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.
Reserved for small Indonesian operators
KBLI 64995 is set up for warungs, smallholders, individual practitioners and similar small businesses — Indonesia's licensing rules only define micro and small business sizes for it. Foreign-owned companies have to register at the Large business size, so even though this code isn't on the official "closed" list, foreign ownership isn't possible in practice. Pick a related KBLI that covers larger operations, or set up a partnership with an Indonesian operator who already holds the licence.
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.
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.
Financial services-specific guidance
Sector context that applies to KBLI 64995 beyond the generic OSS process. Verify with the relevant ministry before committing capital.
- ·Banking, multi-finance, and securities activities require OJK authorization in addition to OSS NIB.
- ·Foreign equity caps vary by sub-sector: 99% for commercial banks (subject to OJK approval), 85% for multi-finance, 99% for securities.
- ·Capital requirements for banks/finance companies are set by OJK and are substantially higher than the standard PT PMA minimum.
What this means for foreign investors
An honest read of the situation, plus the structures that work in practice. We've handled all of these — book a call to walk through your specific plan.
Move to a different value-chain step
The cleanest path: operate a related but open KBLI. For example, foreign investors blocked from primary commodity production frequently succeed with the processing, distribution, branding, or export-trade codes upstream or downstream of the restricted activity.
Special Economic Zone (KEK) or Free Trade Zone (Batam)
Several restricted codes have higher or full PMA caps inside designated KEK zones (Sanur Health, Lido, Mandalika) or the Batam Free Trade Zone — manufacturing, logistics, and IT services especially. The IUK regime under BP Batam relaxes ownership rules selectively in exchange for export orientation. We assess whether your operation can benefit. See the for the requirements.
Indonesian-owned operating company + commercial agreement
A 100% Indonesian-owned operating entity can hold the restricted licence while you contract with it commercially. We structure these arrangements deliberately — without nominee shareholding, which is unenforceable and increasingly scrutinised.
These siblings are usable by a foreign-owned PT PMA — they have a Large-scale licensing matrix and aren't on a restricted list. Each has its own context badge so you can pick by trade-off.
IDX Carbon market activity
How active is Indonesia's carbon market right now? IDX Carbon publishes monthly aggregate trading data — the headline numbers below are pulled from the April 2026 report. Useful for sizing the opportunity before committing to a 9–14 month carbon-broker licensing path.
