Business Opportunities in Bali According to Indonesia’s Positive Investment List   

Did you know that Indonesia’s foreign direct investment grew by 12.7% in 2025, with Bali’s economy contributing its highest growth rate to date, at 5.82%? With Rp 42 trillion (~USD 2.5 million) in realized investment in the first quarter alone, the island continues to reinforce its position today as a thriving, commercialized hub.

Driving much of this momentum is Indonesia’s Positive Investment List, which reshaped the framework for foreign entrepreneurs by easing ownership restrictions and opening up more sectors to full foreign equity.

So, what does this mean for foreign entrepreneurs? This guide breaks down the 2026 regulatory landscape. We’ll cover high-growth opportunities in Bali today that go beyond traditional tourism and real estate.

What’s New in the 2026 Regulatory Landscape in Bali?

Operating a business or property investment in Bali requires strict adherence to formalized standards. To maintain your compliance in 2026, here are three critical regulatory shifts that you should take note of:

• OSS Block on Lower-Risk PMAs: Bali’s OSS system now rejects all new PMA registrations for business activities classified as low and medium-low risk. The restriction is active and applies province-wide. Read the full update here.
• Paid-Up Capital Reduction: Under BKPM Regulation No. 5 of 2025, the minimum paid-up capital for a PT PMA is lowered to IDR 2.5 billion (~USD 150,000) from the previous IDR 10 billion (~USD 600,000. However, your Total Investment Plan must still exceed IDR 10 Billion) per KBLI. Existing PT PMA following the previous paid-up capital can apply for capital structure amendments.
• The KBLI 2025 Update: Indonesia has officially launched a new classification system (KBLI 2025). Many codes have been split or merged, especially in digital and “green” sectors. If you are using a 2021-era KBLI, you will need to update your data in the OSS system by June 18, 2026, to remain compliant.

Emerhub assists with company registration, corporate restructuring, and KBLI alignment in Bali. For questions about PT PMA compliance or the new restrictions in Bali, schedule a free consultation today.

Sector-Specific Business Opportunities in Bali

The Positive Investment List clarifies which sectors allow for full foreign equity. Below, we have grouped the most relevant opportunities into their respective industry clusters to help you align your PT PMA structure correctly.

Note that the KBLI restriction in Bali applies a second filter. Even if a sector is open under the Positive Investment List, a PMA registration will be rejected in Bali if the business activity falls under the low-risk or medium-low-risk tier.  However, Emerhub can help you arrange alternative structures that are fully compliant.

Business Opportunities in the Hospitality & Tourism Industry

The hospitality sector remains the cornerstone of Bali, but the 2025 KBLI update introduces more granular codes for accommodation businesses. Most high-standard accommodation services are now open to 100% foreign ownership, provided they meet the star-rating or specific luxury criteria.

Smaller-scale operations are generally closed to foreign investors to protect local businesses.  If you are looking at models that fall outside the open categories below, Emerhub can advise on structures that are compliant within the current restrictions.

Business Activity	KBLI	Description	Foreign Ownership	License Required
Star Hotel	55101– 55104	2 to 5-star hotel facilities and services.	Open	Verified Standard Certificate + PBG/SLF + Env. Permits
Villa	55203	Individual luxury houses provided as commercial accommodation.	Closed	Verified Standard Certificate + PBG/SLF + Env. Permits
Aparthotel	55204	Apartment-style buildings managed as hotel units.	Closed	Verified Standard Certificate + PBG/SLF
Hotel Melati (Non-Star Hotel)	55106	Budget or “Economy” hotels (Non-star).	Closed	Verified Standard Certificate + Local Permits
Pondok Wisata	55201	Small-scale homestays or guest houses (max 5 rooms).	Closed	Verified Standard Certificate + Local Permits
Travel Agency	79121	Organizing and selling tourism travel packages.	Open, with restrictions (local participation required for certain roles)	Verified Standard Certificate + K3L Declaration + SPPL (Env. License) + ASITA Registration
MICE Operations	82300	Professional organizing of meetings and exhibitions.	Open	Verified Standard Certificate

Business Opportunities in the Healthcare & Wellness Industry

Healthcare is a Priority Sector under the current administration, with a massive push toward medical tourism. For foreign investors, this creates a unique opening to target the high-end medical travel market (more on this below).

The following cluster covers opportunities that range from clinical healthcare to professional wellness and therapeutic care.

Business Activity	KBLI	Description	Foreign Ownership	License Required
Private Hospital Activities	86103	Health care and physical treatment activities for outpatient and inpatient care by private general or specialist hospitals.	Open	Private Hospital License (Izin Rumah Sakit) + Zoning Compliance
Private Clinic Activities	86105	Specialist or advanced clinic services (Klinik Utama) providing specialized medical care and diagnostics.	Open	Specialized Clinic License + Zoning Compliance
Health Support Activities	86993	Health support covering medical and stem cell labs, pharmaceutical warehouses, optical services, and specialized tissue/organ banks.	Open	Medical Laboratory Permit + Zoning Compliance
Spa Activities	96230	Holistic body care using hydrotherapy, massage, and aromatherapy focused on physical and mental fitness.	Open	Verified Standard Certificate + Zoning Compliance

Business Opportunities in the Trade Industry

The Positive Investment List opened up many trade sub-sectors that were previously closed or heavily capped, most notably in modern retail and distribution. Previously restricted areas like Supermarkets and Department Stores are now accessible alongside a fully liberalized wholesale sector. 

Foreign investors can now access 100% ownership across these wholesale and retail categories, provided you meet specific scale and floor space requirements.

Business Activity	KBLI	Description	Foreign Ownership	License Required
Wholesale of Pharma and Cosmetics	46441	Wholesale trade of pharmaceutical and cosmetic preparations for human use.	Open	a. Facility / Warehouse Registration (CDOB)b. Product Registration to BPOM
Pharmaceutical Products Industry for Humans	21012	Manufacturing of finished medicines for humans, including tablets, capsules, and specialized medical supplements.	Open	a. Fulfillment of the SNI of Non-Ferrous Base Metalb. Registered with the National Industrial System (SIINAS)c. Meets the Industrial Standards for Pharmaceutical Products for Human Used. Industrial zoning compliance
Wholesale of Food/Bev	46339	Distribution of various processed foods and nutrition.	Open	a. BPOM MD/ML registrationb. Mandatory Halal Certification (for specific products, enforced October 2026).
Supermarket	47111	Retail sale of various goods, primarily food, beverages, or tobacco in supermarkets or hypermarkets.	Open	a. MSME Partnership Agreementb. Area > 400 sqm
Department Store	47191	Retail sale of various goods, primarily non-food items, in department stores (Toserba).	Open	a. MSME Partnership Agreementb. Area > 400 sqm

For a breakdown of your specific activities, we recommend referencing the Appendices of Presidential Regulation No. 10/2021. Our Bali team can also verify applicable KBLIs that align with your intended activities. Reach out via the form below.

Hidden Business Opportunities in Bali for 2026

First, let’s establish that Bali’s lifestyle and wellness sectors have become increasingly competitive in recent years. Short-term rental businesses and property investment, for instance, remain popular entry points among foreign entrepreneurs. 

The hidden potential today lies in essential services that resolve some of the island’s most pressing needs. Below, we explore some of the most overlooked activities that are open to foreign ownership in Bali today. 

The KBLIs below fall under higher-risk KBLIs and are not affected by Bali’s current restrictions. That said, risk classifications are also subject to change under the KBLI 2025 framework, which remains under government review. We recommend confirming the applicable codes with our local advisors before registration.

A. EV Charging Stations (KBLI 35114)

With around 150,000 EVs currently on Indonesian roads, the country faces a steep climb to reach its 2030 target of 15 million electric cars and motorcycles. To meet this goal, the current network of 4,600 stations needs to grow tenfold, offering a massive gap for both local and private investors to fill.

This is one of the few infrastructure plays in Indonesia where 100% foreign ownership is permitted, provided you operate under a partnership with PLN (Indonesia’s State Electricity Company). You can choose from four partnership schemes, ranging from simple land leasing to full-scale infrastructure support. 

• Sharing Scheme: PLN provides hardware; you provide the land and management.
• Provider Scheme: You provide hardware and grid connection; PLN handles the digital system.
• Lease Scheme: You lease strategic land to PLN, who handles full infrastructure.
• Investor Scheme: You provide all hardware and infrastructure for maximum revenue share.

Most entrepreneurs opt for the “Provider” or “Investor” models to maximize revenue share and ensure their stations are integrated into the PLN Mobile app. 

For the full setup process, see our guide on How to Open an EV Charging Station in Indonesia.

B. Vertical Farming & Hydroponics (KBLI 01133 or 28210)

While the island is synonymous with rice terraces, the culinary corridors of Canggu and Uluwatu still import the majority of their gourmet greens from Java. You can establish climate-controlled vertical farms to provide local establishments with “farm-to-table” products that imported goods simply cannot match.

The most effective approach is to focus on high-quality organic produce and specialty greens such as kale, arugula, and microgreens. Bali’s top-tier restaurants are increasingly willing to pay a premium for fresh, locally-grown ingredients that offer consistent quality and reliable supply. Partnering with established hospitality groups early in the development phase can help secure offtake agreements before your first harvest.

C. Sustainable Waste Management (KBLI 38219)

Bali’s environmental challenges have created a genuine demand for professional-grade circular economy solutions. It presents commercial opportunities for material recovery facilities that process waste into construction materials or designer exports. 

Think premium architectural finishes crafted from reclaimed polymers or structural eco-concrete made from glass aggregates. As this is currently designated as a “Priority Sector,” your business may qualify for substantial corporate tax holidays and simplified customs processing for specialized machinery.

D. Longevity & Preventive Healthcare (KBLI 86105 or 86993)

Bali has long been a sanctuary for spiritual and traditional wellness, but we are also seeing a move toward medical tourism. This shift is anchored by the Sanur Special Economic Zone (SEZ), a massive project designed to retain the USD 9 billion Indonesians currently spend on overseas healthcare each year.

As higher-spec medical infrastructure develops, a new segment of patients is emerging. You can target both locals who would have otherwise travelled abroad for treatment, and international patients seeking high-quality care. This creates an opening for specialized clinics such as:

• Specialized Dermatology Clinics (Klinik Dematologi): Focusing on clinical skin health and advanced diagnostics.
• Aesthetic & Injection Centers (Klinik Injeksi Kecantikan): Providing professional-grade anti-aging treatments and cellular rejuvenation.
• Laser Treatment Hubs (Klinik Perawatan Laser): Offering high-spec medical technology for corrective and preventive care.
• Hollistic Wellness Clinics (Klinik Wellness Holistik): Combines medical aesthetics with traditional therapies and lifestyle guidance for overall well-being. 

Entering this market, however, means navigating a tighter regulatory environment than a standard wellness business. Licensing a clinic under Health Support or Specialist Services involves specific technical certification.

It’s also critical that your medical director is fully up to speed with current Indonesian health standards to ensure long-term compliance as clinical oversight increases.

E. Creative Content Production Hubs (KBLI 60390 or 74193)

The creator economy has turned Bali into a global base for YouTubers and streamers, but professional-grade infrastructure is still catching up. There is a growing demand for infrastructure that goes beyond a desk and a Wi-Fi connection. Specifically soundproof podcast studios, high-spec post-production suites, and specialized lighting stages.

If you’re considering a creative marketing venture, the most significant opportunity lies in knowledge transfer. Rather than simply providing infrastructure, you can:

• Creative Strategy & Mentorship: Leverage international expertise in global marketing trends, algorithm optimization, and high-end brand storytelling.
• Technical Product Skills: Introduce advanced post-production workflows, color grading standards, and AI-integrated editing that local creators are eager to adopt.
• Collaborative Ecosystems: Move away from “rent-a-desk” models toward “production incubators” where foreigners and locals collaborate to produce export-quality digital goods.

KBLI Compliance Tip: While the codes above provide a general framework, the latest landscape includes more granular KBLIs tailored to specific activities. Emerhub can identify specific codes that maximize your foreign ownership and operational freedom. Talk to our team today.

Business Facilities Offered by the Indonesian Government for Bali Businesses 

The Positive Investment List actively prioritizes industries deemed critical for Bali’s economic diversification. This currently covers 245 business fields, including advanced manufacturing, the digital economy, infrastructure development, and pharmaceuticals.

Businesses operating under a Priority KBLI, such as vertical farming or pharmaceuticals, are eligible for strategic facilities. These incentives are specifically designed to offset the island’s high capital requirements:

Fiscal Incentives	Non-Fiscal Incentives
Tax Holidays: 100% corporate income tax reduction for 5–20 years (investments >IDR 500B); 50% CIT reduction for investments between IDR 100 billion (~USD 6.9 million) and IDR 500 billion (~USD 34.9 million) for 5 years.	Streamlined Licensing: Priority processing through the OSS-RBA system, bypassing many standard local domicile wait times.
Tax Allowances: 30% reduction in taxable income spread over 6 years (5% per year) based on the total investment value.	Infrastructure Support: Guaranteed access to energy supplies and facilitation of import duties for specialized machinery (Master List facility).
Dividend & Loss Perks: Reduced withholding tax rate on dividends (10%) and can carry forward tax losses for up to 10 years.	Operational Facilities: Support in securing essential raw materials and availability of specialized business infrastructure.

These facilities are not automatically awarded. You must fulfill at least one of the following requirements to qualify:

• Labor Intensive: Employing > 200 Indonesian workers, or ensuring that labor costs account for at least 15% of total production expenses.
• Capital Intensive: Committing a substantial long-term investment, generally exceeding IDR 100 billion (~USD 6.9 million).
• Strategic National Interest: Aligning with national projects or focusing on export-oriented production to strengthen Indonesia’s trade balance.
• Pioneer Industry: Operating in specialized high-growth fields such as renewable energy, metal production, or oil refining.
• Technical Innovation: Utilizing advanced “Industry 4.0” technologies or dedicating significant resources to local Research and Development (R&D) activities.

Sectors that Remain Restricted or Closed to Foreign Investment in Bali

While the regulatory environment has moved toward radical openness, some sectors are protected for local MSMEs or national security. Of particular importance to Bali is the protection of small-scale accommodation businesses.

Category	Investment Condition	Key Business Lines Affected
Accommodation Sectors Reserved for Local Citizens	Closed to Foreign Ownership	Hospitality services under KBLI’s Group 55, such as Pondok Wisata, Non-star/Melati Hotels, Villa, and other small-scale accommodation businesses.
Mandatory MSME Partnerships	Requires formal partnership with local small businesses to support supply chain integration.	Traditional food processing, local handicrafts, small-scale farming, and labor-intensive cultural products.
Specific Ownership Limitations	Sectors that are open to foreign investment in principle, but have foreign equity caps (between 20% to 49%).	Publishing and broadcasting, postal services, domestic air/sea transport, and certain construction categories.
Highly Restrictive Sectors	Requires specialized ministerial approval or specific operational permits.	Defense-related industries, traditional medical products, and wood-based manufacturing.

Indonesia strictly prohibits investment in 6 specific sectors due to their sensitive nature. These industries are reserved for government control or are outright prohibited:

1. Class I Narcotics: Cultivation and industrial production of illegal drugs.
2. Gambling Operations: All forms of casino operations and gambling activities.
3. Endangered Species: Harvesting or trading species listed under CITES Appendix I.
4. Natural Coral Extraction: Removal of reef corals for jewelry, construction, or souvenirs– a rule strictly enforced in Bali waters.
5. Chemical Weapons: Manufacturing and industrial processing of chemical armaments.
6. Ozone-Depleting Chemicals: Production of substances harmful to the atmosphere.

Furthermore, activities related to National Defense and Security are the exclusive domain of the government. Any private involvement in these areas is only permitted through a direct, government-led partnership.

Expert Support for Foreign Investors in Bali

To ensure a smooth entry into the Bali market, it’s essential to have your legal and administrative framework handled correctly from the start. Between navigating KBLI 2025 updates and conducting rigorous land due diligence to avoid LSD penalties, formal compliance is now a crucial prerequisite to operating businesses in Bali.

Emerhub’s team in Bali specializes in managing this entire process for you. Whether you are setting up a PT PMA to scale a new venture or need guidance to navigate KBLI and local partnership requirements, our experts handle the due diligence and legal paperwork on your behalf.

Ready to explore your opportunities in Bali? Let us know about your plans in the form below, and our experts will reach out with tailored insights.