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InCorp offers a comprehensive range of solutions to ease the company registration process and help you create a viable roadmap for your business.
Get assistance from experts with a decade of experience in assisting international business owners expanding into Indonesia.
Avoid any bureaucratic complexity when closing your company by engaging with our experienced legal advisors.
What type of legal entities should you choose to register a company in Indonesia? We can assist you in choosing which is the best one to grow your business.
To help businesses survive during this unfortunate time, InCorp provides corporate recovery in Indonesia and insolvency services.
Granting an environmental permit in Indonesia needs an Environmental Impact Analysis (AMDAL) in advance.
Obtaining property & land ownership in Indonesia offers some challenges for foreigners. However, buying property in Indonesia is attainable with specific resources and documents.
Recent regulatory changes have a knock-on effect on Indonesia's Merger & Acquisition landscape. Check on how we can navigate you through your M&A in Indonesia.
InCorp provides Virtual Office services Indonesia in various locations: Jakarta, Bali, Semarang, Surabaya, and Batam.
Business process outsourcing in Indonesia is a viable option to streamline bureaucratic complexities that hurdle your business expansion objectives.
InCorp offers a complete range of accounting service Indonesia, from tax reporting to auditing.
With professional financial audit services from InCorp, you can ensure all accounting activities are accurately recorded and compliant with Indonesian regulations.
Using an Employer of Record service to set your roots in Indonesia opens the doors to new opportunities in the country.
Financial and Operational Resilience services from InCorp are developed to support businesses and help them survive during this difficult time.
Payroll services in Indonesia are a practical solution to avoid unnecessary complexities while you focus on growing your business.
Using a recruitment agency in Indonesia will help you hire the best candidates for your company, saving you time and money.
Tax consulting in Indonesia are the shortcuts to fulfill the administrative obligations with high accuracy and in a timely manner.
The Indonesian government promotes tax holidays as one of the fiscal incentives to attract major foreign direct investment in Indonesia.
Operating businesses in Indonesia, entrepreneurs must comply with the regulations accordingly, especially concerning taxes.
Immigration in Indonesia is one of the strictest and most complex processes due to its ever-changing regulations. InCorp provides a seamless experience in obtaining your stay and work permits.
Avoid any hassles by engaging with an experienced visa agent in Indonesia.
A dependent visa Indonesia is a document that allows foreigners to bring their family while settling down in the country.
Investor KITAS Indonesia is a stay permit that offers many benefits to investors that invest in the country.
Overseas Visas are required for Indonesians who are planning to stay abroad for an extended period of time.
KITAP is a permanent stay visa for foreigners who have intentions to stay in Indonesia.
Foreign retirees often find their plans stuck due to the complex visa application process. InCorp helps expedite the process.
Obtaining a social visa is daunting if you are not familiar with the country’s complex bureaucratic processes. Consult with us for a seamless Indonesian visa application experience.
Foreigners married to an Indonesian citizen are eligible for a spouse-sponsored KITAS.
Learn how to obtain an Indonesian tourist visa seamlessly and securely, directly from a trusted visa and travel agent.
Get assistance from a trusted visa agent in Indonesia to make your traveling plan to Indonesia even more convenient.
Expedite your Indonesian work permit application process by engaging with a trusted visa agent.
All imported goods must obtain permission granted by specific governing bodies prior to entering the local market.
Learn more about the cosmetic product registration services in Indonesia.
Learn more about exporting goods to Indonesia.
Learn more about the food & beverage product registration services in Indonesia
Learn how to go through halal certification in Indonesia directly from experts successfully.
Learn more about the health supplement product registration services in Indonesia.
Learn more about the household product registration services in Indonesia.
Learn more about importing goods from Indonesia
An Importer of Record in Indonesia is a legal service that enables companies to import products into Indonesia, through an import partner.
Learn more about the medical device registration services in Indonesia.
Register a trademark is necessary to avoid legal issues in the future. InCorp can help you with Trademark Registration services in Indonesia.
Compliance is one of the most challenging parts of business overseas, especially in a country packed with complex bureaucratic processes such as Indonesia.
Updating business documents to align with your company’s growth can be a hassle.
Due Diligence services are needed to assess the credibility of the company or partner you wish to work with or acquire in Indonesia
From Company Regulations to Employment Agreement Drafting, Employment law services from InCorp will help you to compliance with employment policy in Indonesia.
InCorp’s legal consultation services in Indonesia are crafted to help your business settle and fully comply with the latest regulations.
Organizations must continuously evolve and transform to remain competitive and relevant in todays global environment ...
Companies face many opportunities and challenges as a result of a changing market and regulatory landscape ...
Adopting Environmental, Social, and Corporate Governance (ESG) practices can improve your company’s value ...
Risk Management services from InCorp Indonesia can assist companies in building confidence when making future business decisions ...
Transfer Pricing in Indonesia occurs when a company performs an internal transaction within the same business group or its subsidiaries
InCorp's transfer pricing advisory services in Indonesia are marked by the objective to support our clients' business needs.
Our transfer pricing services provide you with a hassle-free experience while still complying with the legal aspects of transfer pricing in Indonesia.
As the market-entry consulting firm in Indonesia, InCorp provides a wide range of customized solutions to ease the business incorporation process.
Both natural and legal persons are entitled to open a bank account in Indonesia. Find out how to open a bank account in Indonesia, here.
InCorp can help you find a trusted Buying Agent Indonesia for product sourcing in Indonesia. Contact us now for a free consultation.
InCorp can help foreigners to get the driving license in Indonesia, whether SIM A or SIM C. Check out the requirements and the procedure, here.
IMEI Registration in Indonesia is necessary to ensure telecommunication devices from abroad can function properly in Indonesia.
With offices in Jakarta, Bali, Semarang, SUrabaya, and Batam, InCorp is ready to assist you as a local partner and distributor in Indonesia.
InCorp can help you to select the trusted local partners to import and distribute your products in Indonesia.
Improve your business by knowing the market conditions in Indonesia through market research services in Indonesia.
InCorp can help you gain information about your competitor's product through mystery shopping.
In today’s ever-evolving global landscape, international investment opportunities beckon with enticing promises. The Indonesian Golden Visa program is a game-changer for those seeking a seamless path to prosperity and dynamic business opportunities.
This initiative of the new visa program benefits foreign investors and is a key topic in global immigration and investment discussions. This article delves into the depths of the Golden Visa. It also helps you to shed light on its key aspects, benefits, and the essential information you need before doing business in Indonesia.
Indonesia has officially introduced a Golden Visa program aimed at high-quality foreign nationals who will contribute to the country’s economic development, including corporate and individual investors. The basis for implementing this immigration program is rooted in the Ministry of Law and Human Rights Regulation (Permenkumham) Number 22 of 2023 regarding Visas and Residence Permits.
The new initiative is regulated under the Ministry of Finance Regulation Number 82 of 2023, then enacted on August 30, 2023. According to the definition provided by the OECD, a Golden Visa is a residency or citizenship scheme granted through investment.
This new visa allows foreign citizens to live in a country if they make significant investments in that country. However, the granting of this visa is not solely based on investment. Payment of an agreed-upon sum of money can also be one of the requirements for obtaining this type of visa.
Read more: Indonesia Shared Good News About Multiple Entry Business Visa
A Golden Visa, often called a “Golden Residency” or “Investor Visa,” is a sought-after immigration program offered by various countries worldwide. This innovative concept has gained widespread popularity for its ability to provide individuals and families with an exclusive opportunity to obtain residency in a foreign nation, usually through investments or specific financial contributions.
The term “Golden Visa” itself evokes an aura of prestige and exclusivity, and rightfully so. It signifies a pathway that opens doors to new horizons, offering many advantages beyond mere residency. These visas are typically designed to attract high-net-worth individuals, investors, entrepreneurs, and professionals who can significantly contribute to the host country’s economy and development.
Indonesia is one of many countries to implement the Golden Visa program. Similar policies have already been implemented in various developed countries, including:
Countries that have this visa policy have experienced positive impacts. For example, Denmark excels in innovation, and the United Arab Emirates has become a preferred destination for foreign investors.
Moreover, in 2018, Transparency International conducted a study. It is estimated that between 2008 and 2018, the European Union received approximately EUR 25 billion (IDR 407 trillion) in Foreign Direct Investment (FDI) due to implementing the visa schemes in its member countries.
Indonesia has introduced a transformative Golden Visa program to bolster its national economy and attract globally renowned individuals to contribute to its growth. This initiative represents a remarkable departure from the country’s previous immigration regulations, as it offers residency permits that can extend from 5 to 10 years, with the latter being an entirely new and enticing option for visa holders.
One of the primary advantages of the Golden Visa in Indonesia is its extended stay duration. Holders of this prestigious visa program can enjoy an extended period of residence there. This particular immigration program offers them a unique opportunity to immerse themselves in Indonesia’s rich culture and vibrant business environment.
Navigating immigration procedures can often be cumbersome, but Golden Visa holders are granted streamlined entry and exit processes. This means they can enjoy smoother transitions in and out of the country, saving valuable time and effort.
Traditionally, foreign nationals in Indonesia have had to apply for an ITAS (Temporary Stay Permit) at the immigration office, which can be a bureaucratic challenge. The Golden Visa program eliminates this requirement, enhancing efficiency and convenience for visa holders to obtain residency by investment.
It’s important to note that the Golden Visa program offers various categories to cater to different individuals’ expertise and contributions. Besides the investor-based category, options like the “World Figures” sub-category exist. The unique subcategory is designed for internationally renowned individuals who have the potential to contribute to Indonesia’s growth and development significantly.
To ensure the program attracts the right individuals, a government institution at the national level is responsible for proposing and recommending eligible foreign nationals for the Golden Visa. This stringent selection process ensures that those granted this prestigious visa have a proven track record of excellence and are poised to make meaningful contributions to Indonesia’s future.
In a historic moment, Samuel Altman, the Chief Executive Officer (CEO) of OpenAI, became the first foreign national to receive the Golden Visa in Indonesia following its enactment at the end of August. Altman was granted the visa under the “World Figures” sub-category, entitling him to a 10-year residency period.
His recognition as a Golden Visa holder underscores the program’s commitment to attracting global leaders and visionaries to Indonesia. Therefore, this beneficial visa program helps to position the country as a hub for innovation, investment, and progress.
Read more: Indonesia Shared Good News about Multiple Entry Business Visa
The requirements for this visa vary based on the benefits it offers, as follows:
Individual foreign investors planning to establish a company in Indonesia must invest approximately USD 2.5 million (around IDR 38 billion) to qualify for a five-year Golden Visa.
A minimum investment of USD 5 million (approximately IDR 76 billion) is necessary for individual foreign investors establishing a company in Indonesia to obtain a ten-year Golden Visa.
A five-year Golden Visa will be granted to directors and commissioners of a large-sized company in Indonesia that commits an investment of USD 25 million or approximately IDR 380 billion.
A ten-year Golden Visa will be granted to directors and commissioners of a large-sized company in Indonesia that commits an investment of USD 50 million or approximately IDR 760 billion.
Different criteria apply to individual foreign investors who do not intend to establish a company in Indonesia:
Applicants must allocate funds worth USD 350,000 (around IDR 5.3 billion) for a five-year Golden Visa. These funds can be utilized to purchase Indonesian government bonds and public company shares or placed in savings/deposits.
For a ten-year Golden Visa, applicants must allocate a sum of USD 700,000 (approximately IDR 10.6 billion).
The introduction of the Golden Visa further underscores the Indonesian government’s commitment to attracting investment for economic development. Thanks to its abundant natural resources, substantial digital market share, and many immense tourism destinations, Indonesia is a lucrative market, offering significant business potential.
Investors seeking this visa can contact our experts to understand the application process better. InCorp Indonesia also offers various visa-related services, including Investor KITAS and Business Visas, to streamline your business operations within Indonesia. Feel free to reach out to our consultants by completing the form below.
An expert for more than 10 years, Pandu Biasramadhan, has an extensive background in providing top-quality and comprehensive business solutions for enterprises in Indonesia and managing regional partnership channels across Southeast Asia.