Several countries offer similar investment visa schemes, but others, including Canada, Britain and Singapore, have scrapped such schemes as their governments concluded they do not create jobs and could be a means to park speculative money.
Jokowi, as the president is commonly known, said the visa was intended to lure “good quality travellers”.
“We’re launching the golden visa to make it easier for foreign nationals to invest in and contribute to Indonesia,” he said.
Silmy Karim, chief of the immigration agency, said Indonesia had granted golden visas to almost 300 applicants since it began testing the permits out last year, attracting US$123 million.
Silmy also said the authorities are discussing ways to grant a special status for foreign nationals of Indonesian descent, modelled after the Overseas Citizenship of India (OCI), which allows foreigners of Indian ancestry to visit, work and live in India indefinitely. That could be issued by October, he added.
Silmy said the plan was intended to respond to calls for Indonesia to allow its citizens to hold another passport.
