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Indonesia Says Golden Visa Has Brought in Over Half a Billion USD in H2 2024

Indonesia says Golden Visa averages US$1.2M in investments per application, brings in over half a billion USD in first 4.5 months

Indonesia’s government says it has approved 471 applications for its Golden Visa program between July 25th and December 10th, 2024.

In these four and a half months, the program has brought in Rp9 trillion (approximately US$558 million) in investments, according to the Directorate General of Immigration.

The program offers foreign investors long-term residence permits spanning five to ten years. Investors must commit at least $350,000 if investing in government bonds, bank deposits, or public company shares, or must meet a $2.5 million minimum threshold if they want to establish a company.

Based on the government’s announcement, the average investment value per application is US$1.2 million. Indonesia did not reveal the breakdown of applications per investment asset class.

The Golden Visa has registered a strong average monthly approval rate of over 100 applications, fairly above what many industry experts projected when the government initially launched the program.

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Despite this early momentum, the government’s annual target of 1,000 visas appears too ambitious, for now, at least.

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