What is E28B Investor Golden Visa (Company Establishment)?

The E28B is a limited stay visa for foreign nationals from any country who intend to invest in Indonesia by establishing a new company. Applicants may choose a 5-year or 10-year stay permit depending on the value of their investment commitment. This visa is intended for individual investors establishing a new entity, rather than existing shareholders of an already-established company.

Allowed Activities

Holders may carry out investment and business-related activities in connection with the company being established, including business discussions, negotiations, and signing agreements. Permitted activities also include serving as a board member or commissioner, overseeing production processes at the company, bringing family members to reside in Indonesia, exiting and re-entering Indonesia while the Re-entry Permit remains valid, pursuing education through the activity-stacking mechanism, tourism, shopping, and visiting friends or family. Holders may also receive compensation or benefits arising from their investment or position held.

Sponsor Requirements

Period of Stay

Applicants may choose an initial stay permit of 5 years or 10 years, extendable in accordance with immigration regulations. The visa itself is valid for 90 days from the date of issuance; if unused within that period, a new visa must be applied for. Visa validity is separate from the length of stay granted.

Visa Fees

* Visa fees vary by selected duration (5 years or 10 years) and are confirmed during application review. Approval, permitted activities, and duration of stay are determined solely by Indonesian Immigration.

Submission Requirements

• Valid passport (minimum 6 months validity)
• Proof of living expenses (last 3 months bank statement, minimum US$2,000 or equivalent)
• Recent color photograph (within the last year)
• Detailed curriculum vitae (CV)
• Travel itinerary
• Proof of share ownership in the foreign company (internationally audited financial statements)
• Proof of the foreign company's revenue/sales (internationally audited)
• Signed investment commitment statement (US$2,500,000 for 5 years / US$5,000,000 for 10 years)
• E-visa account at evisa.imigrasi.go.id

Specific Requirements

For the 5-year visa: proof of share ownership in the foreign company (from internationally audited financial statements), proof of the foreign company's revenue/sales (internationally audited), and a signed commitment statement to establish an Indonesian company with a minimum investment of US$2,500,000 within 90 days of entering Indonesia. For the 10-year visa: the same ownership and revenue documentation, plus a signed commitment statement to establish an Indonesian company with a minimum investment of US$5,000,000 within 90 days of entering Indonesia. Audited financial statements must be prepared by a recognized international accounting firm (e.g. Deloitte, PwC, EY, KPMG, Grant Thornton, BDO, or an equivalent recognized firm).

Other Provisions

Stateless persons and holders of travel documents other than a national passport must provide proof of permission to return and an onward/return ticket. A Limited Stay Permit (ITAS) and a Re-entry Permit are issued automatically once entry is approved by an immigration officer at the checkpoint. Holders must not overstay the granted period, must not work outside the scope of the permit, and must not sell goods or services except where required by their role.