Sam Altman receives first Golden Visa in Indonesia

Indonesia's Directorate General of Immigration has made a historic move by awarding the nation's inaugural golden visa to OpenAI founder, Sam Altman. Altman, alongside Elon Musk, was in Indonesia earlier this year. His tour swept him across Beijing, Tokyo, Seoul, and Singapore.

This noteworthy development grants several privileges to Altman over a ten-year period:

• Unrestricted Access: The visa endows Altman with the ability to freely enter and reside in Indonesia.

• Opportunities and Ownership: It affords him the liberty to start new ventures within the country and possess local assets.

• Citizenship: The golden visa includes a fast track to Indonesian citizenship application.

Altman’s visa class is aimed at foreign investors interested in establishing companies in Indonesia. However, he falls under a specific subset of recipients who are globally recognized figures that can contribute positively to the country, as stipulated by Indonesia’s director general of immigration, Silmy Karim.

Golden visa beneficiaries need to secure an endorsement from the central government. In this instance, the assent came directly from President Joko Widodo.

• Potential Recipients: Other recipients could be investors, digital nomads, and former Indonesian citizens living abroad.

• For individual investors: A minimum investment of $2.5M for a 5-year visa and an investment of $5M for a 10-year visa.

• For corporate applicants: A $25M investment for a 5-year stay and a $50M investment for a 10-year stay. Additionally, company directors will each have their own visa.

• For Individual foreign investors not planning to start a company: An investment of $350,000 for a 5-year term while an investment of $700,000 for a 10-year term. These funds could be allocated towards government bonds, shares of listed companies, or placed in fixed deposits and savings accounts.