It’s kind of a no brained if you want to attract businesses.
If I have to deal with a tourist visa and those limitations, I’d never open a company in that foreign country.
It’s kind of a no brained if you want to attract businesses.
If I have to deal with a tourist visa and those limitations, I’d never open a company in that foreign country.
Germany, the United States, Canada, the United Arab Emirates, Ireland, New Zealand, Italy, and Spain.
Sure, Indonesia is going to fit right in with these other "golden visa" destinations. I mean who would want to live in new Zealand when you can live in Jakarta?!
You're forgetting Bali is in Inonesia, a lot of rich people would probably like to get a visa + vacation house there, especially rich people who live closer to it like rich Russians, Indians, etc.
No, I didn't forget.
Bali's primary appeal is that it's cheap. If you have a lazy $2.5m to "set up a business" in the jurisdiction of your choosing then you're probably not going to find Bali appealing in the long term.
Besides which, Bali / Indonesia is well known for it's malleable (corrupt) regulatory officials, which isn't ideal for business.
A lot of the time the business is not as important as the visa itself, if you're filthy rich you can just set up a random business and have a back up plan in case you get chased out of your original country, esppecially if Indonesia doesn't extradite
It's only 5 years though.
Indonesia is well known for it's malleable (corrupt) regulatory officials, which isn't ideal for business.
You got it backwards, it's absolutely ideal for business because the business owner can do whatever the fuck they want and get away with it (e.g. not disposing hazardous waste properly, misusing ground water extraction, etc). Things are improving and the government has been cracking hard on this in the past 10 years though.
Would you wager several million dollars on your ability to make officials ignore you?
If you got one of these golden visa's you may as well hang a sign outside your factory that says "will pay bribes to protect my investment".
But that is exactly what foreign investors did, as long as the profit is way above the bribery expense. It's mostly in the past though. Multinationals companies here are know for their anti-bribery policy and won't engage in bribery. They have mandatory CSR programs though, which to some extends, "bribe" the community around them to tolerate their factory in their neighborhood in the form of building roads, providing clean waters, etc.
Setting up business worth 2.5 million doesn't mean you invest 2.5 million of starting capital.
I think you'll find that's exactly how these visas are intended to work.
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