Indonesia has become an attractive destination for foreign investors due to its growing economy and strategic location in Southeast Asia. One essential aspect for investors looking to establish or expand their business in Indonesia is understanding the ITAS Investor visa. This visa allows foreign nationals to live and work in Indonesia legally, facilitating their investment activities. In this article, we will explore what ITAS Investor is, its benefits, requirements, and the process to obtain it.
Also read: How to Apply for e-Visa Indonesia
What is ITAS Investor?
ITAS Investor, or the Temporary Stay Permit for Investors, is a visa specifically designed for foreign nationals who invest in Indonesia. It allows investors to stay in Indonesia for an extended period, typically up to two years, with the possibility of renewal. This visa is crucial for those who need to be physically present in Indonesia to manage their investments and oversee their business operations.
Benefits of ITAS Investor
The ITAS Investor visa offers several advantages, including:
Legal Residency
The ITAS Investor visa provides legal residency status in Indonesia, which is a significant advantage for investors. Legal residency means that the investor can live in Indonesia without the need to frequently leave the country to renew their visa status. This stability allows investors to focus on their business activities without the interruption of visa runs. Legal residency also facilitates access to local services, such as banking and healthcare, which are essential for smooth daily operations.
Work Authorization
One of the primary benefits of the ITAS Investor visa is the work authorization it grants. This authorization allows investors to work legally in Indonesia, which is crucial for those who need to be actively involved in the management and operations of their business. The ability to work legally ensures that investors can participate in decision-making processes, oversee their investments, and directly contribute to the growth and success of their business. It also provides peace of mind, knowing that their activities are compliant with Indonesian laws.
Multiple Entry
The ITAS Investor visa allows multiple entries into Indonesia, offering flexibility for investors who may need to travel frequently for business purposes. With this visa, investors can leave and re-enter Indonesia without having to apply for a new visa each time. This is particularly beneficial for investors with business interests in multiple countries or those who need to attend international meetings and conferences. The multiple-entry feature ensures that investors can maintain their business connections and manage their investments effectively.
Family Inclusion
Investors can include their spouse and children in the ITAS Investor visa application, allowing their family to stay with them in Indonesia. This family inclusion is a significant benefit, as it provides stability and support for the investor while they focus on their business. Having family members with them can enhance the quality of life and help with cultural adaptation. It also ensures that the investor can fulfill family responsibilities without having to travel back and forth between countries.
Also read: How to Get Retirement Visa Indonesia
Requirements for ITAS Investor
Eligibility Criteria
To qualify for an ITAS Investor visa, applicants must meet specific eligibility criteria. These include:
- Investment Threshold: The investor must have a minimum investment in an Indonesian company. The required investment amount can vary, but it generally ranges from USD 1 million to USD 2.5 million.
- Company Ownership: The applicant should be a shareholder or owner of an Indonesian company. The company must be a legal entity registered under Indonesian law.
- Business Plan: A detailed business plan outlining the nature of the investment, projected growth, and its potential impact on the Indonesian economy.
- Employment: The investor must demonstrate that they will be employed in a managerial or executive position within the company.
Documents
Applicants need to provide a comprehensive set of documents, including:
- Passport: A valid passport with a minimum of 18 months validity.
- Company Documents: Legal documents of the Indonesian company, such as the deed of establishment, business license, and taxpayer identification number.
- Investment Proof: Evidence of the investment made, including bank statements, investment agreements, and share certificates.
- Health Insurance: Proof of health insurance coverage for the duration of the stay in Indonesia.
- Police Clearance: A police clearance certificate from the applicant’s home country, indicating a clean criminal record.
Also read: President Joko Widodo Launches Indonesian Golden Visa
The Application Process
Step-by-Step Guide
Applying for an ITAS Investor visa involves several steps:
- Initial Application: The process begins with submitting an application to the Indonesian Investment Coordinating Board (BKPM). This application includes the investment plan and required documentation.
- Approval: Once the BKPM approves the application, the investor receives a recommendation letter.
- Visa Application: The investor then submits the recommendation letter, along with other required documents, to the Indonesian Immigration Office.
- Visa Issuance: Upon approval by the Immigration Office, the ITAS Investor visa is issued. The investor must then register with the local immigration office in Indonesia within 30 days of arrival.
- Biometric Data: During registration, the investor provides biometric data and receives a limited stay permit card (KITAS).
Renewal Process
The ITAS Investor visa can be renewed before it expires. The renewal process is similar to the initial application and requires updated documents and proof of continued investment in Indonesia.
Challenges and Considerations
Potential Challenges
While the ITAS Investor visa offers numerous benefits, there are challenges and considerations that investors should be aware of:
- Complexity: The application process can be complex and time-consuming, requiring careful preparation and attention to detail.
- Regulatory Changes: Indonesian immigration laws and regulations may change, impacting the requirements and process for obtaining an ITAS Investor visa.
- Cultural Adaptation: Foreign investors may face challenges adapting to the cultural and business environment in Indonesia.
Professional Assistance
Given these challenges, it is often advisable for investors to seek professional assistance. Immigration consultants and legal experts can provide valuable guidance, ensuring a smooth and successful application process.
Conclusion
The ITAS Investor visa is a valuable tool for foreign investors looking to establish or expand their business operations in Indonesia. By providing legal residency, work authorization, and multiple entry privileges, this visa facilitates investment and contributes to the growth of the Indonesian economy.
For investors seeking to navigate the complexities of the ITAS Investor application process, professional assistance can be instrumental. Devisa Global Services offers comprehensive visa application services, helping investors obtain the ITAS Investor visa efficiently and effectively. Contact us today to ensure a smooth and successful visa application experience, enabling you to focus on your investment and business goals in Indonesia.