Open a Corporate Bank Account in Indonesia: What Banks Check
How to open a corporate bank account in Indonesia: what banks ask for, whether a director must attend in person, and the beneficial owner check.
- POJK No. 8 Tahun 2023 on anti-money laundering and counter-terrorist financing in the financial services sector, in force 14 June 2023 — Articles 21, 23, 27, 30, 33 and 35
- Perpres No. 13 Tahun 2018 on identifying the beneficial owners of corporations — Article 4
- UU No. 40 Tahun 2007 on Limited Liability Companies, as amended by UU No. 6 Tahun 2023 — Articles 7(4) and 14(1), and the Elucidation to Article 33(2)
- Permeninves/BKPM No. 5 Tahun 2025, in force since 2 October 2025 — Articles 26 and 27, paid-up capital and the 12-month commitment
- PMK No. 81 Tahun 2024 — Article 40(1), registering for an NPWP
- UU No. 7 Tahun 2011 on Currency — Article 21; PBI No. 6 Tahun 2024 — Article 112(2)
- Published account requirements of BCA, Bank Mandiri, BNI and CIMB Niaga, read 14 September 2026
A corporate bank account in Indonesia can be opened once the company exists on paper. Under the rules of OJK (Otoritas Jasa Keuangan, the financial services authority), the bank asks for the company’s deed, business licence and tax number, and must identify who ultimately owns and controls it before the account opens (OJK Regulation 8 of 2023, Articles 27 and 33).
For a PT PMA, a foreign-owned limited liability company, the account also holds the paid-up capital, which the company commits to keep there for 12 months (Permeninves/BKPM Regulation 5 of 2025, Article 27). Each bank adds requirements of its own beyond OJK’s, so what follows separates the two.
When a company can open its account
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Deed of establishment
The founders sign the deed of establishment before a notary.
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Registration
The company becomes a legal entity once it is registered with the Ministry of Law (Company Law, Article 7(4), as amended by UU 6/2023).
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NIB
The company receives its NIB (*Nomor Induk Berusaha*, the business identification number) through OSS (Online Single Submission), the licensing system.
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NPWP
The company registers for its NPWP (*Nomor Pokok Wajib Pajak*, the tax number) within one month of being established (Minister of Finance Regulation 81 of 2024, Article 40(1)).
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Application and checks
The bank checks the documents and the company's owners, before the account opens or, where its risk procedures allow, within three working days of opening it (OJK Regulation 8 of 2023, Article 30(5)–(7)).
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Paid-up capital
A PT PMA pays in its capital, which stays in the account for 12 months except to buy assets, construct buildings or run the business (Permeninves/BKPM Regulation 5 of 2025, Article 27).
A bank deposit slip is one way to show the capital has been paid up (Company Law, Elucidation to Article 33(2)).
Opening before registration
Until it is registered, a company acts through all of its directors, founders and commissioners together (Company Law, Article 14(1)). Some banks offer a route for a company still being formed: Bank Mandiri accepts a notary’s cover note, with limits on the account until registration is complete.
What the rules require, and what banks add
From a company that is not a micro or small business, which includes a PT PMA, a bank must obtain the company’s core documents, a power of attorney and specimen signatures (OJK Regulation 8 of 2023, Article 27; Permeninves/BKPM Regulation 5 of 2025, Article 26). The main items compare like this.
| In the regulation | Asked for by banks | |
|---|---|---|
| Deed and articles | Required | All four banks read |
| Business licence | Required | The NIB, at BCA, Bank Mandiri and BNI |
| Company NPWP | Required | All four banks read |
| Directors' identity | Required | All four banks read |
| Shareholders' identity | Not named | BCA, with each shareholder's NPWP |
The regulation also asks for details of the board and ownership. MAM read the banks’ published requirements on their own websites on 14 September 2026, and they change. The company’s tax number, and how it is issued, is explained in the 16-digit NPWP.
The beneficial owner check
The bank identifies the individuals who ultimately own or control the company, and confirms who they are and where their money comes from (OJK Regulation 8 of 2023, Article 33(2)–(3)).
A beneficial owner is an individual who holds more than 25% of the shares, votes or profits, or who otherwise controls or benefits from the company (Presidential Regulation 13 of 2018, Article 4).
The bank opens the account only once it has established who the owners are (Article 33(12)). Each bank decides for itself which customers it looks at more closely (Article 35).
Does a director have to attend?
No regulation requires it. A bank may verify a customer in person, by a live video call with a bank employee, or electronically without a meeting (OJK Regulation 8 of 2023, Article 21(2) and (4)). Which of those it offers is its own policy, and some banks ask for a branch visit.
A foreign director’s stay permit is also a matter of bank policy. The OJK regulation does not mention a KITAS (limited stay permit) or KITAP (permanent stay permit), but BCA and Bank Mandiri name one of the two in their published requirements.
Deposits and foreign currency
No regulation sets a minimum opening deposit; each bank publishes its own. A company may also hold foreign currency. Deposits in a foreign currency are exempt from the obligation to use rupiah, but payments inside Indonesia must still be made in rupiah unless another exception applies (Currency Law, Article 21). Buying foreign currency with rupiah needs a document showing the underlying transaction (Bank Indonesia Regulation 6 of 2024, Article 112(2)).
If the company already has an account
Buying a shelf company can bring an existing account with it. The new owners and directors agree the change of signatories with the bank before using the account.
As part of company setup, MAM prepares the documents for the bank and works through the application with it, drawing on its experience of what each bank asks for in practice.