Trustee
Last updated · Sourced from OSS Indonesia
This group includes business activities of parties entrusted to represent the interests of all holders of debt securities or sukuk.
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.
KBLI 66193 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.
Sector context that applies to KBLI 66193 beyond the generic OSS process. Verify with the relevant ministry before committing capital.
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.
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.
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.
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.
A plain-English explanation of this classification and the businesses it covers.
KBLI 66193 (Trustee) is the 5-digit Indonesian Standard Industrial Classification code for wali amanat (trustee). It sits within Financial and Insurance Activities under the subgroup Supporting Activities for Other Financial Services (major group 66) in the official KBLI 2020 taxonomy maintained by Statistics Indonesia (BPS).
Any Indonesian or foreign-owned entity that intends to operate in wali amanat (trustee) 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.
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.
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.
KBLI 66193 retains the same code number and scope in the new taxonomy. The activity description, hierarchy, and intended use of the code are preserved.
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 66193 (Trustee) is the 5-digit Indonesian Standard Industrial Classification code for wali amanat (trustee). It sits within the Financial and Insurance Activities category in the official KBLI 2020 taxonomy maintained by Badan Pusat Statistik (BPS).
Not in practice. KBLI 66193 is not on Pres. Reg. 10/2021's closed list, but OSS RBA only defines licensing rules at the Micro and Small business scales for this activity — there is no Large-scale matrix. Foreign-owned PT PMA must register at the Large scale, so this code isn't structurally available to foreign investors. PT lokal (100% Indonesian-owned) at the Micro / Small scale can operate freely.
KBLI 66193 has no Large-scale licensing matrix in OSS — it's structured for Micro and Small business scales only. PT PMA cannot register under this code as a result.
Not applicable to PT PMA — KBLI 66193 is not viable for foreign-owned entities, so neither BKPM Reg. 5/2025's paid-up minimum nor any sector-specific capital floor enters the picture. The structural barrier comes first.
Not applicable to PT PMA — KBLI 66193 is not viable for foreign-owned entities, so the 4-8 week PT PMA setup timeline doesn't apply. Move to a sibling code with a Large-scale matrix or a different structure.
Not on the Tax Holiday or Tax Allowance priority lists. KBLI 66193 businesses pay the standard 22% PPh Badan; Super Tax Deduction (300% R&D / 200% vocational training) may still apply for qualifying expenses.
Not applicable to PT PMA — KBLI 66193 is not viable for foreign-owned entities, so OSS doesn't designate a PMA issuing authority. Smaller-scale registrations (Micro / Small) for Indonesian operators are typically issued at the Regency / City level.
Beyond the NIB, no specific auxiliary permits (PB UMKU) are recorded for KBLI 66193. Sector-specific obligations may still apply — verify with the relevant ministry.
KBLIs in the same subgroup 6619: 66191 (Securities Administration Bureau); 66192 (Kustodian (Custodian)); 66194 (Securities Rating Company); 66195 (Shariah Capital Market Expert (ASPM)); 66199 (Other Supporting Activities in Financial Services). These are closely related activities — see the related-codes section below for full list.