LEMBAGA KEUANGAN MIKRO KONVENSIONAL
This group includes financial institutions whose business activities run their business conventionally, including business development and community empowerment services, either through loans or financing in micro-scale businesses to members and the community, savings management, as well as providing business development consulting services. Financial institutions included in this group include Village Banks, Lumbung Desa, Market Banks, Employee Banks, Village Credit Bodies (BKD), District Credit Bodies (BKK), Small People's Business Credit (KURK), District Credit Institutions (LPK), Bank Karya Village Production (BKPD), Rural Credit Business Entity (BUKP), and the like
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Key requirements to set up a lembaga keuangan mikro konvensional in Indonesia
The following requirements are based on the Indonesian business classification code 64151
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 64151?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
64151 stands for lembaga keuangan mikro konvensional
|Section||Financial and insurance activities|
|Division||Financial service activities, except insurance and pension funding|
|Indonesian class||Lembaga keuangan mikro konvensional|
Activities similar to Lembaga keuangan mikro konvensional
- 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
- Bank pembiayaan rakyat (bpr) syariah
- Devisa sharia commercial bank
- Non devisa sharia commercial banks
- Bank umum swasta devisa
- Non devised private commercial banks
- Public credit bank (bpr)
What are the requirements to set up a lembaga keuangan mikro konvensional 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 lembaga keuangan mikro konvensional company in Indonesia
The exact process of registering a lembaga keuangan mikro konvensional 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.