OTHER MONETARY INTERMEDIATION
This group includes receiving deposits and or or closing deposits and providing credit or loan funds. Credit assistance can take various forms, such as loans, secured loans, credit cards and others. These activities are generally carried out by financial institutions other than the central bank, such as financial intermediary services that are not classified elsewhere, such as loan sharks, credit unions, postal giro and laku pandai (postal savings) activities, special institutions authorized to provide credit for home purchases and also taking deposits and money order activities (money transfer).
Register a company in Indonesia
Fill in the form below and have a company registered in Indonesia in five working days.Contact our consultants
Key requirements to set up a other monetary intermediation in Indonesia
The following requirements are based on the Indonesian business classification code 64190
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 64190?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
64190 stands for other monetary intermediation
|Section||Financial and insurance activities|
|Division||Financial service activities, except insurance and pension funding|
|Indonesian class||Other monetary intermediation|
Activities similar to Other monetary intermediation
- 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 other monetary intermediation 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 other monetary intermediation company in Indonesia
The exact process of registering a other monetary intermediation 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.