The investor visa (investor ITAS) is the type of visa that is designed for foreign investors in Indonesia. To be eligible for an investor visa, the following rules apply:
- An Investor who concurrently holds a position as Director or Commissioner in the PT PMA, must become shareholder of a minimum of IDR 1 billion of shares in the company;
- An investor who does not hold a position as Director or Commissioner in the PT PMA, must hold a minimum of IDR 1.125 billion of shares in the company.
An existing and running company must have all necessary licenses from the Online Single Submission (OSS) in place. In case of a new company , it will be able to become sponsor once it receives its business registration number (NIB) and business license.
Once investors meet the minimum application requirements, they can choose from the following types of visa:
- Index visa 313: stay permit with a validity period of 1 year
- Index visa 314: stay permit with a validity period of 2 years
Advantages of the investor Visa
An investor visa comes with a few advantages:
- Firstly, the ministry of manpower waives the requirement to apply for a work permit. This also applies to investors who concurrently serve as director or commissioner. Regular foreign nationals do require a work permit before they can start working in Indonesia. This waiver of the work permit speeds up the processing time of the immigration permits. Besides that, the fee to the manpower development fund, of USD 100.00 per month, is waived.
- Secondly, the investor stay permit (ITAS) is valid for a period of up to 2 years. This is not only convenient, but also leads to lower processing costs.
The application requirements for the investor
For applying the visa, the sponsoring company needs to have visa online account registered at the Directorate General of Immigration. Besides the minimum shareholding requirement, the investor must provide the following documents for the visa application:
- Passport with minimum validity 18 months (for 1 year visa validity) or 30 months (for 2-year visa validity)
- Photograph with red background
- Bank statements of the last 3 months with a minimum ending balance of USD 2000
- Police Clearance Certificate or Statement letter of Good Conduct
- Statement Letter which states the willingness to pay any medical expenses
- Statement Letter which states the willingness to obey Indonesian Health Protocols
- Covid-19 vaccination certificate (complete dose)
It is important to note that the passport provided during the visa application must be in line with the passport number in OSS where the investor is registered as shareholder of the company.
Processing the Investor ITAS and local registrations
In order to be fully compliant in Indonesia, the investor needs to process the following visas and permits:
- E-Visa (Electronic Visa). The e-visa is valid for 90 days. This means that, as of the issuance date, the investor has 90 days to enter Indonesia. Failure to enter within the 90-day period will render the visa invalid.
- Investor ITAS (Stay Permit). Within 30 days as of the date of entry into Indonesia with the e-Visa, the investor must convert the visa into Stay Permit (ITAS). This conversion is done at the local immigration office, where the investor will need to be present in person. During the conversion phase, the local immigration will retain the original passport for a period of up to 1 week.
- Local Registrations. Once the ITAS is issued, the local registrations need to be arranged. Since the application does not require physical presence of the applicant, the company can arrange these registrations in the background. The local registrations consists out of the police report and temporary residence permit.
Working under an investor visa
Investors can work in Indonesia under certain conditions only:
- Investors who are shareholder and concurrently act as Director or Commissioner. They can start working immediately upon entering Indonesia, as long as the work remains within the scope of their position as Director or Commissioner.
- Investors who are shareholder only. They cannot perform any type of work activities in Indonesia.
In case of any inquiries, please feel free to contact us directly.