66144Intermediary for Securities Traders for Debt Securities and Sukuk (PPE-EBUS)
Securities Broker-Dealers for Debt Securities and Sukuk (PPE-EBUS)
This group includes activities of parties that have been registered with the Financial Services Authority (OJK) to conduct buying and selling activities of debt securities and sukuk for their own interests and/or their clients.
Key facts for KBLI 66144
The essentials a foreign investor needs to know before reading the rest of this page.
Reserved for small Indonesian operators — no foreign ownership KBLI 66144 is set up for warungs, smallholders, individual practitioners and similar small businesses; the licensing rules don't cover larger operations. Foreign-owned companies have to register at the Large business size, so this code isn't available to them. Pick a related KBLI that covers larger operations, or partner with an Indonesian operator who already holds the licence.
OJK authorization required: in addition to OSS NIB. Capital requirements set by OJK are typically much higher than the standard PT PMA minimum.
- Direct PMA path
- Not availableSee below for alternatives
- Recommended structure
- Alternative KBLIMove to a related open code
- Next step
- Book a callTailored structure for your plan
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 66144 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.
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) carve-outs
Several restricted codes — notably healthcare, education, and certain manufacturing — have higher or full PMA caps inside designated KEK zones (e.g. Sanur Health KEK, Lido KEK). We assess whether your operation can benefit and walk you through the KEK admission process.
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 KBLIs sit in the same subgroup and are open to PT PMA. They may achieve a similar business goal through a different value-chain step.
What is KBLI 66144?
A plain-English explanation of this classification and the businesses it covers.
KBLI 66144 (Securities Broker-Dealers for Debt Securities and Sukuk (PPE-EBUS)) is the 5-digit Indonesian Standard Industrial Classification code for intermediary for securities traders for debt securities and sukuk (ppe-ebus). It sits within Financial and Insurance Activities under the subgroup Securities Companies Other Than Investment Management in the official KBLI 2020 taxonomy maintained by Statistics Indonesia (BPS).
Who needs KBLI 66144?
Any Indonesian or foreign-owned entity that intends to operate in intermediary for securities traders for debt securities and sukuk (ppe-ebus) as a primary or secondary business activity must select this code on its NIB (Business Identification Number). The selected code determines the licensing instruments required, the issuing authority, and the ongoing compliance obligations.
Why does the code matter?
Indonesia's OSS Risk-Based Approach uses the KBLI code to determine three things: (1) whether foreign investment is permitted and at what cap, (2) the risk-based licensing instruments required, and (3) the authority that issues each instrument. Choosing the wrong code can delay or invalidate your license.
Auxiliary financial services-specific guidance
Sector context that applies to KBLI 66144 beyond the generic OSS process. Verify with the relevant ministry before committing capital.
- ·Payment systems (PJSP) require OJK and Bank Indonesia approval.
- ·Money changers are limited to 100% Indonesian capital.
- ·Most fintech activities require additional OJK or BI sandbox registration.
Under the upcoming KBLI 2025
Indonesia's BPS published the new KBLI 2025 taxonomy in early 2025. OSS, BKPM and the operating ministries have not yet adopted it — KBLI 2020 remains the active standard for business registration. This is what's coming for this specific code.
Carried forward into KBLI 2025
KBLI 66144 retains the same code number and scope in the new taxonomy. The activity description, hierarchy, and intended use of the code are preserved.
- ·Continue using 66144 for current registrations under KBLI 2020.
- ·When OSS adopts KBLI 2025 (timing not yet announced), no migration is required for this code.
- ·Risk level, permits, and authority routing shown above remain in effect under both taxonomies.
When OSS adopts KBLI 2025, we'll migrate your existing entity to the appropriate successor code as part of ongoing compliance — no action needed on your end now.
Talk to a specialistKBLI 66144 needs a tailored structure. Book a call.
Restricted KBLIs require a structure designed around the restriction — partnership, alternative code, KEK, or commercial arrangement. We've handled all of these. One conversation will tell you what works for your specific plan.
Discuss your structure