Indonesia continues to strengthen its immigration and investment framework to attract foreign capital, business founders, corporate groups, and global talent. For foreign investors, two immigration routes are often compared: Investor KITAS and Golden Visa.
Both options allow foreign investors to stay in Indonesia for investment-related purposes, but they are not the same. The right choice depends on the investor’s business structure, investment value, timeline, role in the company, and long-term plan in Indonesia.
This article explains the key differences between Investor KITAS and Golden Visa, including legal basis, stay period, sponsor requirements, investment threshold, permitted activities, and practical recommendations for foreign investors.
1. What Is Investor KITAS?
Investor KITAS is the common term used for a limited stay permit for foreign investors. In the current official immigration classification, this route is reflected in the E28A Visa Investor, which is a limited stay visa for foreign investors entering Indonesia for investment-related activities.
With an E28A Investor Visa, a foreign investor may invest, conduct business and investment-related activities, act as a director or commissioner in the company where the foreigner invests, supervise production of goods or services, bring family members, and enter and exit Indonesia as long as the re-entry permit remains valid.
The E28A Investor Visa offers a stay period of 1 year or 2 years, and the stay permit can be extended online by the sponsor through the registered e-visa account.
This visa requires a sponsor. The official requirements include a valid passport, proof of living expenses of at least USD 2,000, recent photograph, CV, itinerary, proof of share ownership of at least IDR 10 billion or equivalent in the sponsoring company registered with the Ministry of Investment/BKPM, company establishment approval from the Ministry of Law and Human Rights, and the company’s bank statement.
In simple terms, Investor KITAS is suitable for a foreign shareholder who already has an Indonesian investment company, usually a PT PMA, and needs a practical stay permit to manage, monitor, or support the company’s operations.
2. What Is Golden Visa?
Golden Visa is Indonesia’s long-term residence pathway for selected foreigners, including investors, business owners, researchers, top students, global figures, and other qualified applicants. It is designed for foreigners who want to make Indonesia a long-term base for work, study, investment, or strategic contribution.
For investors, Golden Visa generally provides a 5-year or 10-year stay period, depending on the category and investment value. As of 18 May 2026, the Directorate General of Immigration reported that 1,274 Golden Visas had been issued, generating IDR 52.1 trillion in investment since the program’s launch on 25 July 2024.
Golden Visa also provides several advantages, including long-term stay for 5–10 years, no sponsor requirement for eligible categories, the ability to bring family, and priority immigration services.
3. Legal Basis and Regulatory Background
Indonesia’s visa and stay permit framework is regulated under Minister of Law and Human Rights Regulation No. 22 of 2023 on Visa and Stay Permit. This regulation states that foreigners entering Indonesia must hold a valid visa unless exempted by law, and that visa categories include visit visas and limited stay visas.
The regulation was later amended by Minister of Law and Human Rights Regulation No. 11 of 2024, which adjusted visa and stay permit rules, including Golden Visa policy.
Golden Visa service fees are also supported by Minister of Finance Regulation No. 82 of 2023, which regulates non-tax state revenue for Golden Visa services.
4. Main Types of Golden Visa for Investors
a. E28B — Individual Investor Establishing a Company
The E28B Visa Investor is for an individual foreign investor who intends to establish a company in Indonesia. It provides a 5-year or 10-year stay and does not require a sponsor.
With this visa, the holder may invest, conduct business and investment-related activities, establish a company, act as a director or commissioner, supervise production, bring family members, and enter and exit Indonesia during the re-entry permit period.
For a 5-year stay, the applicant must commit to establishing a company in Indonesia with placed capital or investment value of at least USD 2.5 million, to be fulfilled within 90 days from entry. For a 10-year stay, the required commitment is at least USD 5 million, also to be fulfilled within 90 days from entry.
b. E28C — Individual Investor in Capital Market Instruments
The E28C Visa Investor is designed for individual investors who intend to purchase Indonesian government bonds, shares in Indonesian public companies, or mutual funds in Indonesian public companies. It provides a 5-year or 10-year stay and does not require a sponsor.
For a 5-year stay, the applicant must hold at least USD 350,000 in eligible Indonesian government bonds, public company shares, or mutual funds. For a 10-year stay, the requirement is at least USD 700,000, or ownership of an apartment or condominium worth at least USD 1 million.
c. E28D — Investor Establishing a Branch or Subsidiary
The E28D Visa Investor is intended for foreigners who will serve as directors or commissioners in a company to be established in Indonesia as a branch or subsidiary of a foreign company. It provides a 5-year or 10-year stay and does not require a sponsor.
For a 5-year stay, the foreign company must commit to investing at least USD 25 million in Indonesia within 90 days from entry. For a 10-year stay, the commitment increases to at least USD 50 million.
5. Investor KITAS vs Golden Visa: Key Comparison
Purpose
Investor KITAS / E28A: For foreign investors linked to an existing Indonesian company.
Golden Visa / E28B, E28C, E28D: For high-value investors seeking long-term stay and investment certainty.
Stay Period
Investor KITAS / E28A: 1 year or 2 years.
Golden Visa: 5 years or 10 years.
Sponsor Requirement
Investor KITAS / E28A: Requires a sponsor.
Golden Visa: Generally does not require a sponsor for E28B, E28C, and E28D investor categories.
Investment Threshold
Investor KITAS / E28A: Requires share ownership of at least IDR 10 billion in the sponsoring company.
Golden Visa: Starts from USD 350,000 for eligible capital market investment, USD 2.5 million for company establishment, or USD 25 million for corporate branch/subsidiary route.
Best For
Investor KITAS / E28A: Existing PT PMA shareholders, directors, or commissioners.
Golden Visa: High-net-worth investors, founders, corporate groups, long-term strategic investors, and investors seeking long-term residency convenience.
Family Stay
Investor KITAS / E28A: Possible.
Golden Visa: Possible.
Business Role
Investor KITAS / E28A: Investment, management, supervision, director/commissioner activities in the company where the investor holds shares.
Golden Visa: Investment, business setup, director/commissioner activities, capital market investment, or corporate expansion depending on the selected visa category.
Cost Structure
Investor KITAS / E28A: Usually lower immigration cost, but shorter stay period.
Golden Visa: Higher immigration cost, but longer stay period and stronger long-term convenience.
Practical Advantage
Investor KITAS / E28A: More accessible for existing PT PMA investors.
Golden Visa: Longer validity, no sponsor for key investor categories, and better long-term mobility.
6. When Should Foreign Investors Choose Investor KITAS?
Investor KITAS is usually the better option when the investor already has an Indonesian company and wants a practical immigration solution for day-to-day business involvement.
Foreign investors should consider Investor KITAS if:
- They already own shares in a PT PMA.
- Their shareholding meets the Investor KITAS threshold.
- They need to stay in Indonesia for operational, supervisory, or management purposes.
- They are not ready to commit to Golden Visa-level investment.
- They prefer a lower-cost and more conventional immigration route.
- They do not need a 5-year or 10-year stay permit yet.
- They have a sponsoring company ready to support the visa application.
Investor KITAS is especially relevant for small to mid-sized foreign investors who are building or operating a business in Indonesia but do not yet need a long-term immigration facility.
However, investors must be careful. If the foreigner’s investment value or shareholding does not meet the investor stay permit requirements, or if the person performs work outside the permitted investor scope, a work-related stay permit and manpower compliance may be required.
7. When Should Foreign Investors Choose Golden Visa?
Golden Visa is more suitable for investors with larger investment plans, longer residency needs, or strategic business expansion in Indonesia.
Foreign investors should consider Golden Visa if:
- They want to stay in Indonesia for 5 or 10 years.
- They want a sponsor-free route under eligible investor categories.
- They are establishing a company with substantial capital.
- They are investing in Indonesian government bonds, public company shares, mutual funds, or qualifying property.
- They represent a foreign company establishing a branch or subsidiary in Indonesia.
- They want more long-term certainty for business mobility, investment planning, and family relocation.
- They want immigration convenience while building a larger investment footprint in Indonesia.
Golden Visa is also attractive for corporate groups that want to place directors or commissioners in Indonesia for long-term investment supervision, especially when establishing subsidiaries, branches, factories, or regional operations.
8. Practical Decision Guide
Choose Investor KITAS if:
- You already have a PT PMA in Indonesia.
- Your investment is significant but below Golden Visa level.
- You need a 1–2 year stay permit.
- You have a sponsoring company.
- You are actively managing or supervising your Indonesian business.
- You want a more cost-efficient option.
- Your business presence in Indonesia is already established.
Choose Golden Visa if:
- You want long-term residency for 5–10 years.
- You prefer a sponsor-free immigration route.
- You are making a high-value investment.
- You are establishing a new company in Indonesia with at least USD 2.5 million.
- You are investing in Indonesian capital market instruments.
- Your foreign company is setting up a branch or subsidiary in Indonesia.
- You want stronger long-term convenience for investment, travel, and family relocation.
9. Common Mistakes Foreign Investors Should Avoid
Many foreign investors make immigration decisions before reviewing their full investment structure. This can create delays, rejections, or future compliance issues.
Common mistakes include:
- Applying for Investor KITAS without meeting the required shareholding threshold.
- Assuming Golden Visa automatically replaces company licensing obligations.
- Confusing passive investment Golden Visa with company establishment Golden Visa.
- Entering Indonesia before preparing the correct corporate and investment documents.
- Holding a director or commissioner position without checking the permitted activity scope.
- Not aligning immigration status with OSS, PT PMA, tax, manpower, and corporate documents.
- Missing the 90-day investment realization commitment under certain Golden Visa categories.
- Choosing a visa route based only on duration, not on the real investment structure.
- Treating immigration approval as the same as business licensing approval.
- Not preparing family stay planning from the beginning.
The best approach is to review the investor’s immigration plan together with the company structure, investment value, shareholder documents, OSS licensing, tax registration, and intended business activities.
10. Conclusion: Which One Is Better?
There is no single answer for every investor.
Investor KITAS is better for foreign investors who already have an Indonesian company and need a practical stay permit for business management, supervision, or director/commissioner activities.
Golden Visa is better for high-value investors who want longer stay rights, stronger mobility, sponsor-free application under eligible categories, and long-term certainty for investment and family relocation.
For many foreign investors, the best strategy is to start with the company and investment structure first, then choose the immigration route that matches the real business plan.
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Planning to invest, establish a PT PMA, or relocate as a foreign investor in Indonesia?
Accura can help you assess whether Investor KITAS or Golden Visa is the right option for your situation. Our team can assist with company establishment, investment structuring, OSS licensing, visa documentation, and immigration compliance.
Contact Accura today for a Foreign Investor Visa & Company Setup Consultation — and choose the right legal route before you enter, invest, or operate in Indonesia.