Indonesia’s economic landscape is blossoming, presenting a wealth of opportunities for regional and global investors. Lauded as one of Asia’s most attractive business destinations, the nation boasts an abundance of natural resources, a dynamic and technically skilled workforce, and a vast, growing domestic and regional market. Notably, Indonesia’s GDP has demonstrated resilience, experiencing strong growth even amidst the global pandemic downturn.

Reasons to Invest in Indonesia

1. Economic Powerhouse
   With the largest economy in Southeast Asia and the 16th largest globally, Indonesia possesses an impressive GDP exceeding US$1 trillion.
2. Robust Growth Trajectory
   Buoyed by government-driven initiatives promoting domestic and foreign investment, Indonesia’s market exports are projected to reach US$300 billion by 2024, according to Reuters.
3. Favorable Business Environment
   The Indonesian government’s commitment to economic reforms, coupled with a young, educated workforce and a strategic Southeast Asian location, creates a fertile ground for businesses.
4. Demographic Dividend
   As of 2023, 68.1% of Indonesia’s population falls within the prime working age of 15-64, offering a substantial talent pool for diverse industries.
5. Enhanced Connectivity
   Multiple special economic zones (SEZs) and active participation in ASEAN foster increased regional and international trade, solidifying Indonesia’s economic potential.

6 industry opportunities to invest in Indonesia 2024

Summarizing from Forbes, below is the list of 6 business industries that will leverage more profit in 2024.

Financial Technology & E-Commerce

Indonesia’s vast population and underserved segments present a fertile ground for fintech solutions. Despite low financial inclusion, cashless payments see steady progress. The thriving startup ecosystem fosters innovation, particularly in payment solutions, addressing logistical challenges and catering to a growing middle class.

Transportation

Indonesia’s archipelagic geography necessitates optimized logistics across various modes. This creates a dynamic market for companies innovating in this area. Additionally, abundant resources and a strong manufacturing base position Indonesia as a potential hub for electric vehicle production, fueled by government support and rising demand.

Are you interested in setup a business in Indonesia? Head over to talk to our consultants for free insights now!

Renewable Energy & Waste Management

Indonesia boasts diverse renewable energy sources like geothermal, hydro, and solar power. Growing investment in energy efficiency promises a greener future. However, transitioning away from traditional fossil fuels like coal remains a key challenge. Addressing plastic waste, especially in coastal cities, necessitates innovative solutions from startups and established players.

Education Technology

Despite a sizable education system, a skills gap exists in Indonesia. This gap translates into a significant opportunity for EdTech companies offering full courses, online tutoring, and self-learning options to help the workforce of tomorrow acquire relevant skills.

Healthcare

Universal healthcare coverage has increased access to medical services, leading to growth opportunities for hospitals and medical businesses. However, challenges like provider shortages, accessibility issues, and disparities in care require innovative solutions, with telemedicine emerging as a promising avenue due to the geographically dispersed population.

Halal Goods & Technology

As the world’s largest Muslim-majority country, Indonesia boasts a massive demand for halal products and services. Its expertise in Islamic banking, fintech, and halal goods manufacturing positions it as a potential leader in this rapidly growing market.

Already made your business decision? These 5 cities might be a potential spot to set up a business in Indonesia

Indonesian Cities beckon businesses with diverse opportunities. The following cities could become your next destination to start a profitable business in Indonesia according to your type of business.

Semarang

This bustling metropolis offers a dynamic environment for businesses across retail, food & beverage, technology, manufacturing, and tourism. Careful location selection and product/service definition are crucial for success.

Palembang

A thriving city with a rich history, Palembang presents opportunities in the tourism, food, and retail sectors. Its growing economy attracts investors, particularly in the development of new shopping malls.

Makassar

As Indonesia’s smart city, Makassar embraces technology and innovation. Small businesses are thriving, with vertical farms and data-driven economic support programs demonstrating its forward-thinking approach. This city is ideal for those seeking a collaborative environment with seamless cross-border payment processes.

Denpasar

This tourist haven offers a thriving business hub as well. Its large population, diverse culinary scene, and bustling retail options make it ideal for restaurants, cafes, and retail stores. The city’s constant influx of tourists ensures a fertile ground for success in various sectors.

Bogor

Known for its agriculture and research, Bogor presents opportunities in these fields, particularly in coffee production. With government support and potential for technological integration, this city welcomes innovative solutions for sustainable agricultural development.

Want to set up a business in Indonesia?

With Come Visit Indonesia as your trusted partner, success is within reach. We offer comprehensive consultation services to help you navigate every step of your business journey, from initial planning to smooth operation.

Our team of experienced consultants boasts in-depth knowledge of local regulations, legal requirements, and cultural nuances. We’ll guide you through company registration, decipher investment and business licenses, and ensure your operations comply with tax and accounting regulations. We even simplify immigration processes for your personnel, minimizing delays and frustrations.

Contact Come Visit Indonesia today and unlock the full potential of your Indonesian business venture. Let us guide you through every step, ensuring a successful and rewarding journey.

Are you a foreigner seeking to travel to Indonesia? Making sure to understand the latest Indonesia Visa updates is essential to be done before embarking on a trip to the country.

The new visa system mandates all visa applications to be submitted online, offering a streamlined process for your convenience. With this update, new visa codes have been introduced, each tailored to specific purposes of visit to Indonesia, including tourism, business, and more specialized permits.

We are pleased to present to you the latest Indonesia Visa regulations update starting January 2024.

New Indonesian Visa Index and Their Significance

Starting from January 9 2024, Indonesian visas are now categorized from B to E, each denoted by a combination of letters and numbers (e.g., D1, C7A, E28B). These categories entail distinct requirements, validity periods, and permissions. Let’s explore each category in detail:

Index B Visa: Visa on Arrival (VoA)

Formerly, tourists enjoyed visa-free entry to Indonesia. However, due to the COVID-19 pandemic, Indonesia now requires a Visa on Arrival (VoA) for most visitors, excluding ASEAN countries. VoA necessitates an application form and fee, which can be processed either at the airport or through an Electronic Visa on Arrival (eVoA) before arrival.

Who should apply for B Visas:

B1: Visiting friends or family

B2: Business, meetings, or purchasing goods

B3: Receiving medical treatments

B4: Dealing with government matters

Permitted stay: Up to 30 days (extendable once for an additional 30 days)

Multiple entry: No

Permitted work or wages: No

Index C Visa: Single-Entry Visit Visa

C Visas cater to specific activities beyond tourism and entail 30 different indexes for various permits. Activities include business visits, cultural performances, and non-commercial sports. While C visas allow engagement in certain activities, they do not permit working in Indonesia.

Multiple entry: No

Permitted work: No, unless specified on the visa.

Index D Visa: Multiple-Entry Visa

D Visas offer versatility, encompassing activities covered by both B and C visas. They allow for adjustable lengths and validity periods, facilitating multiple re-entries. D visas are ideal for temporary stays and offer diverse options for visitors intending to engage in a broad range of activities.

Permitted stay: Varies depending on the type of activity and visa validity

Multiple entry: Yes

Index E Visa: Limited Stay Permit (KITAS)

E visas extend beyond mere visas, including permits for working, foreign investment, family reunification, and establishing Indonesia as a second home. Despite stringent requirements, the application process is manageable.

Our Recommendations

• For Tourism: D1 Visa or 211a Visa
  
  
• For Business: С2 or D2 Visa
  
  
• For Market Research or Investment: D12 Visa
  
  
• For Digital Nomads: E33G
  
  

What You Need to Know Before Applying for an Indonesia Visa in 2024

Before embarking on an unforgettable journey, understanding the visa application process for foreign nationals is key. The following are the steps to process the right visa applications:

Know Your Visa Type

The first step is determining the appropriate visa type. Here are the most common categories:

• Tourist Visa (VOA): Valid for 30 days upon arrival, ideal for short vacations. Most nationalities qualify, but check if yours requires pre-arrangement.
  
  
• Business Visa: Applicable for work-related activities. Different options exist based on your intended duration and activities.
  
  
• Social Visa: Issued for visits sponsored by family or friends residing in Indonesia.
  
  
• Retirement Kitas: Tailored for those seeking long-term residency after retirement.
  
  

Check Eligibility and Visa Requirements

Each visa type has specific eligibility criteria and documentation requirements. Consult with Come Visit Indonesia to confirm yours. Generally, you’ll need:

1. Passport valid for at least six months beyond your intended stay.
   
   
2. Completed visa application form.
   
   
3. Proof of travel arrangements (flight tickets, hotel bookings).
   
   
4. Proof of sufficient funds for your stay.
   
   
5. Passport-sized photo.
   
   
6. Additional documents may be required depending on the visa type.
   
   

Other Information REgarding Visa to Indonesia

I plan to visit both Jakarta and Bali during my trip. Do I need separate visas for each location?

No, you don’t need separate visas for different locations within Indonesia. Your visa will be valid for the entire country, regardless of where you travel within its borders.

 I’m interested in a multiple entry visa. Can I apply for one at the airport in Jakarta?

Currently, multiple entry visas are not available for issuance upon arrival. You need to apply for it beforehand at an Indonesian embassy or consulate in your home country.

How long does it typically take to process a visa application?

Processing times can vary depending on your nationality and the type of visa you apply for. Generally, it takes around 3-5 working days for a single entry visa and slightly longer for a multiple-entry visa.

Are there any countries that are eligible for visa exemption to travel to Indonesia?

While there isn’t a single “free visa” program for Indonesia, several nationalities can enter the country without obtaining a visa beforehand. As of February 2024, here are some countries whose citizens enjoy visa-free entry to Indonesia:

Visa-free for 30 days:

1. Brunei
2. Cambodia
3. Hong Kong (SAR)
4. Japan (e-passport holders only)
5. Laos
6. Macau (SAR)
7. Malaysia
8. Myanmar
9. Philippines
10. Singapore
11. Thailand
12. Timor-Leste
13. Vietnam

Can I apply for an online visa (e-Visa) for travel to Indonesia?

Yes, Indonesia offers e-Visas for both single and multiple entries. You can apply online through the official Indonesian immigration website (evisa.imigrasi.go.id).

I’ve heard about a new tourist levy for Bali. What do I need to know about it?

Effective February 14, 2024, the Bali Provincial Government implemented a Bali New Tourist Levy for all foreign visitors entering Bali for tourism purposes. This one-time fee of IDR 150,000 (approximately USD 10) must be paid prior to arrival through the official “Love Bali” website or app.

With Come Visit Indonesia, Assistance is a Click Away

Navigating visa processes can be complex. Come Visit Indonesia offers expert assistance throughout the application process, ensuring swift approvals and saving you valuable time.

• Visa type selection and eligibility guidance.
  
  
• Application form review and completion assistance.
  
  
• Document gathering and verification.
  
  
• Online application submission and support.
  
  
• Liaison with immigration authorities if needed.
  
  

Choosing the right visa is paramount for a hassle-free visit or seamless business operations in Indonesia. While visas can be acquired electronically, our team at Come Visit Indonesia is here to provide expert assistance, ensuring a smooth process and avoiding any potential hurdles.

Let Come Visit Indonesia be your reliable partner for a seamless visa application experience. Start planning your Indonesian adventure today. Contact us for personalized guidance and support on your Indonesia relocation journey!