Investment Guide

Foreign Ownership Limits in Indonesia

Understanding which sectors allow foreign investment and at what percentage is critical for structuring your Indonesian business correctly.

Many Sectors Fully Open

The 2021 reforms opened most business sectors to 100% foreign ownership

Strategic Sectors Restricted

Certain industries like media, small-scale retail remain capped or closed

KBLI Determines Limits

Your KBLI code selection directly determines foreign ownership eligibility

Ownership Categories

PT PMA Structure

A PT PMA (Penanaman Modal Asing) is the standard vehicle for foreign investment in Indonesia. It requires minimum capitalization and registration with BKPM.

  • Min. IDR 10 billion investment
  • Can be 100% foreign-owned (sector dependent)
  • Full profit repatriation rights

Key Regulated Sectors

Some sectors have special regulations or percentage caps regardless of KBLI openness:

  • Media/Broadcasting: Max 49% foreign
  • Retail <400m²: Closed to foreign
  • Telecom: Max 67% foreign

How to Check Foreign Ownership Limits

1

Search Your Activity

Use our KBLI search to find the classification code that matches your business activity

2

Check the Limits

View the foreign ownership percentage and any special conditions attached to that KBLI code

3

Plan Your Structure

Structure your company ownership to comply with the limits, using local partners if required

Frequently Asked Questions

Ready to Start Your Indonesian Business?

Our team specializes in setting up PT PMA companies for foreign investors. We'll help you navigate KBLI codes, ownership structures, and all regulatory requirements.