Golden visa innovation policy: An alternative strategy for increasing investment

Ruhiyat M. Tolib, Yogi Suprayogi Sugandi, Asep Sumaryana, Nina Karlina

Article ID: 9257
Vol 9, Issue 1, 2025

VIEWS - 37 (Abstract)

Abstract


The golden visa is a regulation designed to facilitate foreign nationals through a residence permit scheme with an emphasis on investment and citizenship. This research aims to look at the development of the golden visa as an innovation policy, and find out how its implications for the flow of foreign investment into Indonesia. This research uses online research methods (ORM) to discover new facts, information and conditions through technology and internet searches. The aspects used to conduct analysis in this descriptive qualitative research are using innovation policy instruments which include regulatory, economic, financial, and soft instruments. The research findings show that the golden visa as an innovation policy has great potential to support national development through investment in priority sectors. However, its implementation needs to be done carefully with strict supervision and inclusive regulations so as to mitigate risks such as money laundering and property price inflation. That way, golden visas can encourage sustainable and inclusive economic growth through the smooth flow of incoming foreign investment.


Keywords


foreign investors; golden visa; investment; residence permits; Indonesia

Full Text:

PDF


References


ASEAN Briefing. (2024). Indonesia launches Golden Visa to drive investment. https://www.aseanbriefing.com.

bkpm.go.id. (2023). Kajian Upaya Pemerintah Indonesia dalam Mendorong Investasi Global dan Ekonomi Hijau.

Bond, S. (1999). Microeconometric models of investment and employment. Handbook of Econometrics, June.

Borrás, S., Edquist, C. (2013). The choice of innovation policy instruments. . Technological Forecasting and Social Change, 80(8), 1513–1522.

Chien, F., Kamran, H. W., Nawaz, M. A. (2021). Assessing the prioritization of barriers toward green innovation: SME Nexus. Environment, Development and Sustainability, 23(7), 10493–10512.

Ditjenim, H. (2022). Siaran pers : Visa Investor Gagal Terbit, Terjadi Kerusakan Sistem Interkoneksi di BKPM.

Edquist, C. (2003). Innovation Policy—A Systemic Approach. In The Globalizing Learning Economy (pp. 219–238). Oxford University PressOxford. https://doi.org/10.1093/0199258171.003.0013

Edquist, C. (2016). Innovation-related Public Procurement as a Demand-oriented Innovation Policy Instrument Papers in Innovation Studies Innovation - related Public Procurement as a Demand - oriented Innovation Policy Instrument. August 2015.

Fagerberg, J. (2018). Innovation policy: Rationales, lessons and challenges. In Innovation, Economic Development and Policy: Selected Essays (pp. 93–108). Edward Elgar Publishing Ltd. https://doi.org/10.1111/joes.12164

Fia.ui.ac.id. (2023). Berebut Investor dengan Visa Golden, Perlukah?

Gammeltoft, P., Kokko, A. (2013). Introduction: Outward foreign direct investment from emerging economies and national development strategies: Three regimes. International Journal of Technological Learning, Innovation and Development, 6(1–2), 1–20. https://doi.org/10.1504/IJTLID.2013.051695

kemenkeu.go.id. (2023). Peraturan Menteri Keuangan Nomor 82 Tahun 2023.

Pfotenhauer, S. M., Juhl, J., Aarden, E. (2019). Challenging the “deficit model” of innovation: Framing policy issues under the innovation imperative. Research Policy, 48(6), 1137–1152.

Reips, U.-D. (2006). Web-Based Methods. In Handbook of multimethod measurement in psychology. (pp. 73–85). American Psychological Association. https://doi.org/10.1037/11383-006

Schot, J., Steinmueller, W. E. (2018). Three frames for innovation policy: R&D, systems of innovation, and transformative change. Research Policy, 47(9), 1554–1567.

Schwarz, S., Reips, U. (2001). CGI versus JavaScript: A web experiment on the reversed hindsight bias. Dimensions of Internet Science, 75–90.

seskab.go.id. (2023). Golden Visa: Keuntungan, Kerugian, dan Kemungkinan Penerapannya di Indonesia.

https://setkab.go.id/golden-visa-keuntungan-kerugian-dan-kemungkinan-penerapannya-di-indonesia/

Torfing, J., Ansell, C. (2020). Strengthening political leadership and policy innovation through the expansion of collaborative forms of governance. In Political Innovations (pp. 45–70).

World Bank. (2010). Innovation Policy. In Elgar Encyclopedia on the Economics of Knowledge and Innovation. https://doi.org/10.4337/9781839106996.00033




DOI: https://doi.org/10.24294/jipd9257

Refbacks

  • There are currently no refbacks.


Copyright (c) 2025 Ruhiyat M. Tolib, Yogi Suprayogi Sugandi, Asep Sumaryana, Nina Karlina

License URL: https://creativecommons.org/licenses/by/4.0/

This site is licensed under a Creative Commons Attribution 4.0 International License.