JAKARTA, Feb. 2: Indonesia has relaxed its Golden Visa requirements for investors in the new capital city of Nusantara, head of Directorate General of Immigration Silmy Karim said on Friday.
Foreign companies can now apply for a five-year resident permit if they invest at least US$5 million, far less than the previous minimum requirements of US$25 million.
For investors who will stay for 10 years, capital investment requirements are relaxed to US$10 million from US$50 million, Karim said.
As of January 2024, 62 golden visas have been issued.
The government hopes that inflow of foreign capital can boost the economy of the new capital and its surrounding areas.