KBLI 2020 · 5-digit class

66173Penasihat Berjangka

Futures Advisor

Last updated · Sourced from OSS Indonesia

This group includes consulting activities (advisors) in futures trading, which involves providing advice to others regarding the buying and selling of commodities based on futures contracts, sharia derivative contracts, and/or other derivative contracts for a fee, including for parties acting as representatives of futures advisors.

For foreign investors

Key facts for KBLI 66173

The essentials a foreign investor needs to know before reading the rest of this page.

  • 100% foreign ownership permitted via PT PMA. KBLI 66173 is not on Indonesia's closed, conditional, SME-reserved or partnership-required schedules under Pres. Reg. 10/2021.

  • Default minimum paid-up capital: IDR 2.5 billion (~USD 160K) under BKPM Reg. 5/2025 (effective Oct 2025) — applies unless a sector regulator sets a higher figure for this activity. The often-cited IDR 10 billion is the total investment commitment per KBLI realised over time via quarterly LKPM reports, not required upfront.

  • High-risk activity — requires NIB + full Operating License (Izin) to operate commercially. NIB alone enables only the preparation stage; an Operating License must be obtained before invoicing or production starts.

  • Statutory licensing turnaround: 2 days once we submit the application — on top of the 2–3 weeks for PT PMA incorporation. We coordinate the full sequence end-to-end.

  • Issuing authority for PMA: Minister/Head of Agency — this KBLI is routed centrally rather than to provincial / regency level.

  • OJK authorization required: in addition to OSS NIB. Capital requirements set by OJK are typically much higher than the standard PT PMA minimum.

  • Ongoing reporting: quarterly LKPM (Investment Activity Report) to BKPM. We file these on your behalf as part of monthly compliance — you stay out of the OSS portal entirely.

At a glance
For Large-scale (PMA) operation
Foreign investment
100% foreign ownership allowed
No restrictions under Indonesia's BUPM regulation
Risk level
High
NIB + full Operating License
Primary license
NIB + full Operating License (Izin)
NIB enables preparation only — additional permit needed to operate
Setup timeline
2 Days
Statutory turnaround at OSS
Issuing authority
Minister / Agency Head
Default issuing authority
Min. paid-up capital
IDR 2.5 B
BKPM default paid-up — sector rules may set a higher figure
Figures shown are for the Large business scale (Usaha Besar) — the scale at which foreign-owned PT PMA must register. Setup time and license type are what Emerhub will handle on your behalf; the regulatory matrix below is for transparency.
§ 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 66173 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.
§ 02

How we handle your KBLI 66173 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. 1

    Confirm the optimal structure for your business

    2–3 business days

    We confirm KBLI 66173 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. 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.

    What we need from you
    • Powers of attorney (we prepare; you sign and notarize)
    • Director / commissioner appointment letters
    • Initial capital deposit confirmation
  3. 3

    We obtain your NIB

    1–2 business days

    We file the OSS application with KBLI 66173 as your primary business activity, complete the risk-based assessment, and collect the NIB (Business Identification Number) for you — typically within hours of submission. You don't need to touch the OSS portal.

    What we need from you
    • Office address (virtual office acceptable for many KBLIs; we can arrange one)
  4. 4

    Secure your full Operating License (Izin)

    2+ business days

    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. We prepare the application bundle, liaise with the competent ministry, and chase issuance through to the certificate. Statutory turnaround: 2 business days — real-world timing typically runs longer when site inspections or additional clarifications are requested.

    What we need from you
    • Technical documentation specific to your operation
    • Appointment of a Penanggung Jawab Teknis (PJT — technical responsible person)
  5. 5

    Hand-off to ongoing compliance

    Ongoing

    Post-launch we run your monthly tax filings, quarterly LKPM (Investment Activity Reports), annual general meeting (RUPS), and any sector-specific reporting. You get a single point of contact and a monthly compliance digest — no Indonesian-language paperwork on your desk.

Get an exact quote and timeline for KBLI 66173, scoped to your specific business plan.
Request a quote
§ 03

What is KBLI 66173?

A plain-English explanation of this classification and the businesses it covers.

KBLI 66173 (Futures Advisor) is the 5-digit Indonesian Standard Industrial Classification code for penasihat berjangka. It sits within Financial and Insurance Activities under the subgroup Activities Supporting Commodity Futures Trading (major group 66) in the official KBLI 2020 taxonomy maintained by Statistics Indonesia (BPS).

This group includes consulting activities (advisors) in futures trading, which involves providing advice to others regarding the buying and selling of commodities based on futures contracts, sharia derivative contracts, and/or other derivative contracts for a fee, including for parties acting as representatives of futures advisors.

Who needs KBLI 66173?

Any Indonesian or foreign-owned entity that intends to operate in penasihat berjangka 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.

§ 04

Auxiliary financial services-specific guidance

Sector context that applies to KBLI 66173 beyond the generic OSS process. Verify with the relevant ministry before committing capital.

Lead regulator
Financial Services Authority (OJK)
  • ·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.
§ 05

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.

Reorganised in KBLI 2025

KBLI 66173 does not carry the same number forward into KBLI 2025 — the activity has been reclassified, but the precise mapping isn't recorded in our database yet.

  • ·For current operations, KBLI 66173 remains valid — OSS still uses KBLI 2020 for all business registrations.
  • ·The KBLI 2025 successor codes are listed in the official BPS transition document below; check for the activity-specific mapping when planning future structures.
  • ·Once OSS announces the KBLI 2025 cutover, existing entities will need to update their primary KBLI to the relevant successor — typically straightforward.

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 specialist
§ 02

Risk level by business scale

Indonesia's OSS Risk-Based Approach assigns a separate risk level for each of the four business scales. The licensing instruments required (NIB, Standard Certificate, Operating License) are determined by the risk level. Foreign-owned entities (PT PMA) must register at the Large scale, so the rightmost column applies to most foreign investors.

01

Micro

Usaha Mikro
≤ IDR 2 B turnover
High risk
NIB + full Operating License (Izin) before invoicing.
02

Small

Usaha Kecil
IDR 2 – 15 B
High risk
NIB + full Operating License (Izin) before invoicing.
03

Medium

Usaha Menengah
IDR 15 – 50 B
High risk
NIB + full Operating License (Izin) before invoicing.
04

Large

PMA scale
Usaha Besar
IDR > 50 B
High risk
NIB + full Operating License (Izin) before invoicing.
What does each risk level require to operate? ›
Low. NIB alone is sufficient for both preparation and commercial operation. Issued instantly via OSS.
Medium-Low. NIB enables preparation only. Commercial operation requires a self-declared Sertifikat Standar (Standard Certificate). Operating with NIB alone is not legally compliant.
Medium-High. NIB enables preparation only. Commercial operation requires a Sertifikat Standar verified by the competent ministry — typically with a site or document inspection.
High. NIB enables preparation only. Commercial operation requires a full Operating License (Izin) issued by the competent ministry after substantive review.
Beyond OSS, sector-specific permits commonly apply on top — e.g. SBU for construction, BPOM for food/cosmetics/medicines, OJK for financial services, IUP for mining, PSE for digital services. See the industry-specific guidance below for what applies to this KBLI.
§ 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).

Sub-activity scopes · 2
Sub-activity scope

Futures advisor representative

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
2Days
Statutory turnaround

Application requirements

12

Documents and capabilities you must demonstrate at registration

  • 01Form I.PSB.10 (Application for License as a Futures Advisor Representative)
  • 02daftar riwayat hidup
  • 03$45
  • 04Guarantee of sufficient funding, evidenced by: - Documents guaranteeing sufficient funding, evidenced by financial statements for the last 3 (three) years that have been audited by a registered public accountant in accordance with the legislation for businesses that have been established for more than 3 (three) years; - Documents of agreements with other parties stating the guarantee of sufficient funding issued by other parties whose value is in accordance with the business plan in the feasibility analysis; or - A letter of statement from a general bank located in Indonesia, stating that the business has the funding capability to carry out its activities with an amount in accordance with the business plan in the feasibility analysis.
  • 05$47
  • 06Guarantee of sufficient funding, evidenced by: - Documents guaranteeing sufficient funding, evidenced by financial statements for the last 3 (three) years that have been audited by a registered public accountant in accordance with the legislation for businesses that have been established for more than 3 (three) years; - Documents of agreements with other parties stating the guarantee of sufficient funding issued by other parties whose value is in accordance with the business plan in the feasibility analysis; or - A letter of statement from a general bank located in Indonesia, stating that the business has the funding capability to carry out its activities with an amount in accordance with the business plan in the feasibility analysis.
  • 07$49
  • 08Guarantee of sufficient funding, evidenced by: - Documents guaranteeing sufficient funding, evidenced by financial statements for the last 3 (three) years that have been audited by a registered public accountant in accordance with the legislation for businesses that have been established for more than 3 (three) years; - Documents of agreements with other parties stating the guarantee of sufficient funding issued by other parties whose value is in accordance with the business plan in the feasibility analysis; or - A letter of statement from a general bank located in Indonesia, stating that the business has the funding capability to carry out its activities with an amount in accordance with the business plan in the feasibility analysis.
  • 09$4b
  • 10Guarantee of sufficient funding, evidenced by: - Documents guaranteeing sufficient funding, evidenced by financial statements for the last 3 (three) years that have been audited by a registered public accountant in accordance with the legislation for businesses that have been established for more than 3 (three) years; - Documents of agreements with other parties stating the guarantee of sufficient funding issued by other parties whose value is in accordance with the business plan in the feasibility analysis; or - A letter of statement from a general bank located in Indonesia, stating that the business has the funding capability to carry out its activities with an amount in accordance with the business plan in the feasibility analysis.
  • 11A statement signed by the prospective WPSB contains the following information (Form. Statement) (attachment to Bappebti Regulation number 6 of 2020): a. has never committed a crime in the economic or financial sector b. has never been blacklisted by the banking sector c. has never been convicted of a crime with a legal penalty of more than 5 (five) years
  • 124 (Empat) lembar pas foto berwarna terbaru ukuran 4x6

Ongoing obligations

1

Compliance and reporting duties throughout operation

  • 01Sesuai ketentuan Kementerian/Lembaga

Issuing authority

The authority that issues the license depends on your situation.

AuthorityApplies when
Minister/Head of AgencyAll
Minister/Head of AgencyForeign Investment
Emerhub advisor
Speak to Emerhub

Get your KBLI 66173 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 66173