Foreign Investor FeasibilityKBLI 64191
§ 01
Foreign investment rules
Indonesia's BUPM (Investment Business Fields) regulation places this code into one of five tracks. The track determines whether a foreign investor (PMA) can operate in this activity at all, and under what conditions.
Status · open
Open under BUPM (subject to sector rules)
KBLI 64191 is not on Indonesia's closed, conditional, SME-reserved, or partnership-required schedules under BUPM (Pres. Reg. 10/2021). A foreign investor can incorporate a PT PMA under this code, but sector regulators (PSE/Kominfo, BPOM, OJK, Kemenkes, Permendag, ESDM) almost always add licensing and capital requirements on top — the practical answer depends on your specific business model.
This KBLI is open under BUPM (Pres. Reg. 10/2021) — it's not on any restricted, closed, SME-reserved, or partnership-required schedule. That's the BUPM verdict only, not a complete sector-readiness check: sector regulators almost always add requirements on top (PSE/Kominfo for digital platforms, BPOM for food and cosmetics, OJK for financial, Kemenkes for healthcare, Permendag for retail, ESDM for energy). BKPM's default capital floor is IDR 2.5 billion paid-up with IDR 10 billion+ total investment commitment per KBLI, but sector regulators frequently set higher minimums for specific activities. The practical answer depends on your business model — confirm with our team before committing capital.
Sector capital requirement
Higher minimum capital required by OJK
Other monetary intermediation (BPR / BPRS)
Required paid-up
IDR 50-100 billion depending on zone
Regulation
POJK 26/2024 (Bank Perekonomian Rakyat)
BKPM Reg. 5/2025's default is IDR 2.5 billion paid-up + IDR 10 billion commitment per KBLI. The figure above is the binding override for this activity — the higher number wins.
Investment momentum
Financial services sector — Q3 2025
BKPM-reported foreign investment context for the broader sector this KBLI sits in. Data is aggregated at the major-sector level — BKPM does not publish per-5-digit-KBLI breakdowns publicly.
PMA realized
IDR 11.2t≈ USD 0.70b
+7.8% YoY
Top investing countries
Singapore32%
Japan22%
Malaysia16%
Reported separately from financial services figures in the headline BKPM realisation total. OJK approval is the binding gate. Multi-finance (consumer + commercial) attracted more inbound FDI than banking in 2025.
§ 02
Activities included under KBLI 64191
Sub-activities recorded under this KBLI in the OSS regulatory database. The classification covers any business operating in one or more of these areas.
Sub-activities under KBLI 64191
From the official OSS scope definition for this KBLI class. Each item is a distinct sub-activity that falls under this code.
- 01Primary Savings and Loan Office Service Network
- 02Primary Cooperative Business
- 03
§ 03
How we handle your KBLI 64191 setup
Emerhub is a corporate-services provider in Indonesia. We do the legal and regulatory legwork for foreign investors so you can focus on the business itself. Here's what the engagement looks like.
- 1
Confirm the optimal structure for your business
2–3 business daysWe confirm KBLI 64191 is the right primary code for your business, advise on secondary codes you may also need, and finalize the holding structure with you before any filing.
What we need from you- Founders' passport copies and proof of residence
- Intended share split and board composition
- 2
Incorporate your PT PMA
7–10 business daysWe draft the Articles of Association before a notary, register the entity with the Ministry of Law & Human Rights (Kemenkumham), and obtain the company's tax ID (NPWP). Under BKPM Reg. 5/2025, paid-up capital is IDR 2.5 billion (~USD 160K) — the cash actually deposited at incorporation. The IDR 10 billion+ figure many sources still cite is the total investment commitment per KBLI, realised over time via your LKPM reports.
Get an exact quote and timeline for KBLI 64191, scoped to your specific business plan.
Request a quote§ 06
Licensing requirements in detail
Specific permits, application requirements and ongoing obligations vary by business scale and the sub-activity within this KBLI. We file these on your behalf — this section is for transparency on what we'll be handling. Switch between scales below; by default we show Large (the PMA scale).
Sub-activity scopes · 4
Sub-activity scope
Primary Savings and Loan Office Service Network
What's required to operate
NIB
Preparation only — additional permit needed below
Operating License (Izin)
Important: NIB is issued for the preparation stage. Commercial operation requires a full Operating License (Izin) issued by the competent ministry after a substantive review of the operator's capability, facility, and compliance. Operating with NIB alone exposes the entity to penalties, blacklisting, and contract invalidation.
Processing time
3Days
Statutory turnaround
Application requirements
15Documents and capabilities you must demonstrate at registration
- 01Have a license for primary savings and loan cooperative business.
- 02Annual financial report of the cooperative
- 03Audit results from a public accountant with a fair opinion.
- 04The health examination results indicate that the individual is healthy.
- 05Cooperative Articles of Association
- 06Resume of management and supervisory personnel
- 07Having regulations on the principles of recognizing service users.
- 08Proof of receipt of the annual tax notification letter
- 09Minimum number of members in the area where the service network will be established.
- 10Minimum working capital amount
- 11Service network work plan
- 12Proof of ownership and/or office lease, cooperative signboard, and work facilities
- 13List of names and resumes of prospective leaders and list of names of prospective employees
- 14Competency certificate for prospective service network heads and
- 15Statement of integrity from the prospective head of the service network
Ongoing obligations
5Compliance and reporting duties throughout operation
- 01Prepare and implement Management Operational Standards (SOM)
- 02Implement the provisions for the operation of savings and loan businesses in accordance with the regulations and the application of the principle of prudence.
- 03Submit financial reports and business activities to the government.
- 04Consolidating the business activities of cash office service networks.
- 05In carrying out the activities of a Financial Services Cooperative (KJK), it is mandatory to have an operational license issued by the financial authority.
Issuing authority
The authority that issues the license depends on your situation.
| Authority | Applies when |
|---|---|
| Regent/Mayor | District/City membership area |
| Minister/Head of Agency | Cross-province membership area |
| Minister/Head of Agency | Foreign Investment |
| Governor | Cross-district/city membership area |
Speak to Emerhub
Get your KBLI 64191 setup handled end-to-end.
Emerhub is a corporate-services provider in Indonesia. We handle PT PMA incorporation, licensing, tax registration and monthly compliance — so you focus on operating the business.