KBLI 68125 is not on the closed, conditional, SME-reserved, or partnership schedules of Pres. Reg. 10/2021. That clears the ownership layer — PT PMA is structurally available. Sector regulators may still add overlays (see layer 02 below).
OSS RBA classifies KBLI 68125 as Medium-Low — NIB + self-declared Standard Certificate at Large scale. No specific PB UMKU permits recorded against this code. Licensing instruments follow the standard ladder; no sector-regulator override is on file for this code.
OSS lists 9 operational obligations at Large scale for this code. None are structural foreign-investor barriers, but they determine ongoing compliance: Obtain Basic Requirements for business licensing, Fulfill all obligations in accordance with the scope of mixed development, and others.
Worth confirming: Openness here is based on BUPM (Pres. Reg. 10/2021). Sector regulators (PSE/Kominfo for digital platforms, BPOM for food and cosmetics, OJK for financial, Kemenkes for healthcare, Permendag for retail, ESDM for energy) often add licensing and capital requirements on top — the practical answer depends on your business model. Talk to our team
kbli2025VersionBanner.new2025Body 68111 (Real Estate Owned or Leased). Existing PT entities registered against the 2020 code remain valid; new filings use the 2025 code.
PENGELOLAAN PUSAT PERBELANJAAN
Last updated · Sourced from OSS Indonesia
activities of developing, purchasing, selling, renting and operating certain areas for trading goods or services, such as malls, plazas, rest areas and food centers.
Sector oversight by Ministry of Public Works; NIB is the only license needed and Emerhub files it for you.
Property development is open to 100% PMA, but foreign individuals cannot directly own freehold land — only HGB (Building Use Right) or Hak Pakai (Right of Use).
Real estate companies must comply with PT PMA capital rules and developer-licensing requirements.
Strata-title (apartment) ownership rules differ from landed property; verify current foreign-ownership thresholds.
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 68125 is not on Indonesia's closed, conditional, SME-reserved, or partnership-required schedules under BUPM (Pres. Reg. 10/2021). A foreign investor can incorporate a PT PMA under this code, but sector regulators (PSE/Kominfo, BPOM, OJK, Kemenkes, Permendag, ESDM) almost always add licensing and capital requirements on top — the practical answer depends on your specific business model.
Sub-activities recorded under this KBLI in the OSS regulatory database. The classification covers any business operating in one or more of these areas.
From the official OSS scope definition for this KBLI class. Each item is a distinct sub-activity that falls under this code.
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.
We confirm KBLI 68125 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.
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.
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).
Development other than letters a and b
Documents and capabilities you must demonstrate at registration
No specific application requirements at this scale.
Compliance and reporting duties throughout operation
The authority that issues the license depends on your situation.
| Authority | Applies when |
|---|---|
| Regent/Mayor | In one Regency/City |
| Minister/Head of Agency | Inter-Provincial |
| Minister/Head of Agency | Foreign Investment |
| Governor | Cross-County/City and Special Region of Jakarta |

We file the OSS application with KBLI 68125 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.
NIB is issued for the preparation stage. To begin commercial operations, the operator must self-declare compliance with applicable standards via OSS, which generates the Sertifikat Standar. Operating commercially with NIB alone is not legally compliant at this risk level. We prepare the application bundle, liaise with the competent ministry, and chase issuance through to the certificate. Statutory turnaround: set by ministry — real-world timing typically runs longer when site inspections or additional clarifications are requested.
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.
Class-level prerequisites that apply to every operator under this KBLI, independent of business scale. These commonly include minimum capital rules for PMA entities and spatial-planning (KKPR) conformance.
Based on BKPM Regulation Number 4 of 2021 in Article 12, the exception from the minimum investment value provision for PMA is that the total investment is greater than Rp. 10,000,000,000.00 (ten billion rupiah), excluding land and buildings per KBLI business field. 5 (five) digits per project location, including for: business activities for property development and exploitation with the following provisions:
Scope of Activities of Medium/Large Business-Scale Shopping Centers, based on Government Regulation Number 5 of 2021 concerning Implementation of Risk-Based Business Licensing in Appendix II of the Trade Sector, and Government Regulation Number 29 of 2021 concerning Implementation of the Trade Sector in Article 97, is required
A plain-English explanation of this classification and the businesses it covers.
KBLI 68125 (PENGELOLAAN PUSAT PERBELANJAAN) is the 5-digit Indonesian Standard Industrial Classification code for shopping center management. It sits within Real Estate Activities under the subgroup Non-Residential Real Estate Activities (buildings and Land) (major group 68) in the official KBLI 2025 taxonomy maintained by Statistics Indonesia (BPS).
Any Indonesian or foreign-owned entity that intends to operate in shopping center management 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 KBLI 2025 taxonomy in 2025 and OSS adopts it for new business registrations from 16 June 2026. KBLI 2020 codes already on file remain valid for the entities they were issued to; new filings select 2025 codes. This is what changes for this specific code.
KBLI 68125 did not exist in the previous (KBLI 2020) taxonomy. It was added in the 2025 release to capture an activity that was previously bundled with another code or had no dedicated classification.
For new filings from 16 June 2026, Emerhub selects the right KBLI 2025 code, handles the OSS submission, and migrates existing entities to a successor code only when the registered scope requires it.
Talk to a specialistIndonesia'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.
KBLI 68125 (PENGELOLAAN PUSAT PERBELANJAAN) is the 5-digit Indonesian Standard Industrial Classification code for shopping center management. It sits within the Real Estate Activities category in the official KBLI 2025 taxonomy maintained by Badan Pusat Statistik (BPS).
KBLI 68125 is open to PT PMA under BUPM (Pres. Reg. 10/2021) — it is not on the closed, conditional, SME-reserved, or partnership-required schedules. That is the BUPM verdict only: sector regulators (PSE/Kominfo for digital platforms, BPOM for food and cosmetics, OJK for financial, Kemenkes for healthcare, Permendag for retail, ESDM for energy) commonly add licensing and capital requirements on top depending on the specific business model. Confirm the practical setup with our team before committing capital.
KBLI 68125's risk levels per business scale: Micro Medium-Low, Small Medium-Low, Medium Medium-Low, Large Medium-Low. Foreign-owned entities (PT PMA) must register at the Large scale.
NIB + self-declared Standard Certificate (Sertifikat Standar). KBLI 68125 is Medium-Low risk at Large scale, so the investor declares compliance with the applicable technical standard at NIB issuance. No government pre-audit, but the declaration is binding and can trigger a post-audit. Plus 2 basic requirements (KKPR) at the class level.
BKPM Reg. 5/2025's default floor is IDR 2.5 billion paid-up capital at incorporation + IDR 10 billion+ total investment commitment per KBLI registered (realised over time and reported quarterly via LKPM). Sector regulators (OJK for financial, ESDM for energy, Kemenkes for healthcare, BPOM for food and cosmetics, Permendag for retail, Kominfo for digital platforms) often set higher minimums for specific activities. The binding figure depends on what you actually plan to operate, so confirm with our team before committing capital. See the investment status block for the BUPM verdict and ownership context.
PT PMA setup typically takes 4-8 weeks end-to-end: AHU registration, NIB via OSS, bank account opening. KBLI-specific licensing depends on the permit instrument required.
Not on the Tax Holiday or Tax Allowance priority lists. KBLI 68125 businesses pay the standard 22% PPh Badan; Super Tax Deduction (300% R&D / 200% vocational training) may still apply for qualifying expenses.
Authority depends on the investor profile. For PMA: Regent/Mayor. For domestic SME scale: typically Governor (for Provincial scope) or Regent/Mayor (Regency/City scope). See the licensing detail section for the full per-permit authority routing.
Beyond the NIB, no specific auxiliary permits (PB UMKU) are recorded for KBLI 68125. Sector-specific obligations may still apply — verify with the relevant ministry.
KBLIs in the same subgroup 6812: 68121 (Tourism Area Management); 68122 (Industrial Area Management); 68123 (Management of Special Economic Zones); 68124 (Rental of Places for Activity Organizations); 68126 (Warehouse Rental and Self-Storage Facilities). These are closely related activities — see the related-codes section below for full list.