Jakarta, Jul 25 (IANS): Indonesian President Joko Widodo launched the Golden Visa Indonesia programme on Thursday, aimed at simplifying the process for foreigners seeking residence permits to invest and work in Indonesia.

In his remarks at the launching ceremony in Jakarta, Widodo said the Golden Visa would allow more good quality travelers to invest and be productive while staying in the Southeast Asian country.

"Indonesia should be a promising investment destination, a destination for global talents to work. The Golden Visa will provide a huge multiplier effect for the country, starting from capital gains, employment opportunities, technology transfers, to improvement of the quality of human resources," he said, adding that the special visa should be only granted to selected applicants.

The Golden Visa offers exclusive benefits to its holders, akin to a second home visa, Xinhua news agency reported.

These advantages include extended stay periods, streamlined entry and exit procedures, and efficiency by eliminating the need for a Limited Stay Visa application at immigration offices. Eligible recipients encompass international investors, businesspeople, global talents, and certain overseas travelers.

Foreign investors meeting specific investment criteria can obtain a residence permit in Indonesia for five to 10 years through the Golden Visa program.

Widodo emphasised the importance of selecting applicants carefully, ensuring that only those with proven contributions receive this special visa. State security and national benefits remain paramount considerations in the selection process.