KBLI 66121 (Bursa Berjangka) is the 5-digit Indonesian Standard Industrial Classification code for futures exchange. It sits within the Financial and Insurance Activities category in the official KBLI 2020 taxonomy maintained by Badan Pusat Statistik (BPS).

Can foreign investors operate under KBLI 66121?

Yes — KBLI 66121 is open to foreign investment, but the licensing path runs entirely through OJK under POJK 22/2023, not OSS RBA. BKPM Reg. 5/2025's IDR 2.5 billion default does NOT apply to this code; the binding capital floor is set by OJK and is materially higher (see the capital question below).

What is the risk level of KBLI 66121?

KBLI 66121's risk levels per business scale: Micro High, Small High, Medium High, Large High. Foreign-owned entities (PT PMA) must register at the Large scale.

What licenses does KBLI 66121 require?

NIB + Operating Licence (Izin). KBLI 66121 is High risk at Large scale, so the Operating Licence requires substantive sector-regulator approval before the business can operate. Expect a multi-month review with technical submissions.

What is the minimum capital for a PT PMA under KBLI 66121?

Sector regulator override: IDR 50-100 billion depending on licence type required by OJK under POJK 22/2023 (Perusahaan Efek). This is higher than BKPM Reg. 5/2025's default IDR 2.5 billion paid-up; the higher number wins.

How long does it take to register a business under KBLI 66121?

PT PMA setup typically takes 4-8 weeks: AHU registration (1-2 weeks), NIB issuance via OSS (immediate to 1 week), bank account opening (2-4 weeks). The licensing cycle for KBLI 66121 specifically takes 3 days at the Large business scale.

Is KBLI 66121 eligible for Indonesian tax incentives?

Not on the Tax Holiday or Tax Allowance priority lists. KBLI 66121 businesses pay the standard 22% PPh Badan; Super Tax Deduction (300% R&D / 200% vocational training) may still apply for qualifying expenses.

Which authority issues the KBLI 66121 license?

Authority depends on the investor profile. For PMA: Minister/Head of Agency. For domestic SME scale: typically Governor (for Provincial scope) or Regent/Mayor (Regency/City scope). Specific mapping is in §1 of this page.

What other permits beyond the NIB does KBLI 66121 need?

Beyond the NIB, no specific auxiliary permits (PB UMKU) are recorded for KBLI 66121. Sector-specific obligations may still apply — verify with the relevant ministry.

What KBLI codes are similar to 66121?

KBLIs in the same subgroup 6612: 66122 (Clearing and Guarantee Institution for Futures); 66123 (Commodity Futures Exchange with Physical Market Operations); 66124 (Clearing and Guarantee Institution for Futures Organizing Physical Markets); 66127 (Carbon Unit Brokerage). These are closely related activities — see the related-codes section below for full list.

KBLI 66121: Futures Exchange

At a glance

3 requirements · click to jump

What you’ll need to operate under KBLI 66121

Set up the PT PMA
IDR 50-100 billion depending on licence type paid-up (POJK 22/2023)
Details
Get OSS licensing
NIB + Operating Licence (Izin) — Large-scale, High risk
Details
Sector regulator approval
Licensing runs through OJK, not OSS. Plan separate review timelines.
Details

§ 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

Fully open to foreign investment

KBLI 66121 is not on Indonesia's closed, conditional, SME-reserved or partnership-required schedules. A foreign investor may incorporate a PT PMA with up to 100% foreign ownership and operate in this activity directly.

This KBLI is not listed in any restricted, closed, SME-reserved or partnership-required schedule under Pres. Reg. 10/2021 (as amended). A 100% foreign-owned PT PMA may operate in this activity, subject to the licensing requirements shown below. BKPM's default minimum capital is IDR 2.5 billion paid-up with IDR 10 billion+ total investment commitment per KBLI realised over time, but sector regulators (OJK, ESDM, BPOM, Kominfo, etc.) can set higher minimums for specific activities — we confirm the actual figure before incorporation.

Sector capital requirement

Higher minimum capital required by OJK

Securities broker-dealer / underwriter

Required paid-up

IDR 50-100 billion depending on licence type

Regulation

POJK 22/2023 (Perusahaan Efek)

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.

§ 02

How we handle your KBLI 66121 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 days
We confirm KBLI 66121 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 days
We 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 66121, scoped to your specific business plan.

Request a quote

§ 05

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).

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

Documents and capabilities you must demonstrate at registration

01Letter of Application for Futures Exchange Business License (according to Form Number II.BB.1 Attachment to the Head of Bappebti Decision Number 01/Bappebti/KP/X/1999).
02List of Application Requirements for Approval of Futures Exchange Business License (according to Form Number II.BB.2 Attachment to the Head of Bappebti Decision Number 01/Bappebti/KP/X/1999);
03Copy of the Deed of Establishment and its amendments that have been ratified by the Ministry of Law and Human Rights;
04List of Futures Exchange Founders;
05Company Profile of the Founders of the Futures Exchange must include the Deed of Establishment of the Company and its amendments that have been ratified by the Ministry of Law and Human Rights, a copy of the ID card/Passport of each member of the Board of Commissioners and Directors, and a copy of the Company's Tax Identification Number (NPWP), as well as the NPWP of each member of the Board of Commissioners and Directors (in accordance with Form I.BB.1 Attachment to the Head of Bappebti Decision Number 01/Bappebti/KP/IV/1999);
06Tax Identification Number (NPWP) for Limited Liability Company;
07Economic considerations underlying the establishment of the Futures Exchange, including a description of the market conditions to be created;
08Business plan for 3 (three) years including organizational structure, work procedures, inspection units, communication facilities, and training programs to be held;
09Financial projections for 3 (three) years;
10The initial balance sheet of the limited liability company audited by a Public Accountant with a paid-up capital of the Futures Exchange of at least IDR 100,000,000,000.00 (one hundred billion rupiah);
11List of management (prospective commissioners and directors), Shareholders/controllers, with CV profiles and SKCK/SKKB (accompanied by applications and supporting documents for the assessment of the suitability and feasibility of prospective commissioners and directors, as well as other completeness in accordance with the Regulation of the Head of Bappebti Number 92/Bappebti/Per/03/2012);
12Draft of Futures Contracts, Sharia Derivative Contracts, other Derivative Contracts, and/or physical Commodity trading;
13Written statement of readiness for the hardware and software of the Futures Exchange;
14Copy of the establishment deed of the Futures Clearing Institution that will be used if the Futures Clearing Institution is part of the Futures Exchange;
15Minutes of Physical Inspection from Bappebti stating that the physical Facilities and Infrastructure, exchange system, and transactions owned are in accordance with applicable regulations.
16Draft Regulations and Rules of the Futures Exchange
17Cooperation agreement between the Futures Exchange and the Futures Clearing Institution that will be used.
18Draft of the Articles of Association for the Futures Exchange

Ongoing obligations

Compliance and reporting duties throughout operation

01In accordance with the provisions of the Ministry/Agency

Issuing authority

The authority that issues the license depends on your situation.

Authority	Applies when
Minister/Head of Agency	All
Minister/Head of Agency	Foreign Investment

Speak to Emerhub

Get your KBLI 66121 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.

Get a quote for KBLI 66121

Authority

Applies when

Minister/Head of Agency

All

Minister/Head of Agency

Foreign Investment

What you’ll need to operate under KBLI 66121

Foreign investment rules

Fully open to foreign investment

Higher minimum capital required by OJK

How we handle your KBLI 66121 setup

Confirm the optimal structure for your business

Incorporate your PT PMA

Licensing requirements in detail

Application requirements

Ongoing obligations

Issuing authority

Related codes in Commodity Futures Trading Infrastructure Providers

Get your KBLI 66121 setup handled end-to-end.

Quick Links

Resources

Yes — open to PMA up to 100%.

What's specific to this sector

KBLI 66121 at a glance

What you’ll need to operate under KBLI 66121

Foreign investment rules

Fully open to foreign investment

Higher minimum capital required by OJK

How we handle your KBLI 66121 setup

Confirm the optimal structure for your business

Incorporate your PT PMA

Licensing requirements in detail

Application requirements

Ongoing obligations

Issuing authority

Related codes in Commodity Futures Trading Infrastructure Providers

Get your KBLI 66121 setup handled end-to-end.

We obtain your NIB

Secure your full Operating License (Izin)

Hand-off to ongoing compliance

What is KBLI 66121?

Who needs KBLI 66121?

Why does the code matter?

Under the upcoming KBLI 2025

Carried forward into KBLI 2025

Risk level by business scale

Micro

Small

Medium

Large

Common questions about KBLI 66121

What is KBLI 66121?

Can foreign investors operate under KBLI 66121?

What is the risk level of KBLI 66121?

What licenses does KBLI 66121 require?

What is the minimum capital for a PT PMA under KBLI 66121?

How long does it take to register a business under KBLI 66121?

Is KBLI 66121 eligible for Indonesian tax incentives?

Which authority issues the KBLI 66121 license?

What other permits beyond the NIB does KBLI 66121 need?

What KBLI codes are similar to 66121?