REPUBLIKA.CO.ID, JAKARTA -- Indonesian National Team Coach Shin Tae-yong received the first Golden Visa facility from the Indonesian government. Shin received the Golden Visa facility directly from President Joko Widodo (Jokowi) at the Golden Visa Grand Launching event in Jakarta on Thursday (25/7/2024).

“We also want global talent to come to Indonesia and work and benefit our country,” Jokowi said after attending the Golden Visa Grand Launching in Jakarta on Thursday.

President Jokowi also gave reasons for considering Coach STY, a familiar greeting from Shin Tae-yong, to get the first Golden Visa facility. According to the President, foreign nationals (WNA) who receive the Golden Visa facility should be selected taking into account how much it benefits the State.

“We expect to be able to provide as many national benefits as possible to choose from. I have already stressed that people who are not useful to our country should enter, no, should be selected as strictly as possible,” the President said.

Jokowi said the Golden Visa facility was launched to make it easier to provide residence permits to WNAs who are global investors and talents who want to work in Indonesia. The Golden Visa is a new form of second home visa that targets international investors and business people, global talent, and foreign travelers who meet the criteria.

Foreign investors holding Golden Visa can have a residence permit in Indonesia for five to 10 years, subject to certain investment amount requirements. The government gives WNA individuals who want to obtain a Golden Visa the opportunity to obtain a residence permit for five years by depositing an investment fund of 350 thousand US dollars.

Furthermore, WNA who is an investor or wants to establish the company must deposit an investment fund of 2.5 million US dollars in order to obtain a residence permit for 5 years.