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Bali Zero handles visas, company setup, tax and property compliance in Indonesia. Ask us directly on WhatsApp.
Chat with Bali Zero on WhatsAppIndonesia's Golden Visa program, one of seven investor residency schemes drawing global attention, has undergone a significant regulatory overhaul thr
Indonesia's Golden Visa program, one of seven investor residency schemes drawing global attention, has undergone a significant regulatory overhaul through a series of ministerial regulations enacted between 2023 and 2025. The changes affect investment minimums, administrative procedures, and the legal architecture governing who qualifies and how.
The cornerstone of the updated framework is Permenkumham No. 11 Tahun 2024, issued by the Ministry of Law and Human Rights to amend the implementation of the Golden Visa policy. Under this regulation, foreign individuals who establish a company in Indonesia under the E28B classification must invest a minimum of USD 2.5 million to obtain a five-year limited stay permit, or USD 5 million for a ten-year permit. For pure financial investors — those purchasing Indonesian government bonds, listed public shares, or registered mutual funds without forming a company, classified as E28C — the thresholds are lower: USD 350,000 for five years and USD 700,000 for ten years.
The foundational legal scaffolding for these visa categories was laid by Permenkumham No. 22 Tahun 2023, which established the visa index system separating Golden Visa classifications from standard investor permits. This regulation created the distinct E28B and E28C categories now referenced in all subsequent Golden Visa processing.
A notable procedural change arrived with Permenimipas No. 5 Tahun 2025, issued by Indonesia's newly formed Ministry of Immigration and Penal Correction. This regulation governs immigration guarantors and introduces a critical exemption for Golden Visa holders: qualifying investors may bypass the traditional requirement to secure an Indonesian national as a guarantor. Instead, their qualifying investment itself functions as an Immigration Guarantee — a self-sponsorship mechanism known as Jaminan Keimigrasian — streamlining the application process considerably.
Further administrative relief came through UU No. 63 Tahun 2024, an amendment to the foundational Immigration Law No. 6 Tahun 2011. This national law automatically integrates the Multiple Exit Re-Entry Permit (MERP) directly into the Golden Visa holder's limited stay permit (KITAS) or permanent stay permit (KITAP) upon issuance. Previously, investors were required to obtain MERP separately — a redundant step that added both cost and bureaucratic friction for internationally mobile residents. The automatic inclusion removes that step entirely.
Indonesia's Golden Visa reforms represent a deliberate policy signal: the government wants serious capital, not speculative residency shopping. The investment thresholds in Permenkumham No. 11/2024 ar
e meaningful — USD 2.5 million to establish a company is a genuine commitment, and the E28C portfolio route at USD 350,000 for five years is positioned as the accessible entry point for financially so
phisticated individuals who want residency without the operational complexity of running an Indonesian entity.
For Bali-based clients, the most practically significant changes are the procedural ones. The elimination of the traditional guarantor requirement under Permenimipas No. 5/2025 removes one of the most friction-heavy parts of investor visa applications — finding a willing, legally responsible Indonesian national was often a genuine obstacle. Self-sponsorship via the investment itself is a cleaner, more predictable mechanism.
The MERP integration under UU No. 63/2024 matters more than it might appear. Clients who travel frequently — and most high-net-worth Golden Visa holders do — previously faced recurring MERP renewal costs and calendar management. Automatic inclusion eliminates that overhead entirely. Taken together, these changes make the Golden Visa administratively leaner even as the financial bar stays high.
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