Indonesia’s golden visa program has generated Rp 52.1 trillion (approximately US$2.95 billion) in investment through 1,274 permits issued as of May 18, 2026, according to a press release from the Directorate General of Immigration. Director-General of Immigration Hendarsam Marantoko announced the figures at a press conference in Jakarta on May 21.
Investment by Golden Visa Category
Corporate investors overwhelmingly dominate the program’s investment profile. Of the Rp 52.1 trillion total, the corporate investor category accounts for Rp 50.88 trillion, or 97.7%.
Individual investors who did not establish a company contributed Rp 179.4 billion (approximately US$10.2 million), while those who did contributed Rp 130.3 billion (approximately US$7.4 million).
“At this point, we have reached the figure of Rp 52.1 trillion,” Hendarsam told journalists. “And that is a pretty good figure to increase our foreign exchange reserves.”
Americans hold the most golden visas, with 160 recipients, followed by Chinese nationals at 147 and Taiwanese at 110. Australia, Russia, the Netherlands, the UK, Japan, and South Korea round out the top source countries, though the government did not provide exact figures beyond the top three.
Beyond investment, the program has also generated Rp 19 billion (approximately US$1.08 million) in non-tax state revenue (PNBP).
Pace Slows After First-Year Surge
Former President Joko Widodo launched the program in July 2024, aiming to attract investors, global talent, diaspora members, and descendants of former Indonesian citizens.
By the end of 2024, immigration authorities had issued 471 golden visas totaling Rp 9 trillion (then approximately US$558 million). Nine months later, that figure had grown to 1,012 permits and Rp 48 trillion (approximately US$2.9 billion).
Between September 2025 and May 2026, however, the government added just 262 permits and Rp 4.1 trillion (approximately US$232 million) in new investment. Issuance averaged roughly 33 permits per month over those eight months, down from approximately 72 per month during the program’s first 14 months.
Average investment per permit has also fallen. Across the program’s lifetime, each permit represents approximately US$2.3 million in investment. For the 262 permits added since September 2025, that average drops to roughly US$887,000, suggesting the latest cohort includes fewer large corporate applicants.
Hendarsam noted that the program has exceeded its original target of 1,000 recipients. “From an initial target of 1,000 recipients, the current figure has exceeded 1,200, meaning it has surpassed the target,” he told reporters.
Indonesia’s golden visa grants long-term residence permits of five to ten years to investors, specialized professionals, global figures, and former Indonesian citizens. Individual investors qualify by depositing US$350,000 in government bonds, bank deposits, or public company shares for a five-year permit, or US$700,000 for ten years.
Corporate investors face higher thresholds: US$25 million for five-year visas covering directors and commissioners, or US$50 million for ten-year permits.
Holders receive priority lanes at airports, simplified immigration services, and legal certainty for investing and working in Indonesia.
Additional categories cover “silver hair” retirees, “second home” applicants, global talent, and investors in Ibu Kota Nusantara (IKN), Indonesia’s new capital. In January 2026, the government reduced IKN golden visa thresholds to US$5 million for five years and US$10 million for ten years.
Hendarsam added that the Directorate General of Immigration continues to monitor foreign nationals for visa misuse. He cited recent enforcement operations against online gambling networks in Batam and West Jakarta as examples of the government’s parallel crackdown on permit abuse.
