Country：印尼 · Banking & Capital
Indonesia · Banking & Capital
Indonesia tightens account opening for foreign companies; paid-in capital must first be deposited into a local bank escrow and proof obtained (mandatory pre-registration step). Major banks BCA, Mandiri, BNI offer multi-currency corporate accounts, but AML and beneficial-owner scrutiny is strict. FX can be freely remitted, but capital & profit remittance need compliant documents; Bank Indonesia (BI) requires cross-border statistics filing.
Key points
- Paid-in capital must be deposited into Indonesian local bank escrow and proof obtained (mandatory registration pre-condition).
- Major banks: BCA, Mandiri, BNI (with Chinese/international desks); foreign-bank branches limited.
- Multi-currency accounts available but IDR dominant; large cross-border remittance must be reported to BI.
- AML strict: beneficial owner (UBO), fund source and business-substance documents required.
- Profit & dividend remittance with tax-clearance (SKP) and NIB is relatively free but must comply.
Procedure
- Complete company registration, obtain NIB and NPWP.
- Prepare shareholder passport, articles, director ID, business plan and UBO declaration.
- Apply corporate multi-currency account at chosen local bank.
- Deposit paid-in capital and obtain proof (for BKPM verification).
- Subsequent cross-border payments via bank, with BI statistics filing.
Hard requirements
- NIB & NPWP; UBO declaration; business-substance documents; minimum deposit (by bank).
Costs
Account management fee by bank; paid-in capital from IDR 2.5bn.⏱ ⏱ Timeline：Account opening ~2–4 weeks (AML review by documents).⚠ Common risks
- Shell company or lack of substance → bank rejection.
- 12-month capital lock overlaps account-compliance (BKPM 5/2025).
- False FX declaration → OJK/BI penalty.
Handbook
📘 Step-by-Step Handbook (with owner / timeline / cost / penalties)
Applies to：PT PMA opening corporate multi-currency account at Indonesian local bank, depositing paid-in capital and handling cross-border payments.
Prerequisites
- Company registered, NIB & NPWP obtained.
- Registered address and director/authorised signatory determined.
- Paid-in capital (IDR 2.5bn per KBLI) deposit plan arranged.
- Business-substance documents prepared (contracts, business plan, expected flows).
| Step | Action | Owner | Timeline | Cost | Official form / system | Notes & penalties |
|---|---|---|---|---|---|---|
| 1 | Complete registration, obtain NIB & NPWP Pre-condition: company has OSS NIB, DJP NPWP and Coretax registration. | Company / DJP / BKPM | With setup | None | NIB / NPWP | Penalty：Without these, bank won't open account |
| 2 | Prepare KYC & UBO materials Prepare shareholder passport, articles, director ID, business plan, UBO declaration & fund-source explanation; foreign docs usually need Hague apostille & Indonesian sworn translation. | Company / Bank compliance | 1 week | Translation/notary (if applicable) | KYC questionnaire + UBO declaration | Penalty：Incomplete or false UBO → rejection or AML investigation |
| 3 | Choose local bank, apply corporate multi-currency account BCA, Mandiri, BNI offer multi-currency; OJK KYC usually requires director in-person sign (few international banks allow video, confirm in writing). | BCA / Mandiri / BNI etc. | 2–4 weeks (AML by documents) | Management fee by bank; initial deposit IDR 1m–10m | Corporate account opening form | Penalty：Shell or no substance → rejection |
| 4 | Deposit paid-in capital & obtain proof (escrow) Deposit paid-in capital into Indonesian local account, obtain proof for BKPM verification; funds retained ≥12 months (business use only). | Bank / Company | Proof on deposit | Paid-in capital IDR 2.5bn per KBLI | Bank deposit proof (bukti setor) | Penalty：Insufficient paid-in or missing proof → BKPM verification fails |
| 5 | Activate account & set authorised signatory / e-banking Board resolution for authorised signatory, company seal filing, e-banking activation; ensure cross-border payment authority clear. | Bank / Company | Days | Optional e-banking/token fee | Authorised-signatory resolution + seal | Penalty：Unclear authority → payment blocked |
| 6 | Cross-border payment & BI statistics filing All outward remittance (dividend, management fee, loan repayment) needs underlying docs (contract/board resolution), processed by bank under BI framework; keep full records. | Bank / BI | Per transaction | FX / handling fee | BI FX declaration (underlying proof) | Penalty：False declaration → OJK/BI penalty; suspicious transaction reported to PPATK within 3 working days |
| 7 | Profit/dividend remittance (tax clearance first) Before remittance, complete tax clearance (PPh 26; treaty benefit needs CoD), remit via bank with NIB, audited financials & board resolution. | Bank / DJP / BI | Prep 1–2 weeks | PPh 26 withholding + handling | SKB PPh 26 / remittance voucher | Penalty：No PPh 26 prepayment → 20% non-resident withholding; incomplete docs → returned |
✅ Self-check list
⚠ Common pitfalls
Shell / no substance → bank rejection影响：Cannot pay/receive, business paralysed规避：Prepare substance docs (contracts, plan, expected flows) early; pick SME-friendly, China-experienced bank
12-month capital lock + account compliance overlap影响：BKPM 5/2025 restricts transfer, plus bank min-balance → liquidity strain规避：Plan working capital separately, don't rely on locked paid-in for周转
False FX declaration → OJK/BI penalty影响：Admin fine, returned tx, enhanced due diligence规避：Every cross-border payment with underlying proof, clear payment description, no vague wording
Profit remittance without PPh 26影响：20% non-resident withholding, less to shareholders, retroactive规避：Complete tax clearance, obtain SKB PPh 26 / CoD before remittance
Untrue UBO traceability → AML影响：Suspicious-transaction report, account freeze规避：Disclose beneficial owner truthfully; nominee/complex structures need reasonable explanation & docs
Director no in-person sign → blocked影响：OJK KYC delays opening规避：Plan director trip to Indonesia for sign, or confirm bank's video-KYC policy in writing
📅 Ongoing post-incorporation obligations
- Keep account active, meet bank minimum-balance.
- Periodically file BI cross-border statistics (every outward/inward payment).
- Disclose capital cross-border moves & profit remittance truthfully in LKPM.
- UBO or signatory change → update bank records promptly.
- Annual audit & bank reconciliation, cooperate with OJK/PPATK queries.
🔗 Official portals
📎 Source：https://www.bi.go.id ; https://www.ojk.go.id
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