What is a PT PMA?
PT PMA stands for Perseroan Terbatas Penanaman Modal Asing — a foreign direct investment limited liability company. It is the legally required business structure for any foreign individual or company that wants to own and operate a business in Indonesia.
Without a PT PMA, foreign nationals cannot legally operate a business, hire Indonesian employees, issue tax invoices (Faktur Pajak), or open a corporate bank account in Indonesia. It is the foundation that everything else in your Indonesian business operation is built on.
Who needs a PT PMA?
You need a PT PMA if you are a foreign national (or a foreign-owned company) that wants to:
- Own and operate a business in Indonesia
- Hire Indonesian employees under a formal employment contract
- Issue or receive tax invoices for B2B transactions in Indonesia
- Open a corporate bank account in Indonesia in your company's name
- Apply for an ITAS investor visa to legally live and work in Indonesia
- Hold Indonesian property or assets in a company name
If any of these apply to you, a PT PMA is not optional — it is the only legal path.
The 2021 Positive Investment List — what changed
In 2021, Indonesia introduced a major reform through Presidential Regulation 10/2021 (Perpres 10/2021) — the Positive Investment List. This replaced the old Negative Investment List that restricted foreign ownership in many sectors.
Under the new system, most business sectors are now open to 100% foreign ownership through a PT PMA. Some sectors retain local ownership requirements or are reserved for Indonesian nationals, but hundreds of sectors that were previously closed or restricted are now fully open.
This is why a KBLI advisory review is essential before you begin — the rules have changed significantly, and what was restricted two years ago may now be fully open.
The PT PMA formation process
The standard timeline from document submission to a fully operational company is 4–6 weeks. Here is what happens at each stage:
- Document collection (Days 1–3): Passport copies, company name preferences, business activity description, shareholder and director details, and virtual office address.
- Akta Perusahaan (Week 1): The company deed is prepared and signed with a licensed Indonesian notary. This is the legal founding document of your PT PMA.
- SK Kemenkumham (Week 1–2): The deed is submitted to the Ministry of Law and Human Rights for approval as a legal entity. This is the formal confirmation that your company exists.
- NIB via OSS (Week 2–3): Registration on the OSS (Online Single Submission) portal and issuance of your NIB — the master business license required for all operations in Indonesia.
- NPWP (Week 3–4): Company tax ID registration with the Directorate General of Taxes.
- Corporate bank account (Week 4–6): Account opening with BCA, Mandiri, BNI, or BRI.
Documents you receive
| Document | What it is | When |
|---|---|---|
| Akta Perusahaan | Notarised company deed — the legal birth certificate | Week 1 |
| SK Kemenkumham | Ministry of Law approval — legal entity status | Week 1–2 |
| NIB | Master business license number from OSS | Week 2–3 |
| NPWP Perusahaan | Company tax identification number | Week 3–4 |
| Corporate bank account | Operational account with major Indonesian bank | Week 4–6 |
| Company stamp | Required for contracts and government correspondence | Week 4–6 |
Minimum investment requirement
BKPM (the Investment Coordinating Board) requires a minimum declared total investment of Rp 10 billion (approximately USD 620,000) for a PT PMA. This is a frequently misunderstood requirement.
This is not a cash deposit. It is a declaration of total planned investment over the lifetime of the company — including the value of equipment, assets, operational costs, and paid-in capital. Most PT PMA formations are structured to meet this requirement through a combination of paid-in capital and declared future investment.
The minimum paid-in capital (modal disetor) is Rp 10 million — significantly lower than the total investment declaration.
What documents do you need to provide?
- Passport copies for all shareholders and directors (valid for at least 12 months)
- Passport-sized photos for each shareholder and director
- Proof of address (utility bill, bank statement, or government ID — issued within 3 months)
- Up to 3 company name preferences (we check availability)
- Description of your intended business activity (for KBLI classification)
What does it cost?
PT PMA establishment costs vary based on the package, notary location, and the specific KBLI classification. At Accufiler, our Standard package starts at USD 2,350 all-inclusive — covering notary fees, government fees, OSS registration, NPWP, and all professional service costs. There are no hidden fees.