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Investor ITAS in Indonesia

Investor ITAS in Indonesia

Obtaining an investor ITAS in Indonesia is one of the most popular immigration strategies among high-net-worth individuals and international investors looking for a place in Southeast Asia from which to expand their businesses and reach new markets faster.
 
But while successfully applying for the investor ITAS in Indonesia is a popular choice among international investors, it is not an easy thing to obtain. On the contrary, Indonesia’s immigration laws are strict when it comes to the ways in which foreigners can live, work and invest in this country.

 Quick Facts  
Permitted nationalities

All foreign citizens can apply for an investor ITAS in Indonesia.

 Business investment option (YES/NO)

Yes

Real estate investment option (YES/NO)

No
Other investment options (if available)

Investment in company shares

Living requirement in Indonesia

Not mandatory

Residence or direct citizenship option

Temporary residence, followed by permanent residence and the option to apply for citizenship by naturalization in Indonesia

Direct immigration with family members (YES/NO)

The holder of an investor ITAS can apply to be joined by his family members

Family members allowed to join the program

Spouse and dependent children

Investor ITAS in Indonesia processing time (approx.)

2 weeks

Additional financial requirements for family members 

No

Timeframe for obtaining residency by investment

 3 years after holding a temporary permit (ITAS), the investor can apply for the permanent permit (KITAP)

*subject to additional conditions

Dual citizenship permitted 

Indonesia does not allow dual citizenship

Reasons to choose Indonesia

– good investment climate,

– full foreign ownership for company owners (subject to conditions and depending on the business sector),

– investment opportunities in various sectors (tourism, agriculture, digital sectors),

– a large internal market,

– access to neighbouring Asian countries

Personal income tax rate

Progressive, with rates of 5%, 15%, 25%, 30%, 35% according to the taxable income value

Visa free travel to other countries (approx. number of countries)

> 30

Applying for an investor visa for Indonesia in 2024 is subject to a clear set of rules and requirements. The applicant will need to prepare the documents and provide sufficient proof that they are able to meet the immigration deposit funds.

Please read below to find out more about the procedure, the submission process, and the general processing time for this visa type. For any additional questions if you wish to apply this year, do not hesitate to reach out to our team.

One thing you should know about immigration to Indonesia is that they do not have an official citizenship by investment program that allows you to access a citizenship certificate and passport in exchange for investing in a project. The path to Indonesian citizenship is a bit more complicated than that, but it is certainly something you can achieve by hiring local experts in Indonesia.

However, what is available to every businessman wishing to emigrate to this country is Indonesia’s Investment ITAS. The ITAS is a type of investor visa that allows you to live and manage your business in Indonesia. It is issued online, and it is the option that remains available after the KITAS (the temporary stay permit card) was abolished.

Getting to the position of meeting the conditions to apply for an investor ITAS in Indonesia is not a simple job. It usually requires the assistance of a team of lawyers to help you through the necessary steps and procedures for immigration to Indonesia and acquiring this status by opening a company in Indonesia.

Our team of experts has helped foreign investors on multiple occasions to obtain the investor ITAS in Indonesia through the investment residency path.

Remaining in the country for a sufficient number of years as an investor can be a route for immigration to Indonesia. If this is your final goal, our team will answer your questions so that you can understand the requirements for a lawful and continuous stay in the country, along with other conditions that may apply. Reach out to us if you need assistance with residence permit applications, or if you have further questions.

Who can apply for an investor ITAS in Indonesia in 2024?

Not all foreign nationals choose to immigrate to Indonesia in this manner as this type of visa in Indonesia is available to any investor who is able to make a minimum investment of IDR 10 billion (about USD 639,986) in shares of an Indonesian company. And in case the applicant holds the position of director in any company, the minimum investment required is IDR 1 billion (or about USD 63,998).

Existing investors who do not comply with the newest minimum investment requirements (i.e., those who have based their initial investments on the amounts that were initially lower) will need to increase these in order to comply with the regulations. If this is your case, our team can give you updated information.

In cases where the company is newly incorporated, you will be able to sponsor your Investor ITAS in Indonesia as soon as you receive your business registration number or NIB and business license. For companies that are already operating, you will need to apply for the required licenses through the Online Single Submission.

As you can see, the list of requirements for obtaining an Investor ITAS in Indonesia requires extensive preparation and often also requires the assistance of experts in various immigration issues and company formation in Indonesia.


Can investor ITAS in Indonesia be used to work?

This type of visa assumes that you are an investor or a company director, so as far as working in Indonesia with this document is concerned, it is subject to one main restriction:

The tasks you perform as a company director must always be oriented to the nature of the commercial activity of your business and cannot be tasks related to the day-to-day operations of the company.

Indonesia’s immigration laws are complex, so it is in the best interest of foreign investors to have Indonesian legal experts guide them through the entire immigration process.


Steps to apply for an Investor ITAS in Indonesia

The application process, in general terms, can be understood in the following steps:

  • Collect and organize the documents required by the Indonesian authorities.
  • Perform a VITAS Application at the Directorate General in Indonesia.
  • Obtain your VITAS certificate.
  • Enter Indonesia within 90 days of obtaining your VITAS.
  • Convert your VITAS visa to an Investor ITAS visa.

Applicants should note that the ITAS, or the temporary stay permit, needs to be maintained for a period of 3 consecutive years before the holder can take into consideration applying for the KITAP, the permanent stay permit card.

Investors who have opened a business can rely on our accountants in Indonesia for complete assistance. We offer bookkeeping services and help companies comply with the requirements for submitting annual financial statements. We also offer audit services, tax filing and payment solutions, general ledger review, or tax counsel for optimization and compliance purposes.

Our team of lawyers can assist you in every step to successfully obtain your investor ITAS in Indonesia which will allow you to live and do business in this country.

Investors in Indonesia need to consider several legal matters, in addition to their lawful stay in the country. While you run your business, our Indonesian lawyers can make sure that the company is compliant in terms of Labour Law, taxation matters, as well as other issues. As needed, we offer full assistance for litigation, as well as counsel for the use of alternative dispute resolution.


Reasons to obtain the investor ITAS in Indonesia

Indonesia represents one of the largest economic platforms for international entrepreneurs and investors. As one of the largest economies in Southeast Asia, Indonesia possesses a number of advantages that make the country an almost irresistible option for investors looking to expand their business presence in Asia.

Here are some of the business advantages of getting an investor ITAS in Indonesia:

  • The corporate income tax is 22%.
  • The tourism and services industry still presents several investment opportunities;
  • Indonesia’s economy reached IDR20,892.4 trillion in 2023 (as measured by the GDP at current market prices), and the GDP per capita has reached a value of IDR75.0 million (approx. USD 4,919);
  • The economy grew by 5.05 percent in 2023;
  • The quarterly increase between Q3 2023 and Q4 2023 was of 0.45%;
  • Overall, in 2023 the country’s economy continued to grow;
  • In December 2023, there were 1.14 million international visitor arrivals in the country, a 20.17% increase compared to December 2022.

If you want to know more about how to get an investor ITAS in Indonesia in 2024, do not hesitate to contact our team of experts in company formation in Indonesia.

Our immigration lawyers in Indonesia can also give you details about the other types of visas and permits.