s efforts to boost its economy and attract foreign investment. The government hopes that the program will attract high-net-worth individuals who can make significant contributions to the Bali economy.

The program has been met with mixed reactions. Some have welcomed the program as a way to attract investment and talent to Bali, while others have expressed concern that it could lead to an increase in inequality and gentrification.

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Reactions to the Golden Visa Program

The Golden Visa program is a significant development for Bali and Indonesia. It remains to be seen how successful the program will be, but it has the potential to attract significant investment and talent to the region.

Here are some specific examples of how the Golden Visa program could benefit Bali:

• The program could attract foreign investment in the tourism sector, which is a major driver of the Bali economy.
• The program could attract foreign investment in the real estate sector, which could help to create jobs and stimulate economic growth.
• The program could attract foreign investment in the technology sector, which could help to boost Bali’s innovation and competitiveness.
• The program could attract foreign talent to Bali, which could help to improve the quality of education and healthcare in the region.

The Golden Visa program is a bold initiative by the Indonesian government. It remains to be seen how successful the program will be, but it has the potential to make a significant impact on Bali and Indonesia.