To lure global talent, Indonesia’s new Golden Visa must go beyond long-term stay permits

[JAKARTA] In the global hunt for talent, Indonesia is beginning to recognise that size alone is not enough to attract the world’s best to its shores. Indeed, over the past few years, the country has sought to limit the inflow of foreigners and boost its domestic talent pool instead.

Having recently recognised that to boost its fast expanding tech sector, Indonesia must also rely on foreign talent, the government has said it will introduce its Golden Visa policy sometime in August. The policy, which will waive visas for companies or individuals who make large investments, may need to offer much more if it is to succeed over the long haul.

Currently, foreigners working in Indonesia must apply for work permits which are renewed on an annual basis. To qualify for this permit, a foreigner needs a sponsor – either a local company who is hiring the person, or a foreign entity who is posting the individual to Indonesia.