KBLI 65302

FINANCIAL INSTITUTION PENSION FUND

This group is a pension fund established by a commercial bank or life insurance company for the community or individuals or a company for its employees. Included in this group are businesses to collect and invest funds for the purpose of paying a certain amount of money at retirement. Funding and administration of compulsory social security provided by the government for the benefit of the public or general are included in the 84300 group.

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Key requirements to set up a financial institution pension fund in Indonesia

The following requirements are based on the Indonesian business classification code 65302

Maximum foreign ownership
100%
Minimum capital
Rp. 2.5 billion
Local SME partnership required
No

What is a KBLI 65302?

A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.

65

Division

3

Group

0

Class

2

Indonesian class

65302 stands for financial institution pension fund

KBLI 65302
Section Financial and insurance activities
Division Insurance, reinsurance and pension funding, except compulsory social security
Group Pension funding
Indonesian class Financial institution pension fund

Activities similar to Financial institution pension fund

What are the requirements to set up a financial institution pension fund in Indonesia?

Shareholders

  • At least two shareholders
  • Maximum of 100% of the shares can be held by foreign shareholders.

Capital

  • 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.

Corporate structure

  • 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
John Smith Australia Commissioner 2500 Rp625000000
Budianto Indonesia Director 0 Rp 0,00
10000 Rp 2.500.000.000,00

The process of registering financial institution pension fund company in Indonesia

The exact process of registering a financial institution pension fund 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.

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