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Indonesia's 'Golden Visa' Scheme Raises Concerns Over Potential Risks

2024-07-30 05:10:39.762000

Indonesia has launched a 'Golden Visa' scheme to attract wealthy investors, offering residency to individuals willing to invest at least US$350,000 for a five-year stay or US$700,000 for a 10-year visa. The government aims to issue 1,000 golden visas this year, mainly to applicants from Singapore, Japan, China, South Korea, the Netherlands, Britain, France, Germany, and the United Arab Emirates. The scheme is seen as a tool to expedite the development of Nusantara, Indonesia's new capital city in Borneo. However, concerns have been raised about Indonesia's ability to combat cross-border money laundering and criminal acts facilitated by the golden visas. The scheme has also raised concerns about land ownership and the potential for protests from residents [0873b898].

The 'Golden Visa' scheme in Indonesia has attracted attention for its potential risks. Analysts warn of the possibility of money laundering and housing inflation as a result of the scheme. The government's goal of issuing 1,000 golden visas this year is mainly targeting applicants from several countries, including Singapore, Japan, China, South Korea, the Netherlands, Britain, France, Germany, and the United Arab Emirates. The scheme is expected to support the development of Nusantara, Indonesia's new capital city in Borneo. However, there are concerns about Indonesia's ability to combat cross-border money laundering and criminal activities associated with the golden visas. The scheme has also raised concerns about land ownership and the potential for protests from residents [0873b898].

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