Samuel Altman, CEO of OpenAI, was the first foreigner to receive an Indonesian Golden Visa after it was announced at the end of August. Altman was granted a golden visa with the world figure sub-category and a 10-year stay period, which was endorsed by the Director General of Immigration, Silmy Karim.
In an effort to attract international investors, Indonesia, the largest economy in Southeast Asia, has recently launched a Golden Visa program. The goal of golden visas, which are given to foreigners as a basis for permission to stay for five to 10 years, is to strengthen the nation’s economy.
The nation’s immigration department granted Altman a 10-year visa as he “has an international reputation and may bring benefits to Indonesia,” said Immigration Director General Silmy Karim in a statement. Among other benefits, the co-founder of ChatGPT’s developer would get priority security screening at airports, longer stay times, and simpler entry and exit procedures.
In order to create a business in Indonesia and qualify for a 5-year residency visa as an individual investor seeking an Indonesia Golden Visa, one must invest US$ 2,500,000 (or Rp. 38 billion). A 10-year stay permit, however, costs US$ 5,000,000. That’s nearly Rp 76 billion.
Alternatively, for a 5-year Golden Visa stay permit, applicants must deposit US$ 350,000 (about Rp. 5.3 billion), and for a 10-year Golden Visa stay visa, US$ 700,000 (about Rp. 10.6 billion). Deposits can be made in Indonesian government bonds, shares of publicly traded companies, or savings deposits in Indonesia.
Other than for investors, there are various sorts of Golden Visas. One of them is for well-known figures with an international reputation. A central government organization proposes and suggests names of Foreign Nationals qualifying for the Golden Visa remarkable figure category.