Director general of immigration at the Law and Human Rights Ministry (Kemenkumham), Silmy Karim, said that the golden visa requirements have been eased for investors, especially foreign companies, wishing to invest in the new capital city Nusantara (IKN). Requirements for foreign companies wishing to invest in IKN have been lowered from a minimum investment of 25 million US dollars to US$5 million for a stay of 5 years while for a stay of 10 years, it has been lowered from US$50 million to US$10 million. In addition, foreign companies seeking to open branches or subsidiaries in the new national capital will be exempt from turnover requirements (sales value) at their parent companies — a requirement for foreign companies opening branches or subsidiaries outside IKN. The applications for visas with the E28F index can be submitted online via the website evisa.imigrasi.go.id.. A passport with a minimum validity of six months and a photograph will need to be attached with the application. The other documents that will need to be submitted include a statement of commitment to build a company at IKN with an investment value of at least US$5 million (for a stay of five years) or at least US$10 million (for a stay of 10 years). In January 2024, 62 golden visas were issued, Karim said. The director general expressed the hope that the policy could increase the quantum of investment entering IKN.
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February 07, 2024
