5 August 2024
Morning Shot: How effective will Indonesia's 'Golden Visa' be in attracting foreign investors?
Jakarta has officially launched a new long-term visa, which offers residency to wealthy investors, retirees and professionals with desired talents and skills. The five-year "Golden Visa" requires individual investors to set up a company worth US$2.5 million, while a 10-year visa requires a US$5 million investment.
Following a trial last year, about 300 golden visas have been given out so far, with most of the applicants from China, the United States, Russia, Taiwan and Britain.
The programme is aimed at building investor confidence against possible headwinds, especially with some holding back while Southeast Asia’s largest economy enters a leadership transition period in the next few months. But experts have warned that such a programme could lead to risks like money laundering and housing inflation even as it brings in foreign investment and contributions that will inspire confidence in the country’s business and financial landscape.
On this episode of Morning shot, Doris Liew, Economist and Assistant Research Manager at The Institute for Democracy and Economic Affairs shares her thoughts on whether this golden visa gamble will hit or miss the mark.
Presented by: Emaad Akhtar
Produced & Edited by: Yeo Kai Ting (ykaiting@sph.com.sg)
Assistant Producer: Simone Chuah
Photo credits: Caregivers Alliance

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