Opening a personal bank account in Bali without residence permit

Thinking of a good reason why to be opening a bank account in Bali? How about feeling annoyed by having to use your overseas bank account for daily transactions while you moved here for a longer term. However, like in most countries it is difficult for a foreigner to open a bank account without at least processing […]

Thinking of a good reason why to be opening a bank account in Bali? How about feeling annoyed by having to use your overseas bank account for daily transactions while you moved here for a longer term. However, like in most countries it is difficult for a foreigner to open a bank account without at least processing the residence permit.

Below article focuses on opportunities how to open a foreign individual bank account in Bali without having a residence permit.

What kind of support a relocation package provides in this situation? Or where to start off when planning to open a corporate bank account in Bali?

Table of contents

    Opening bank account for foreign individuals

    As a newcomer in Bali, the first few weeks are all about getting cozy with your surrounding infrastructure –  locating your nearest grocery store, ways of transportation and finding a trustworthy ATM. The next step for a foreigner settling in in Bali is to start looking for a reliable bank.

    Now is the time to open a foreign currency bank account with a credible bank to take good care of your finances while living the dream in Bali. The process however is not as simple as it seems. Most of the banks require foreign applicant having a temporary stay permit (KITAS) for opening bank accounts.

    Processing KITAS in Bali may take up to 6 months from submission. This is also why many foreigners choose to skip the step and continue using their foreign accounts. In the long run, this is an expensive and time-consuming move and therefore here at Emerhub we have been working hard to develop an alternative solution.

    Emerhub’s special arrangement with the banks

    Since we have established more than 500 foreign companies in Indonesia we have built good cooperation with several Indonesian banks. With Emerhub’s recommendation it is possible for a foreign national to open a bank account without having a stay permit in Indonesia.

    To avoid confusion and loss of time when preparing your bank account, Emerhub will arrange a meeting in our office. Necessary documentation is prepared and signed by the bank already. This also takes away the hustle of wasting time in the bank and not properly understanding what you are signing due to language barriers.

    Foreign individual can also open an account remotely – if not in Bali then by sending the signed documents via post. Though, in order to enable internet banking for your new account, the authentication is required in the bank on spot.

    We recommend to process the business visa and a personal bank account exclusively together. This new combined relocation package by Emerhub is made to ease doing business in Indonesia by saving your time and energy. It combines the two most vital services a foreigner needs to start off and manage in a new destination.

    If you plan to live and work in Bali, perhaps even bring your family, we also have an extended plan.

    Relocation to individuals and families

    Based on the needs foreigners cater to when moving to Bali, we created two relocation packages. Made to meet the needs of either solo travelers or entire families in relocation. These packages help enter Bali without any unnecessary delays:

    bank account in Bali

    Stay in Bali

    The multiple entry business visa is valid for a year. This makes it one of the most convenient visa types a foreigner can process in Bali. There is neither an extension requirement nor need to go back and forth to the immigration office. The main term to remember about the business visa is that after every 60 days you must leave the country. A so called visa run.

    Transactions with a foreign bank account are not economically beneficial when your intention is to stay in Bali. A local bank account saves you the trouble of being charged with bank fees every time you pay or withdraw money.

    Live in Bali

    This plan is a match when planning to live in Bali, especially with family. It is a perfect option if you plan to live in Bali as self-employed or working as a digital nomad. The relocation package comes with essential benefits such as registering you at the National Manpower Security Agency (BPJS) for Social Security Program and getting a temporary stay permit.

    KITAS provides full flexibility for a stable lifestyle and ease of leaving the island whenever the need occurs. Easily cross borders during the validity period of the temporary stay permit as this is a multiple entry visa. In addition, when having KITAS you can obtain Indonesian driving license. When compared to other available visas, working permit is more costly. Yet, it is also the only one giving foreigner the permission to work in Bali.

    However, the working permit allows to work only in the entity sponsoring it. For example, when setting up your own representative office, and getting work permit from the office, you can work for the same representative office.

    In fact, having a KITAS sponsored by a representative office a natural person can even acquire land in Bali (Hak Pakai). An especially suitable aspect for those making the island their home for longer, as the land certificate is initially given out for 25 years with the possibility to extend up to 80 years. See us covering the land acquisition furthermore in our recent blog article.

    Opening a corporate bank account in Bali

    For investors conducting business in Indonesia it is easier to manage with a local bank account. However, opening a bank account for your company in Bali is possible only if it is an Indonesian legal entity.

    When planning on opening an account, first open a limited liability company or a representative office of a foreign company in Indonesia. Make sure to also catch a glimpse of our article 7 common mistakes before you set up company in Indonesia.

    Reach out to Emerhub Bali if you plan on relocating or opening a bank account in Bali smoothly. Fill in the form below and our team will get back to you at the soonest.

    Let's grow your business in Bali

    Emerhub has years of experience with bank account opening in Bali.

    Get in touch with Emerhub by filling in the form below and our consultants will reach out to you within a few working hours.

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    Extremely patient

    The staff at Emerhub was extremely patient in answering my questions over an extended research period. Once the right structure for our PMA was clarified the actual creation of the entity was quite quick and easy.

    Gove DePuy
    Managing Director,

    Helped us comply with local taxes

    Emerhub provided important insights on how to properly organize our company structure. They supported us in getting our corporate KITAS and staying compliant with tax reporting. The team is supportive, professional, and fast.

    Samuli Pitkamaki
    Founder, Samurai Customs

    Professional and easy to work with

    The team at Emerhub was extremely professional in helping us setting up our business in Bali, from incorporation to visas and now trademark registration. The experience of working together was easy and clear. We would happily recommend Emerhub to others looking for market entry support.”

    Aaron Turner
    Co-founder, Solace Float

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