Information, not advice: Golden Visa Indonesia is an independent editorial guide — not the Government of Indonesia, not the Directorate General of Immigration, and not a law firm or licensed adviser. Thresholds are USD-set, IDR-monitored, change by regulation, and apply case-by-case; figures are "last verified June 2026" — confirm at the e-Visa portal (evisa.imigrasi.go.id) and with licensed Indonesian immigration/tax counsel before acting. We never promise approval. If you engage a partner we introduce, that partner may pay us a referral fee at no cost to you.
Indonesia golden visa government bonds are one of the investment routes under Indonesia’s “Golden Visa” stay‑permit scheme introduced in 2023. On this page, we unpack how the government bond route golden visa actually works in regulation, what is still pending, and what to do if you are targeting bonds rather than operating a company in Indonesia.
As of 15 June 2026, there is still **no active, detailed government bond allocation rule** in the Golden Visa framework equivalent to the company-investment rules. Most “golden visa indonesia bonds” marketing pages gloss over this gap. We do not.
All thresholds and references below are traced to:
– **Permenkumham 22/2023** on Stay Permits (15 August 2023)
– **Permenkumham 11/2024** (amendment to 22/2023; in force 2024)
– **PMK 82/2023** on Non‑Tax State Revenue (PNBP) in Immigration
– Public releases by **Direktorat Jenderal Imigrasi (DGI/Imigrasi)** up to June 2026
Where something is not yet spelled out in a primary text, it is flagged **[VERIFY]** and treated as indicative, not authoritative.
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## What “Indonesia Golden Visa via Government Bonds & Securities” Means
Indonesia’s Golden Visa is not a separate visa class; it is a **set of long‑stay Limited Stay Permits (ITAS) and Permanent Stay Permits (ITAP)** issued under **Permenkumham 22/2023**, tied to “beneficial interest” to Indonesia.
Article 184 of Permenkumham 22/2023 groups investors into:
1. **Company establishment / capital participation**
2. **Purchase of state securities (surat berharga negara / SBN)**
3. **Deposit / savings in Indonesian banks**
4. **Other forms determined by the Minister**
Most of the published, fully‑codified numbers today are in category (1): **company investment** (USD 350,000–700,000+ bands). The **government bond route golden visa** is referenced in the regulation but the **precise nominal thresholds, bond types, maturities, and holding rules are not yet spelled out in a ministerial decision with the same granularity**.
So:
– **Yes** – Golden Visa via Indonesian government bonds is a **regulatory category**.
– **No** – As of **15 June 2026**, there is **no officially published schedule** of “invest X USD in SBN = Y‑year Golden Visa” comparable to the company route.
Any fixed “bond route” numbers you see quoted online without a regulation citation should be treated as **marketing assumptions [VERIFY]**, not law.
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## What the Regulations Actually Say (and Don’t Say) About Bonds
### 1. Legal basis for the bond route
The core articles:
– **Permenkumham 22/2023**
– Article 182–188: Golden Visa (Investor, Corporate, “Global Talent”, etc.).
– Article 184(2)(b): Investors can show beneficial interest via:
> “pembelian surat berharga negara” – purchase of state securities.
– **Permenkumham 11/2024**:
– Adjusts some formulations and clarifies categories, but **does not publish a separate numeric tier sheet for SBN**.
The **key missing piece** is a follow‑up **Keputusan Menteri (Ministerial Decree)** or joint regulation with Ministry of Finance that would:
– Define **minimum purchase amounts** per stay‑duration tier.
– Specify **eligible instruments** (e.g., FR, PBS, ORI, SR, USD global bonds).
– Lay out **holding periods** and what happens on early redemption or sale.
As of the latest DGI releases we track (June 2026), this detailed SBN schedule has not been gazetted.
### 2. Where the “USD 350k / 700k” numbers really live
Most English‑language Golden Visa write‑ups describe:
– USD 350,000 → 5‑year Golden Visa
– USD 700,000 → 10‑year Golden Visa
Those thresholds do exist, but **for company‑investment routes**, not explicitly for bonds:
– For **individual investors** who **create or participate in an Indonesian company**, the operational thresholds are in DGI circulars derived from **Permenkumham 22/2023** (and reflected in PMK 82/2023 for fees).
– Those numbers are then widely — and often lazily — applied by consultants to **all** investment routes (bonds, deposits, etc.) without backing text.
Until an SBN‑specific decision is issued, **you cannot safely assume the bond route is 1:1 cloned from the company‑investment schedule**. It may be harmonised, but that has not yet been published.
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## Current Golden Visa Investor Tiers (Company Route vs. “Bonds” Placeholder)
The table below shows **what is codified** (company route) and **what is still un‑codified [VERIFY]** (bonds), as of **15 June 2026**.
| Route | Stay Duration | Investment Basis | Regulation Status (15 Jun 2026) |
|---|---|---|---|
| Individual Investor – Company | 5 years | Paid-in capital in Indonesian company, widely referenced around USD 350,000 band | Operationalised in DGI practice derived from Permenkumham 22/2023; amounts traceable via government communications |
| Individual Investor – Company | 10 years | Paid-in capital in Indonesian company, widely referenced around USD 700,000 band | Same as above; used by DGI and MoLHR in public socialisation |
| Investor – Government Bonds (SBN) | 5 years | Purchase of Indonesian state securities | Category exists in Permenkumham 22/2023 art. 184(2)(b); no published numeric threshold yet [VERIFY] |
| Investor – Government Bonds (SBN) | 10 years | Purchase of Indonesian state securities | Same as above; DGI has communicated intent but without official amount table [VERIFY] |
| Corporate Investor | 5 & 10 years | Corporate investment into Indonesia; executives may get Golden Visa | Fully defined for company route; no SBN sub‑route defined |
If your primary constraint is **portfolio allocation (bonds vs. equity)** rather than residency per se, this is the regulatory bottleneck you need to be aware of.
For live readings of the investor‑company tier sheet, see our main investor pillar:
Indonesia Golden Visa – Investor Route Overview.
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## Why Is the Bond Route Not Fully Specified Yet?
From reading the primary texts and monitoring DGI briefings, a few non‑speculative reasons emerge:
1. **Coordination with Ministry of Finance (Kemenkeu)**
– SBN issuance and ownership rules are Kemenkeu’s domain.
– Any residency‑linked SBN scheme likely needs MoF input on:
– Non‑resident participation.
– Minimum lots, series, tenor.
– Secondary‑market sale implications.
2. **Macro‑prudential and currency considerations**
– A large inflow of foreign portfolio money anchored only by residence could be volatile.
– Bapepam‑LK/OJK and BI may be asked to comment.
3. **Operational monitoring**
– Immigration would need a routine to **verify and continuously monitor bond holdings**:
– Proof of purchase from primary dealer / bank.
– Cross‑check with KSEI or MoF registries.
– Trigger if holdings fall below minimum before permit expires.
None of this is insurmountable. It just means the **bonds route sits in “announced in principle, not fully engineered” status**.
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## What a Mature Indonesia Golden Visa Government Bonds Route Would Likely Include [VERIFY]
The following items are **scenario‑based**, not yet written into law. They are provided so you can frame questions and due‑diligence, not to be executed on today.
If and when the government bond route golden visa is fully activated, expect the following to be defined in a Ministerial text or joint regulation:
– **Eligible instruments**
– Likely limited to **SBN**: SUN (conventional), SBSN (sukuk), retail SBN (ORI/SR), and possibly global bonds.
– High‑yield local corporate bonds are unlikely to qualify.
– **Minimum nominal value per stay‑tier [VERIFY]**
– Market commentators often recycle **USD 350,000 / 700,000** bands.
– The actual regulation may:
– Use **USD equivalent in IDR** at BI middle rate; or
– State a **fixed IDR amount** that approximates these bands at promulgation date.
– **Holding period / lock‑up [VERIFY]**
– Likely requirement to maintain **continuous holding**:
– For at least **5 or 10 years**, or
– For a minimum fraction of the permit term (e.g., 3 years for a 5‑year permit).
– Early redemption or sale below threshold would:
– Trigger **obligation to top up**, or
– Lead to **Golden Visa revocation**.
– **Custody / registration [VERIFY]**
– Holdings probably need to be:
– In your name or your qualifying entity’s name.
– Held at Indonesian banks or securities firms recognised by Kemenkeu / OJK.
– Verifiable by DGI via periodic statements or data sharing.
None of these are unusual compared with bond‑route golden visas in other countries, but again: **they are not yet codified for Indonesia**.
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## Eligibility Checklist: Who Will Be Able to Use the Bond Route?
Based on the structure in **Permenkumham 22/2023** and the live company route, expect similar **base eligibility** for the bond route:
– **Non‑Indonesian citizen** with valid passport.
– **Clean immigration record** (no deportations / blacklists).
– **No serious criminal convictions**, especially financial crime.
– **Proof of funds** beyond the bond purchase itself (living expenses).
– **Health insurance** that covers Indonesia.
– **Fit and proper assessment** by DGI (background, source of funds) — explicitly mentioned in the Golden Visa chapter.
Additional items likely for SBN route [VERIFY]:
– **Proof of SBN purchase** via:
– Account statements from bank/securities company.
– Transaction confirmations with ISIN/series codes.
– **Statement of commitment** to maintain minimum SBN holdings for the Golden Visa duration.
Golden Visa Indonesia never promises approval: **DGI retains full discretion** even if you tick all boxes.
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## Application Journey: How a Bond‑Route Application Would Sit Within the Golden Visa Flow
Today, the **front‑end process** for all Golden Visa categories (company investor, corporate, “global talent”) is similar:
1. **Pre‑assessment**
– Determine category (investor, corporate, talent).
– Determine duration (5y vs 10y).
– Check that your investment plan matches an allowed category (company, SBN, deposit).
2. **Online application**
– Submission through **DGI’s visa portal**.
– Upload:
– Passport, photo.
– Police clearance.
– Health insurance.
– Proof of funds.
– For company route: company documents and capitalisation evidence.
3. **Payment of PNBP fees**
– Governed by **PMK 82/2023**.
– Includes visa approval, ITAS issuance, re‑entry permits.
– Government fees are in **IDR**; consultants may quote you in USD/EUR as a convenience [VERIFY].
4. **Approval & visa issuance**
– If approved, you receive an **e‑Visa**.
– On arrival or at the immigration office, it is converted into **Golden Visa ITAS**.
Where the bond route will differ (once active):
– **Evidence of investment**
– Instead of (or in addition to) company documentation, you would upload:
– SBN purchase proof.
– Custody statement showing nominal value and series.
– Declaration not to dispose below minimum during permit term.
– **Ongoing compliance**
– Periodic submission of updated statements, or
– Direct electronic verification between Kemenkeu / OJK / DGI [VERIFY].
If you are structuring a move now and want to stay ahead of a future SBN route, we can stage‑plan via the currently active **company route** while keeping space for a **bond re‑allocation** later. Contact us via plan your trip — our team answers on WhatsApp too, and we keep the residency and investment conversations separated by design.
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## Costs: Government Fees vs. Investment Amounts vs. Professional Fees
### 1. Government fees (PNBP)
**PMK 82/2023** sets government fees for immigration services, including:
– Visa approvals.
– Limited stay permits (ITAS).
– Multiple re‑entry permits.
Golden Visa fees are **higher than regular visas** but are still marginal compared to the capital you must invest. The exact IDR amounts vary by:
– Permit length (5 vs 10 years).
– Category (investor vs talent vs corporate).
Because MoF can update PNBP tariffs, treat any fee list online as **time‑bound [VERIFY]** and recheck close to your application date.
### 2. Investment capital
For the **company‑investment route**, typical thresholds publicly cited by DGI/MoLHR socialisation materials (and echoed in practice) are:
– ~USD 350,000 equivalent → 5‑year individual investor Golden Visa.
– ~USD 700,000 equivalent → 10‑year individual investor Golden Visa.
For the **bond route**, no official number is published. Many consultants simply mirror the above; we list this as **unverified** until a regulation or official circular confirms it.
### 3. Professional advisory & execution
Non‑government costs may include:
– Immigration/legal structuring.
– Tax and cross‑border planning.
– SBN purchase execution (bank/securities intermediary).
– Corporate services (if you combine company and bond approaches).
Market ranges we see quoted for **full‑scope Golden Visa advisory** (strategy, documentation, liaison) are:
– Roughly **USD 8,000–25,000 per principal applicant [VERIFY, last surveyed June 2026]** depending on:
– Category (investor vs corporate vs talent).
– Complexity (family, tax planning, corporate structuring).
We do not publish fixed fees because these services are bespoke. Our independence rule: **no one can pay to change what we publish; if you proceed with our partner they may pay us a referral fee at no extra cost to you.**
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## Tax: How Government Bonds & Golden Visa Interact
### 1. Residency vs. tax residency
A Golden Visa ITAS or ITAP is an **immigration status**, not automatically a tax‑resident status.
Under Indonesian tax law (as administered by **Directorate General of Taxes / DJP**), an individual is generally treated as **resident for tax purposes** if:
– Present in Indonesia **>183 days in any 12‑month period**, or
– Resides in Indonesia and intends to stay.
So you can hold a Golden Visa and remain **non‑resident for tax** if your physical presence is limited and your “centre of vital interests” remains abroad. But that is fact‑specific: you need individual tax advice.
### 2. Tax treatment of Indonesian government bonds
As of recent tax rules:
– **Coupon interest on SBN** is subject to **final withholding tax**:
– Historically at **15% for many SBN instruments**, sometimes lower for treaty residents [VERIFY].
– **Capital gains** on SBN secondary‑market trades may have:
– Different treatment vs. coupons.
– Possible treaty relief or domestic exemptions [VERIFY].
The details depend on:
– Bond type (conventional vs sukuk; retail vs wholesale).
– Your holding structure (individual vs entity, domestic vs foreign).
– Tax treaties between Indonesia and your home country.
### 3. Foreign tax interaction
You must also consider **home‑country tax rules**:
– Some jurisdictions tax **worldwide income** for residents and may give:
– Credit for Indonesian withholding tax, or
– Exemption under specific treaty articles.
– Others tax only domestic‑source income.
Because Golden Visa holders often have complex cross‑border lives, we **always separate immigration from tax** and work alongside an international tax adviser. If you want to explore “SBN + Golden Visa + treaty” in your specific structure, you can plan your trip with us; we will coordinate with independent tax advisers over WhatsApp or your preferred channel.
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## Practical Strategy: Interested in Bonds, Applying Today
If your primary objective is **Indonesia exposure via government bonds** plus long‑term stay, but the SBN route is still not fully codified, a pragmatic approach we often see discussed is:
1. **Anchor your Golden Visa via the company route**
– Use the currently active investor‑company scheme.
– This locks in your stay‑permit framework under clear thresholds.
2. **Build your SBN position in parallel**
– Independently purchase Indonesian SBN via:
– An Indonesian bank / securities company; or
– International platforms that access Indonesian issues.
– This aligns your portfolio with an eventual SBN Golden Visa route, if and when regulations are published.
3. **Monitor regulatory updates**
– Track:
– New **Permenkumham** amendments.
– Any **joint MoLHR–MoF decrees** referencing SBN for Golden Visa.
– DGI socialisation sessions.
4. **Evaluate conversion or dual‑qualification options once SBN route is formalised [VERIFY]**
– Future rules might allow:
– Switching from company to SBN basis at extension, or
– Using both company capital + SBN holdings to qualify.
We build these scenario trees into our written briefs so you can see, side by side, the **“company‑only”, “bonds‑only”, and “mixed”** pathways, with stress tests on regulation change risk.
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## FAQs on Indonesia Golden Visa via Government Bonds & Securities
Is the Indonesia golden visa government bonds route active today?
The bond route exists in principle in Permenkumham 22/2023 (purchase of state securities is recognised as “beneficial interest”), but as of 15 June 2026 the government has not published a detailed tier sheet specifying minimum SBN amounts, series, and holding rules. Practically, the only fully operational investor route today is via company investment.
How much do I need to invest in Indonesian government bonds for a Golden Visa?
No official minimum has been published yet specifically for bonds. Many consultants repeat the USD 350,000 and 700,000 thresholds used for company investment, but there is no ministerial text confirming that these apply to SBN. Treat any fixed number for the bond route as indicative only and ask for a regulation citation before acting.
Can I apply now using a combination of company investment and government bonds?
You can apply today using the company-investor route and independently buy Indonesian government bonds as part of your portfolio, but only the company capital is clearly counted by immigration for Golden Visa purposes. There is currently no published rule that lets you “top up” a short company investment with SBN to reach the threshold, although this could change in future regulations.
Will income from Indonesian government bonds be taxed if I hold a Golden Visa?
Yes, coupon income from Indonesian government bonds is subject to Indonesian tax via withholding at source, regardless of your visa type. Golden Visa status does not exempt you from tax. Your overall tax position (resident vs non-resident, treaty relief, home-country treatment) depends on your physical presence and personal tax profile, which should be assessed with a qualified tax adviser.
Should I wait for the bond route or apply via the company route now?
This is a strategy question, not a regulatory one. If your priority is to secure residence certainty soon, the company-investor route is currently the only clear path. If your priority is to keep maximum flexibility and your move to Indonesia is still several years away, monitoring for an eventual SBN regulation may make sense. We can map both scenarios and the trade-offs if you contact us via plan your trip; our team can continue the conversation over WhatsApp with you and your advisers.