This group includes banking activities that have the authority and rights from the government to issue and circulate legal payment instruments, formulate and implement monetary policies, manage foreign exchange reserves, maintain and maintain the stability of the rupiah value, carry out the function of lender off the last resort and act as government bankers. . This group includes the activities of Bank Indonesia, the state institution that functions as the Central Bank
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Key requirements to set up a central banking in Indonesia
The following requirements are based on the Indonesian business classification code 64110
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 64110?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
64110 stands for central banking
|Section||Financial and insurance activities|
|Division||Financial service activities, except insurance and pension funding|
|Indonesian class||Central banking|
Activities similar to Central banking
- Sharia micro financial institutions
- Other monetary intermediation
- Sharia business unit
- Cooperative save loan or conventional save loan unit
- Sharia conventional loan save cooperations or units
- Lembaga keuangan mikro konvensional
- Devisa sharia commercial bank
- Non devisa sharia commercial banks
- Bank pembiayaan rakyat (bpr) syariah
- Non devised private commercial banks
- Public credit bank (bpr)
- Bank umum swasta devisa
What are the requirements to set up a central banking in Indonesia?
- At least two shareholders
- Maximum of 100% of the shares can be held by foreign shareholders.
- Minimum paid up capital is Rp 2.500.000.000,00
- Paid-up capital will not be injected in the company during the registration process. Instead, the shareholders issue a statement letter that at least the amount of minimum paid-up capital will be injected to the company once the registration is completed.
- At least one director. At least one of the directors must be an Indonesian resident. The directors are in charge of the daily operations of the company.
- At least one commissioner. Commissioners are overseeing the work of directors on behalf of the shareholders.
- The same person cannot be both a director and a commissioner.
- There is no requirement for the director or commissioner to hold shares in the company.
- Registered address in a building with the correct building permit.
Example of typical shareholder table
|Name||Country of origin||Role||Shares||Capital contribution|
|Smith Industries Ltd.||Australia||7500||Rp1875000000|
The process of registering central banking company in Indonesia
The exact process of registering a central banking company depends on the location of your company's registered address.
The fastest way to register a company in Indonesia is in South Jakarta (Jakarta Selatan), using Emerhub's registered address. This cuts down the registration time to five working days.
In Bali, the typical registration time is 3-4 weeks. Elsewhere in Indonesia the registration times vary between 2-6 weeks.