<p>Indonesia is introducing a golden visa scheme to attract foreign individual and corporate investors in an attempt to boost its national economy, a statement from the ministry of law and human rights distributed on Sunday said.</p>.<p>"The golden visa is granting a residence permit for an extended period of five to 10 years," director general of immigration, Silmy Karim said in the statement.</p>.<p>The five-year visa requires individual investors to set up a company worth $2.5 million, while for the 10 years visa, a $5 million investment is required.</p>.Discovering Indonesia: Trekking, Temples, and Paradisiac Beaches .<p>Other countries around the world including the US, Ireland, New Zealand and Spain have introduced similar golden visas for investors, seeking to attract capital and entrepreneurial residents.</p>.<p>Meanwhile, corporate investors are required to invest $25 million to get five-year visas for directors and commissioners. They need to invest double, or $50 million, to gain a 10 year visa.</p>.<p>Different provisions apply to individual foreign investors who do not want to establish a company in the Southeast Asian country. The requirements range from $350,000 to $700,000 in funds that can be used to purchase the Indonesian government bonds.</p>.<p>"Once they arrive in Indonesia, golden visa holders no longer need to apply for permit," Silmy Karim said.</p>
<p>Indonesia is introducing a golden visa scheme to attract foreign individual and corporate investors in an attempt to boost its national economy, a statement from the ministry of law and human rights distributed on Sunday said.</p>.<p>"The golden visa is granting a residence permit for an extended period of five to 10 years," director general of immigration, Silmy Karim said in the statement.</p>.<p>The five-year visa requires individual investors to set up a company worth $2.5 million, while for the 10 years visa, a $5 million investment is required.</p>.Discovering Indonesia: Trekking, Temples, and Paradisiac Beaches .<p>Other countries around the world including the US, Ireland, New Zealand and Spain have introduced similar golden visas for investors, seeking to attract capital and entrepreneurial residents.</p>.<p>Meanwhile, corporate investors are required to invest $25 million to get five-year visas for directors and commissioners. They need to invest double, or $50 million, to gain a 10 year visa.</p>.<p>Different provisions apply to individual foreign investors who do not want to establish a company in the Southeast Asian country. The requirements range from $350,000 to $700,000 in funds that can be used to purchase the Indonesian government bonds.</p>.<p>"Once they arrive in Indonesia, golden visa holders no longer need to apply for permit," Silmy Karim said.</p>