Both natural and legal persons are entitled to open a bank account in Indonesia. Find out how to open a bank account in Indonesia here.
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How Foreigners Open Bank Accounts in Indonesia
Corporate Entity
Opening a corporate bank account is one of the mandatory steps of a foreign-company incorporation process. The account must be established with a bank that is licensed as a Foreign-Exchanged Bank or Bank Devisa so that it can handle foreign currencies.
Even though most banks allow setting up a bank account after the company registration is complete, it is also possible to register a bank account during the process. Unfortunately, not all banks provide this service.
Foreign Individual
Banks apply different requirements, but a stay permit (either temporary or permanent) is required. Only with ITAS or ITAP foreign individuals in Indonesia are allowed to open bank accounts. In-depth knowledge of Indonesian regulations plays an important role because other than ITAS or ITAP, you will also have to prepare supporting documents.
In Indonesia, there are three commonly used bank accounts, namely saving, checking, and deposits accounts.
Savings account
- Frequently used account that allows real-time transfers.
- ATM card
Checking account
- Payments via checks or giro (demand deposit)
- Delayed payment by retroactive checks
Deposit account
- Higher interest rates
- Deposits are withdrawn based on an agreement between a client and a bank
Open a Bank Account in Indonesia with InCorp
On top of the bank account opening for foreign citizens and legal entities in Indonesia, InCorp Indonesia can assist in the following services that require an individual approach.
Registration of a Corporate Account from Overseas
Thanks to our partnership with several banking institutions, it is possible to open a bank account while staying in a different country. Once provided with the required documents, InCorp Indonesia will act on our client’s behalf and set up an account.
Open a Bank Account in Indonesia before Company Registration
To save time, InCorp Indonesia is here to work on customers’ behalf and start a business bank account during the establishment of a foreign-owned company is completed.
Open a Bank Account Now
Read Full Bio
Pandu Biasramadhan
Consulting Manager at InCorp Indonesia
An expert for more than 10 years, Pandu Biasramadhan, has an extensive background in providing top-quality and comprehensive business solutions for enterprises in Indonesia and managing regional partnership channels across Southeast Asia.
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mark in Indonesia?
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What Our Clients Say
After comparing several consultants, I found InCorp Indonesia is a international and professional organization with good understanding of local market. InCorp Indonesia helped our company to set up our first Indonesian entity, and also helps with day-to-day operation. InCorp Indonesia showed high level of professionalism. Jump start the business in Indonesia, take care of routine process, therefore we can focus more on our core business.
China Fortune LandDevelopment Co,. Ltd.
Cekindo provided outstanding services in registering our representative office in Indonesia in a timely manner. Their financial services have been helping us a lot — our local employees feel secure working for our company. Cekindo became our reliable partner with quick response on our needs. Their flexibility and full support of our business in Indonesia are the main reasons to continue in our cooperation.
Desmi
We chose Cekindo because we considered Cekindo as a professional company with a good attitude and a streamlined business model. Cekindo met all our expectations as it created the atmosphere of accountability and transparency. The most significant added values that we received from cooperation with Cekindo are the time we saved and mistakes we avoided.
PT AESK
We were searching for suitable partner for the begining of our operation on Indonesian market. After short exploration and recommendation from our business partners we decided for Cekindo. Local knowledge, orientation at our business problematics, contacts and language. In a friendly approach combined with professional service. Consultation before the project – avoids so much unnecessary act of “foreigners” worse overview of the Indonesian legislative.
Sedbergh, Ltd.
Herewith we want to express our appreciation to PT. Cekindo Business International and their team for all the support on medical devices services so far. We would like to take this opportunity to thank Cekindo for taking the time to listen to our needs. Whenever a need has arisen, we have always received their consistent, timely and quality support. We would not hesitate to recommend Cekindo team for any related activity or services.
ELC Group
Our Clients Find This Helpful. Please Review.
Rating: 4.5/5. From 16 votes.
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