Southeast Asian couries, including Indonesia, are trying to attract rich applicas with high net worth by offering various visas to advance economic projects and invest in these couries. Qualified applicas can obtain a 5-20 year residence permit by investing in Indonesia, Malaysia, Singapore and Thailand. This is just one of the amazing benefits of investing in these couries. In this article, we will review the investme visas of these Asian couries.
Indonesia golden visa to attract foreign investors
Indonesia implemes the golden visa scheme to attract foreign investors and foreign companies. This Indonesian immigration visa program provides applicas with residence permits from 5 to 10 years based on the value and amou of investme.
Indonesia iroduced the golden visa program to attract foreign investors with high capital and high net worth. According to this new visa plan, foreign investors can receive a 5-10-year residence permit in this coury according to the amou and value of their investme.
With how much capital can you get a 10-year Indonesian residency?
In order to receive a 5-year visa, private investors must register and establish a company in this coury with a capital of 5 million dollars. Investors must establish an Indonesian company worth 2.5 million dollars to receive a 10-year visa. Also, investors who do not wish to establish a local eity or business company can invest at least US$350,000 in shares of a local public company, deposit or savings accous, or Indonesian governme bonds to qualify for a 5-year visa. To get a 10-year Indonesian visa, investors must spend US$700,000 to buy stocks or deposit or savings accous.
In addition, managers and business represeatives can receive a 5-year residence visa in this coury by investing at least 25 million dollars. To obtain a 10-year residence permit, managers and business represeatives must invest at least 50 million dollars in this coury.
Indonesia’s fierce competition with neighboring couries to attract rich people
Indonesia faces stiff competition from its Southeast Asian neighbors to attract wealthy individuals. In fact, the Indonesian governme encourages rich applicas from all over the world to invest in this coury by offering attractive investme opportunities and many privileges to obtain a 5-10-year residence permit. But many neighboring couries and regional competitors have been leading in attracting foreign investors before Indonesia’s policies and arrangemes.
Indonesia’s first competitor: Thailand
Thailand in 2022 various programs and inceives inceives It implemeed investmes with the aim of attracting retirees, investors and foreign professionals. Eligible applicas can obtain a 10-year long-term residence visa for themselves, their spouse and children by investing in this coury. In addition, automatic work permits will be issued to qualified applicas. This is a new type of visa that did not exist in Thailand before. Eligible applicas can also benefit from paying the same income tax rate as Thai citizens, as well as tax exemptions for overseas earnings. Applicas who receive this new Thailand visa will benefit from fewer restrictions on buying houses and property, foreign ownership and reing land and property.
Tax and investme inceives in Thailand are available to wealthy applicas from around the world with at least $80,000 in annual income and at least $1 million in assets. Wealthy retirees with a minimum fixed pension of US$40,000 per year and with 50 years or more are eligible for tax and investme inceives in Thailand. In addition, highly skilled professionals with a 2-year income of at least US$80,000 or a one-year income of at least US$40,000 in industries such as infrastructure or digital systems are eligible for investme inceives and this new Thailand visa. and are eligible. Since the implemeation of this visa program in September 2022 to June 2023, about 4,200 applicas have applied. In line with the implemeation of this visa program, the Thai governme aims to increase one million foreign applicas to the coury’s population in the next 5 years.
Indonesia’s second competitor: Malaysia
Malaysia Visa Privilege Program (PVIP) Premium Visa Program It was iroduced in 2022 to attract wealthy foreign applicas to invest and obtain a 20-year residence permit in this coury. By receiving this visa, applicas can buy houses and resideial or commercial properties in Malaysia. Eligible applicas for the Malaysia PVIP Premium Visa Program must meet the following requiremes and conditions:
- Applica must open a fixed deposit accou of RM1 million (US$227,180) in a Malaysian licensed bank. The applica is not allowed to make any withdrawals in the first year of depositing, but upon eering the second year of depositing, the applica can withdraw up to 50% for buying a house and property, medical expenses or education.
- The applica must have a mohly income of at least 40,000 ringgit (9,086 USD) or an annual income of 480,000 ringgit (109,000 USD) outside Malaysia.
- The applica must pay participation fees of approximately 200,000 ringgit (45,434 USD) for the main applica and 100,000 ringgit (22,713 USD) for each depende family member.
- All applications for Malaysia’s premium visa must be made through an authorized agency designated by the Departme Migration Malaysia to follow.
However, Malaysia’s premium visa program is currely under review by the governme and only 28 applications have been submitted. The reason for this is that the requiremes and conditions of this visa program are similar to another visa program called “Malaysia My Second Home program”, which has a much lower application fee of about 5,000 ringgit (1,074 US dollars) for the main applica and 2,500 Ringgit (US$537) per depende family member.
Malaysia is also the first digital nomadic (remote work) visa program. digital nomad visa implemeed the region in 2022. The program, called De Raau, is for digital marketers, IT professionals and coe creators, offering a 12-moh residency permit. The governme hopes the program can make Malaysia a hub for digital nomads in the region, while boosting the digital industry across the coury.
Eligible applicas for a digital nomad (remote work) visa who have jobs in the areas of digital freelancing or independe coracting must submit an active project coract with a duration of work of more than 3 mohs. This proof of residency can be provided in the form of multiple coracts with foreign or Malaysian companies. These applicas must provide an active employme coract where the duration of the coract in Malaysia is more than 3 mohs. The employer can be foreign or Malaysian. The annual income of a foreign digital freelancer in Malaysia should be more than 24,000 US dollars, while the annual income of a native Malaysian digital freelancer should be more than 36,000 ringgit (7,863 US dollars).
The Malaysian governme has targeted 80,000 digital freelancers by 2025 through the De Raau 8 visa program.
Indonesia’s third competitor: Singapore
Singapore’s Global Investor Program was launched in 2004 and has undergone many changes since then. This program is one of the preferred routes for foreign investors and their families to obtain permane residency in Singapore.
Singapore’s Economic Developme Board (EDB), which runs the program, announced new requiremes for eligible applicas.
From March 2023, the Singapore governme has increased the investme criteria for the GIP program. The new criteria and conditions for the GIP program are:
- Investme of at least S$10 million (US$7.4 million) in a new or existing business in Singapore
- Invest S$25 million (US$18.5 million) in an EDB-registered GIP fund in Singapore businesses or
- Establishing a Singapore-based family office with assets under manageme of at least S$200 million (US$148 million), the applica must invest at least S$50 million (US$37.1 million) in each of the following 4 investme categories:
- Buy Singapore governme bonds and securities
- Injecting private equity io unlisted and Singapore-based businesses
- In companies listed on exchanges licensed by the Monetary Authority of Singapore
- In funds distributed by Singapore licensed fund managers
Between 2020 and 2022, a total of 200 investors received Singapore permane residence permits through this scheme. The Singapore governme has not released information on the total number of successful applicas since raising the qualifying investme criteria, but they aim to attract investors and high-net-worth afflue applicas.
Conclusion
We are experts Immigration Institute In this article, we reviewed the Indonesian golden visa to attract foreign investors and the investme visas of Malaysia, Singapore and Thailand and preseed the benefits of this type of investme. Apart from the permane residence permit and social privileges and rights, the applicas enjoy the advaage of buying houses and properties as well as earning profit from the real income of houses and properties in these couries.
