FOREIGN BANK BRANCH OFFICES
This group includes the activities of foreign banks that open branches in the territory of Indonesia, including the foreign exchange bank group whose main activities are collecting public funds in the form of demand deposits, deposits and savings in the form of rupiah and foreign currency and channeling their funds back in the form of credit extension, and serving foreign transactions. . Foreign Bank is a Branch Office having an address and domicile in Indonesia from a Bank domiciling abroad, which is established under foreign law and having its head office abroad, which is directly or indirectly responsible to the head office of the Bank concerned as stated in applicable Bank Indonesia regulations
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Key requirements to set up a foreign bank branch offices in Indonesia
The following requirements are based on the Indonesian business classification code 64124
- Maximum foreign ownership
- Minimum capital
- Rp. 0 billion
- Local SME partnership required
What is a KBLI 64124?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
64124 stands for foreign bank branch offices
|Section||Financial and insurance activities|
|Division||Financial service activities, except insurance and pension funding|
|Indonesian class||Foreign bank branch offices|
Activities similar to Foreign bank branch offices
- Sharia micro financial institutions
- Other monetary intermediation
- Sharia conventional loan save cooperations or units
- Lembaga keuangan mikro konvensional
- Sharia business unit
- Cooperative save loan or conventional save loan unit
- Devisa sharia commercial bank
- Non devisa sharia commercial banks
- Bank pembiayaan rakyat (bpr) syariah
- Bank umum swasta devisa
- Non devised private commercial banks
- Public credit bank (bpr)
What are the requirements to set up a foreign bank branch offices in Indonesia?
- This business classification does not allow foreign ownersip.
The process of registering foreign bank branch offices company in Indonesia
The exact process of registering a foreign bank branch offices company depends on the location of your company's registered address.