Open a Bank Account in Indonesia

Updated on Thursday 22nd March 2018

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Both foreign investors and citizens must consider opening bank accounts when they move to Indonesia. This is because most of the transactions here are completed online through credit cards which are linked to local bank accounts.
There are several types of accounts which can be opened in Indonesia. Our company formation advisors in Indonesia can offer information on how to set up a local bank account.

Types of bank accounts which can be set up in Indonesia

Both local and foreign citizens can open the same types of Indonesian bank accounts. These are:

-          checking or current accounts;
-          savings accounts;
-          deposit accounts.

In the case of Indonesian companies, these can open corporate and merchant bank accounts. Our company registration agents can assist with the establishment of the corporate account as part of the procedure of starting a business in Indonesia.
An interesting fact about Indonesian banks is that they also allow the opening of tourist bank accounts.

Please watch our video for more information on how to open a bank account in Indonesia:

Requirements for bank account opening in Indonesia

In order to open an Indonesian bank account, an individual must:

-          be at least 21 years old;
-          file proof of residency in Indonesia.

Other documents such as an employment letter or a tenancy contract are required.  Also, once the account is opened, the owner must make an initial deposit which depends on the requirements of the bank. Our local advisors can offer detailed information on the requisites related to setting up a bank account.

Opening corporate bank accounts in Indonesia

The corporate bank account is mandatory when starting a business in Indonesia. In order to set it up, the representative must file the following documents with the chosen bank:
-          a tax registration number;
-          a business license;
-          a certificate of incorporation;
-          an application form issued by the bank;
-          identification papers of the company representative.

Considering an Indonesian bank account must be opened in person, power of attorney to a representative may be granted in order to complete the process.
If you want to set up a bank account and need assistance, please feel free to contact us. Our company incorporation consultants can also help those interested in starting a company in Indonesia with the business registration procedure.


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