Indonesia investor visa (E28A, E28B and E28C)

E28A is the classic investor visa for a foreign shareholder of an Indonesian company registered with the Ministry of Investment (BKPM). The company acts as sponsor. E28B is a golden visa for individual investors who will establish a company in Indonesia. E28C is a golden visa for individuals who buy Indonesian government bonds, shares of listed companies or mutual funds.

Immigration also lists further golden-visa codes for corporate cases: E28D (branch or subsidiary), E28F (branch or subsidiary in the new capital Nusantara) and E28G (representatives of a parent company).

E28A needs the Ministry of Law decree ratifying the company, company bank statements for the last two months (new companies may submit them within 90 days of the ITAS) and an application letter. E28B needs proof of share ownership in a foreign company and its sales turnover, shown in audited statements from an internationally recognised accounting firm on the immigration list.

E28C needs proof of ownership of the bonds, shares, funds or property. All three also require the standard passport, photo, CV, itinerary and three-month bank statement of at least USD 2,000.

E28A: share ownership of at least IDR 10,000,000,000 in the sponsoring company. Shareholders below that amount who serve as director or commissioner must take the matching work visa instead.

E28B: a written commitment to set up a company in Indonesia with paid-up capital or investment of at least USD 2,500,000 for five years or USD 5,000,000 for ten years, fulfilled within 90 days of arrival. E28C: Indonesian government bonds, listed shares or listed mutual funds worth at least USD 350,000 for five years; for ten years, at least USD 700,000 in those instruments or a strata-title unit or apartment worth at least USD 1,000,000.

E28A costs IDR 7,000,000 for one year or IDR 9,500,000 for two years. E28B and E28C cost IDR 13,000,000 for five years (visa IDR 500,000, verification IDR 2,000,000, ITAS IDR 7,000,000, re-entry permit IDR 3,500,000) and IDR 19,500,000 for ten years (ITAS IDR 12,000,000, re-entry permit IDR 5,000,000).

For E28A the sponsoring company files the application from its e-Visa account; E28B and E28C applicants open their own account because no sponsor is needed. Decisions come four (E28A) or five (E28B, E28C) working days after payment, and the visa must be used within 90 days.

The ITAS and re-entry permit are issued automatically at the border. Golden-visa investors then have 90 days to meet their investment commitment where one applies.

Investor visa holders may invest and run business activities, sit on the board of directors or commissioners of their company, supervise its production, receive the returns of their investment, bring their family and study through the dual-activity permit. They may not work outside the scope of their permit.

Foreign investment is among the categories that can later convert an ITAS into the permanent stay permit (ITAP).