Indonesia Golden Visa

The Indonesia Golden Visa is a five or ten year, multiple entry residence permit granted in exchange for placing at least US$350,000 (five years) or US$700,000 (ten years) in Indonesian government bonds, shares in listed Indonesian companies or Indonesian mutual funds. It is administered by the Directorate General of Immigration (Direktorat Jenderal Imigrasi), and the route described here is the visa coded E28C, the Capital Market Investor Visa. You need neither an Indonesian company to obtain it nor relocation to keep it.

The most important thing to understand is what the money is. The US$350,000 is not a fee and not a government charge. It is your own capital, placed in Indonesian securities and held in your name for the life of the permit, which makes the headline figure far less painful than it looks beside programmes where the money is simply spent. It also carries market and currency risk, so it is never a deposit, a guarantee or a refundable payment. Rupiah denominated paper can fall in value measured in your home currency.

What does the Indonesia Golden Visa actually get you?

It gets you residence, and only residence. The E28C is a limited stay permit with a five or ten year term and multiple entry rights, and it allows you to invest and carry on business and investment related activity. The Directorate General of Immigration confirms on the E28C listing that you may bring your family to live in Indonesia with you.

It does not get you an Indonesian passport, nor a defined path to one. Indonesia does not generally permit adults to hold dual nationality, so naturalisation would mean renouncing your existing citizenship as well as satisfying the general nationality law after long lawful residence. If a second passport is the objective rather than a base in Southeast Asia, this is the wrong instrument, and the honest answer is our citizenship by investment hub instead.

How much does the Indonesia Golden Visa cost?

The qualifying placement is US$350,000 for the five year permit and US$700,000 for the ten year permit, in the instruments named above. For the ten year permit only, ownership of an Indonesian apartment worth at least US$1,000,000 qualifies as an alternative. These figures are published by the immigration service on the current E28C listing, and the two securities thresholds are what our cost calculator models.

On top of the placement sit Indonesian government charges, published in rupiah and payable per applicant: IDR 13,000,000 for a stay of up to five years and IDR 19,500,000 for up to ten years, covering the stay permit, the visa, verification and the re-entry permit. Because they are set in rupiah, they are shown separately and not added to the calculator's dollar total. Brokerage, custody and fund charges, and professional fees, sit outside the government schedule entirely; if you choose the apartment route, Indonesian transfer costs and taxes come on top of the qualifying value.

The other Golden Visa routes

Indonesia publishes several other Golden Visa tiers, all on the immigration service's official visa list. An individual who establishes an Indonesian company (E28B) commits placed capital or investment of at least US$2,500,000 for five years or US$5,000,000 for ten. A foreign national who serves as a director or commissioner of a new Indonesian branch or subsidiary of a foreign company (E28D) qualifies when that company commits at least US$25,000,000 for five years or US$50,000,000 for ten; where the branch or subsidiary is established in the new capital, Nusantara (E28F), the commitment is US$5,000,000 or US$10,000,000. In each company route the investment has to be made within 90 days of entry.

The requirements that catch people out

The placement has to stay placed. The investment is expected to be held for the term of the permit, so the five year visa implies a five year commitment and the ten year visa a ten year one. Selling down the position goes to the basis on which the permit was granted.

Source of funds is the real workload. Placing several hundred thousand dollars through an Indonesian securities account means satisfying the bank or broker as well as the immigration service, and the chain from the origin of the wealth to the account has to be complete and coherent. This is almost always where timelines slip.

The administrative requirements are specific. The E28C listing asks for a passport valid for at least six months, bank statements for the last three months showing at least US$2,000 for living costs in addition to the placement, a recent colour photograph, a CV and a travel itinerary. No sponsor is needed. Each accompanying family member has their own document set, so the paperwork grows with the household.

How long does it take?

Applications are filed on the official eVisa portal. The immigration service checks the file, verifies payment of the charges, profiles and approves the applicant, and its published service standard is issuance within five working days of receiving the visa payment. The visa must then be used within 90 days, and the limited stay permit (ITAS) and re-entry permit are issued automatically on entry. The overall timeline is set by how quickly you can open the Indonesian securities arrangement and evidence the source of funds, a matter of weeks for a well prepared file and considerably longer otherwise.

What tax will I pay in Indonesia?

Holding the visa does not by itself make you an Indonesian tax resident. Indonesia applies a presence test, broadly more than 183 days in any twelve month period, alongside the usual centre of life considerations. Cross that line and Indonesia taxes worldwide income at progressive rates. Stay below it and, in principle, only Indonesian source income is within charge, typically by withholding. Capital gains are generally taxed as ordinary income, with separate regimes for listed shares and property. This is general information, not tax advice, and anyone whose plan turns on the day count should take Indonesian advice before the first long stay.

Renewal, permanent stay and the limits of the route

The permit is extendable and may be converted to other limited stay permits. Indonesian law also provides for a permanent stay permit, ITAP (Izin Tinggal Tetap), after a period of continuous limited stay residence, and that is the realistic ceiling of this route. Permanent stay is not citizenship, and the dual nationality position does not change with time.

One clarification, because these two products are constantly conflated. Indonesia also operates a Second Home Visa (E33), built on a deposit of at least US$130,000 held in the applicant's own name at a state owned Indonesian bank, or an Indonesian apartment worth at least US$1,000,000. Its first stay permit runs for up to five years and can be extended, it carries its own government charge, and it suits a retiree or remote worker rather than an investor. It is a different visa, not modelled by this page's calculator.

Who this programme suits, and who it does not

It suits the investor who wants a long, low friction, family inclusive base in Southeast Asia's largest economy without establishing a company or relocating, and who is comfortable holding a meaningful position in Indonesian securities for five or ten years. For a family already spending substantial time in Bali or Jakarta on short stay visas, the gain in legal certainty is considerable.

It does not suit anyone who needs their capital liquid, anyone wanting capital protection rather than a securities position, anyone seeking visa free travel, since a residence permit does not alter your passport, or anyone whose objective is a second citizenship. The tier structure has changed more than once since 2023, so planning should assume it may change again.

For the live requirement list and an honest view on whether the five or the ten year permit fits your circumstances, arrange a complimentary consultation with Mirabello Consultancy. You can also weigh this route against the other programmes on our golden visa and residency by investment hub, including the United Arab Emirates Golden Visa and Thailand's long stay residency programme.