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Program profile · Edition 1 research

Indonesia - Golden Visa (E28C / E33)

The set's outlier on price: a USD 1,000,000 property threshold, roughly 7.7 times the USD 130,000 second-home construct it replaced in under a year. Against that, no minimum-presence requirement and a term running up to 10 years. But this is a young program - the current framework launched July 2024 - and primary documentation on family terms is thin. Verified against the immigration authority's own pages and the amending regulations; every claim below carries its source, access date and status.

The threshold

Three tracks, four numbers. The E28C individual-investor route offers a 5-year permit for USD 350,000 held in Indonesian government bonds, listed shares, or mutual funds - securities only, no property option at this tier. Its 10-year permit offers a choice: the same securities basket at USD 700,000, or a flat or apartment (rumah susun/apartemen) worth at least USD 1,000,000. The E33 Second Home visa runs 5 years (extendable, capped at 10) for a USD 130,000 deposit in a state-owned bank, or the same USD 1,000,000 property alternative. Confirmed - imigrasi.go.id E28C page: "obligasi pemerintah Indonesia/saham pada perusahaan terbuka di Indonesia, atau reksadana ... paling sedikit US$350.000" and "Bukti kepemilikan rumah susun atau apartemen senilai harga paling sedikit US$1.000.000"; E33 page: "menyimpan dana pada rekening atas nama sendiri pada bank milik negara senilai paling sedikit US$130.000" (both accessed 2026-07-15; corroborated by the Ditjen Imigrasi/Kemlu pocket book, Nov 2023).

The committed investment does not have to be in place before arrival: applicants file a commitment statement and must realize it within 90 days of the ITAS being granted. A second, unrelated 90-day figure appears on the same E28C page for entry-visa validity - the two should not be conflated.

Where you can buy: strata only, not landed houses

Foreigners can never hold Hak Milik (freehold title) in Indonesia. Separately, under Government Regulation 18/2021, a foreigner can legitimately own a landed house on Hak Pakai title - that is land law, not visa law, and it is a real ownership right. But it does not feed the golden visa: the visa regulation defines the qualifying asset narrowly as a strata apartment or flat (rumah susun/apartemen), and a landed house held on Hak Pakai does not qualify for residency under E28C or E33, however it is titled. Confirmed - UNCTAD Investment Policy Monitor entry on GR 18/2021 and ABNR's land-law alert (both accessed 2026-07-17), read against the E28C/E33 wording above.

Living costs and proof of funds

Separate from the investment threshold, applicants on both tracks must show living costs of at least USD 2,000, evidenced by a 3-month bank statement, at application. Confirmed - E28C page: "bukti memiliki biaya hidup selama berada di wilayah Indonesia berupa rekening koran 3 bulan terakhir ... sebesar minimal US$2.000"; E33 page carries the same figure (both accessed 2026-07-17). The Ditjen Imigrasi/Kemlu pocket book from November 2023 had previously stated USD 5,000 for this line; the current live service pages say USD 2,000 and the later, primary source prevails.

What it costs

Immigration fees (PNBP) for the 10-year E28C total Rp 19,500,000 (~USD 1,078) - residence permit Rp 12,000,000, visa Rp 500,000, verification Rp 2,000,000, re-entry permit Rp 5,000,000. The 5-year tracks total Rp 13,000,000 (~USD 719). Confirmed - imigrasi.go.id E28C fee itemization, accessed 2026-07-15.

On top of that, a new-build USD 1,000,000 apartment carries buyer-side property acquisition taxes: a BPHTB acquisition duty of roughly 5% of taxable value, and VAT (PPN) on new units from developers at 11%, with a 12% rate reported for luxury categories from January 2025 under PMK 131/2024. The PPnBM luxury sales tax (20%) is not typically triggered at the USD 1,000,000 threshold - it applies only above roughly IDR 30 billion (~USD 1.66 million). Indicative buyer-side government take at the threshold: roughly 16-17% on top of price for a new-build unit; resale units avoid VAT. On exit, the seller pays a final PPh transfer tax of 2.5%. Reported - consultancy tax guides only; no primary tax text was fetched, and the VAT rate split should be treated as unverified detail (see below).

Term

E28C runs 5 or 10 years depending on the tier. E33 runs 5 years, extendable, with total stay in Indonesia capped at 10 years. Confirmed - imigrasi.go.id, accessed 2026-07-15. For E33, the underlying investment or deposit must be maintained per the applicant's commitment statement; for E28C the page does not spell out the consequence of selling the property mid-permit (see could-not-verify). A path to permanent stay (ITAP) exists after holding ITAS - law-firm summaries report the standard 3-consecutive-year rule applying to investor ITAS categories, but no primary text specific to the golden visa's ITAP eligibility was found. Reported. There is no citizenship path via this investment.

Family

Spouse and children of ITAS/ITAP holders qualify for family stay permits under the E31 series - for example E31B, spouse of an ITAS/ITAP holder. Confirmed - imigrasi.go.id E31B page, accessed 2026-07-15. The Directorate General's own 21 May 2026 press release lists "family facilitation" among the Golden Visa's benefits, without detail. Whether dependants hold the same 5- or 10-year term as the principal, or standard shorter E31 terms, and what age caps apply to dependent children specifically for the golden visa, is not established in any primary text found - only in law-firm summaries claiming spouse and children under 18, extendable for those in education. Reported - treated as unresolved.

Presence

No minimum physical-stay requirement is published for E28C or E33. The binding condition is maintaining the investment, not days in the country: "Nilai Jaminan Keimigrasian harus dipertahankan paling sedikit sesuai dengan surat pernyataan komitmen" (E33 page). Confirmed - both pages checked 2026-07-15. The fee schedule includes a multi-year re-entry permit, consistent with extended absence being permitted under either track.

Rule stability: fast churn, then two years steady

Four material events in four years, then quiet. The October 2022 Second Home Visa set a proof-of-funds line of IDR 2,000,000,000 (then roughly USD 130,000), with a property alternative that was announced but never operationalized in detail; it was formally enforced in December 2022. In September 2023 the Golden Visa legal basis was issued, creating the E28 investor tiers - USD 350,000/700,000 securities and the USD 1,000,000 property option - and folding the second home construct into E33 with its USD 130,000 deposit alternative. The merged framework launched officially on 25 July 2024 and has been unchanged since: E28C/E33 pages re-fetched 17 July 2026 show identical thresholds to the 15 July 2026 capture. Confirmed - Ditjen Imigrasi press releases and the 21 May 2026 two-year-mark release, accessed 2026-07-15 to 2026-07-17.

Severity read: the IDR 2 billion (~USD 130,000) second-home-with-property construct of 2022 became, in practice, a USD 1,000,000 property bar by late 2023 - roughly a 7.7x effective hike for property-based applicants in under a year. Two adjacent items don't change that record: a January 2026 threshold cut applies only to the separate IKN/Nusantara corporate golden-visa track (down to USD 5 million/10 million, an administrative carve-out for the new capital, not the E28C/E33 individual tiers), and a January 2026 ancestry-based "Global Citizenship of Indonesia" status is a different, non-investment product. Reported - IMI Daily and Fragomen, both accessed 2026-07-17.

Nationality access

No published nationality restrictions appear in the E28C or E33 official material. Applicants from Indonesia's "calling visa" higher-scrutiny list (which press reports name as including countries such as Afghanistan, Israel and North Korea) face an extra clearance layer for Indonesian visas generally - standard immigration practice, not a golden-visa-specific rule, and not verified against a current official calling-visa list for this program. Reported. Circulating claims of "10 priority countries" for the golden visa are agency content with no basis in official sources and are excluded as evidence.