Indonesia unveils innovative strategies to draw wealthy and skilled expatriates

Indonesia, with its natural beauty, diverse culture, and growing economy, is positioning itself as an ideal destination for global professionals. The government has recognised the need for strategic reforms, innovation, and the infusion of foreign talent and investment to propel the country towards its ambitious goal of becoming one of the world's top five largest economies in the next two decades.

From Jakarta's bustling metropolis to Bali's charming beaches, discover Indonesia’s latest initiatives to attract top expats around the world.

Golden visa for foreign investors

Indonesia has launched a golden visa program to attract affluent foreigners, particularly foreign investors in sectors like digital innovation and healthcare. This program has specific goals: to boost the economy, create more jobs, and entice people to live and establish the country as an enticing destination for thriving business ventures.

The program offers a lot of benefits, including:

• Simplified immigration procedures

• Accelerated access to citizenship

• Access to property ownership

With specific investment requirements yet to be announced, an investment of approximately USD 2 to 2.6 million could potentially grant a golden visa for 5 to 10 years.

Digital nomad visa for remote workers

Indonesia has been considering the introduction of digital nomad visa, spearheaded by Bali, rumored to have a five-year validity with an option for renewal for another five years. However, the official launch of this visa is still pending.

In the meantime, Indonesia currently permits digital nomads to work remotely within the country using the B211a visit visa.

The concept of digital nomadism is appealing to the Indonesian government as these individuals work as self-employed or for foreign companies, have the financial means to support themselves, and possess their own health insurance—standard requirements for applying for a digital nomad visa. This aligns with the profile of tourists who contribute to the economy rather than relying on the state.

Incentives for digital nomads include:

• Tax exemption for remote workers with foreign employers

• 5-year visa duration distinguishes Bali's offering from other countries

Moreover, recognising the urgency of environmental concerns, the government emphasises that the strategy incorporates sustainable practices and promotes the development of ecotourism.

Xpats Gateway for fast-tracked expat recruitment

Indonesia launched “Xpats Gateway” system to enhance talent acquisition and drive business growth in the country. This initiative includes accelerated immigration and recruitment measures, eliminating the three-month waiting period for companies to hire highly qualified expatriates.

Here are some key points regarding the implementation of the new system:

• Introduction of “single window approach”: The government will consolidate the work visa application process, reducing the involvement of approximately 11 departments.

• Significant reduction in delays: The current system with multiple departments caused delays of up to 80 days in hiring qualified foreigners.

• Aim for faster visa application and approval: The executive branch targets a timeline of 5 days for visa application and approval, compared to the current average of 30 days.

• Shorter waiting time for job offers: Companies will only have to wait 14 days to publish job offers for unfilled positions, compared to an average of 30 days.

• Overall recruitment process reduction: The entire recruitment process for qualified expatriates is expected to be reduced to around 20 days, compared to the current three-month timeframe.

The new system will be introduced in stages to ensure a smooth transition from the existing immigration services. These measures align with Indonesia's vision to become a prominent hub for talent, benefiting both employers and qualified foreigners seeking employment opportunities in Indonesia.

Second home visa for wealthy expats

In late 2022, Indonesia introduced second home visa to present an attractive opportunity for expatriates seeking a long-term stay in Indonesia. Unlike other visa programs, no specific investment obligations are required, providing flexibility to the expatriates to explore various opportunities according to their preferences and aspirations.

Key details of this visa program include:

• Duration: The Second Home Visa offers a long-term stay in Indonesia for 5 to 10 years

• Target Audience: This visa program is designed for affluent expatriates who wish to embrace Indonesia's culture, natural wonders, and dynamic lifestyle.

• Financial Eligibility: Applicants must have at least USD 130,000 in their bank account to qualify for the Second Home Visa.

Aspiring high-income expatriates can explore Indonesia's diverse landscapes and enjoy the benefits of a prolonged stay while contributing to the local economy.

Whether you are an investor looking for a favorable business environment, a professional seeking the freedom to work remotely, or a retiree desiring a fulfilling lifestyle, these new strategies cater to the specific needs and aspirations of each expatriate segment.