Cekindo Business International is now InCorp Indonesia. Learn more.
InCorp offers a comprehensive range of solutions to ease the company registration process and help you create a viable roadmap for your business.
Get assistance from experts with a decade of experience in assisting international business owners expanding into Indonesia.
Avoid any bureaucratic complexity when closing your company by engaging with our experienced legal advisors.
What type of legal entities should you choose to register a company in Indonesia? We can assist you in choosing which is the best one to grow your business.
To help businesses survive during this unfortunate time, InCorp provides corporate recovery in Indonesia and insolvency services.
Granting an environmental permit in Indonesia needs an Environmental Impact Analysis (AMDAL) in advance.
Obtaining property & land ownership in Indonesia offers some challenges for foreigners. However, buying property in Indonesia is attainable with specific resources and documents.
Recent regulatory changes have a knock-on effect on Indonesia's Merger & Acquisition landscape. Check on how we can navigate you through your M&A in Indonesia.
InCorp provides Virtual Office services Indonesia in various locations: Jakarta, Bali, Semarang, Surabaya, and Batam.
Business process outsourcing in Indonesia is a viable option to streamline bureaucratic complexities that hurdle your business expansion objectives.
InCorp offers a complete range of accounting service Indonesia, from tax reporting to auditing.
With professional financial audit services from InCorp, you can ensure all accounting activities are accurately recorded and compliant with Indonesian regulations.
Using an Employer of Record service to set your roots in Indonesia opens the doors to new opportunities in the country.
Financial and Operational Resilience services from InCorp are developed to support businesses and help them survive during this difficult time.
Payroll services in Indonesia are a practical solution to avoid unnecessary complexities while you focus on growing your business.
Using a recruitment agency in Indonesia will help you hire the best candidates for your company, saving you time and money.
Tax consulting in Indonesia are the shortcuts to fulfill the administrative obligations with high accuracy and in a timely manner.
The Indonesian government promotes tax holidays as one of the fiscal incentives to attract major foreign direct investment in Indonesia.
Operating businesses in Indonesia, entrepreneurs must comply with the regulations accordingly, especially concerning taxes.
Immigration in Indonesia is one of the strictest and most complex processes due to its ever-changing regulations. InCorp provides a seamless experience in obtaining your stay and work permits.
Avoid any hassles by engaging with an experienced visa agent in Indonesia.
A dependent visa Indonesia is a document that allows foreigners to bring their family while settling down in the country.
Investor KITAS Indonesia is a stay permit that offers many benefits to investors that invest in the country.
Overseas Visas are required for Indonesians who are planning to stay abroad for an extended period of time.
KITAP is a permanent stay visa for foreigners who have intentions to stay in Indonesia.
Foreign retirees often find their plans stuck due to the complex visa application process. InCorp helps expedite the process.
Obtaining a social visa is daunting if you are not familiar with the country’s complex bureaucratic processes. Consult with us for a seamless Indonesian visa application experience.
Foreigners married to an Indonesian citizen are eligible for a spouse-sponsored KITAS.
Learn how to obtain an Indonesian tourist visa seamlessly and securely, directly from a trusted visa and travel agent.
Get assistance from a trusted visa agent in Indonesia to make your traveling plan to Indonesia even more convenient.
Expedite your Indonesian work permit application process by engaging with a trusted visa agent.
All imported goods must obtain permission granted by specific governing bodies prior to entering the local market.
Learn more about the cosmetic product registration services in Indonesia.
Learn more about exporting goods to Indonesia.
Learn more about the food & beverage product registration services in Indonesia
Learn how to go through halal certification in Indonesia directly from experts successfully.
Learn more about the health supplement product registration services in Indonesia.
Learn more about the household product registration services in Indonesia.
Learn more about importing goods from Indonesia
An Importer of Record in Indonesia is a legal service that enables companies to import products into Indonesia, through an import partner.
Learn more about the medical device registration services in Indonesia.
Register a trademark is necessary to avoid legal issues in the future. InCorp can help you with Trademark Registration services in Indonesia.
Compliance is one of the most challenging parts of business overseas, especially in a country packed with complex bureaucratic processes such as Indonesia.
Updating business documents to align with your company’s growth can be a hassle.
Due Diligence services are needed to assess the credibility of the company or partner you wish to work with or acquire in Indonesia
From Company Regulations to Employment Agreement Drafting, Employment law services from InCorp will help you to compliance with employment policy in Indonesia.
InCorp’s legal consultation services in Indonesia are crafted to help your business settle and fully comply with the latest regulations.
Organizations must continuously evolve and transform to remain competitive and relevant in today’s global environment ...
Companies face many opportunities and challenges as a result of a changing market and regulatory landscape ...
Adopting Environmental, Social, and Corporate Governance (ESG) practices can improve your company’s value ...
Risk Management services from InCorp Indonesia can assist companies in building confidence when making future business decisions ...
Transfer Pricing in Indonesia occurs when a company performs an internal transaction within the same business group or its subsidiaries
InCorp's transfer pricing advisory services in Indonesia are marked by the objective to support our clients' business needs.
Our transfer pricing services provide you with a hassle-free experience while still complying with the legal aspects of transfer pricing in Indonesia.
As the market-entry consulting firm in Indonesia, InCorp provides a wide range of customized solutions to ease the business incorporation process.
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.
InCorp can help you find a trusted Buying Agent Indonesia for product sourcing in Indonesia. Contact us now for a free consultation.
InCorp can help foreigners to get the driving license in Indonesia, whether SIM A or SIM C. Check out the requirements and the procedure, here.
IMEI Registration in Indonesia is necessary to ensure telecommunication devices from abroad can function properly in Indonesia.
With offices in Jakarta, Bali, Semarang, SUrabaya, and Batam, InCorp is ready to assist you as a local partner and distributor in Indonesia.
InCorp can help you to select the trusted local partners to import and distribute your products in Indonesia.
Improve your business by knowing the market conditions in Indonesia through market research services in Indonesia.
InCorp can help you gain information about your competitor's product through mystery shopping.
Whether it is for business or family reasons, if you know that you will be staying in Indonesia for a long period of time, you are probably thinking of opening a bank account. The reason is simple – to avoid the excessive ATM and bank fees that incur every time whenever there is a financial transaction.
In addition, foreigners who wish to purchase properties or start a business in Indonesia should make starting a bank account should be one of the first priorities.
To open a bank account in Indonesia as a foreigner is not so difficult to do, but your experience will highly depend on what permits you hold, and which bank you choose.
The good news is that with the huge draw of tourism and dynamic foreign businesses in Indonesia, there is a wide array of options in terms of financial and banking structures.
In addition to that, if you want the least hassle, it is advisable to apply for a bank account with larger banks such as BRI, Mandiri, or BCA.
In this article, we will let you know how to start a bank account as a foreigner and how Cekindo can assist you in this process.
Although banks highly prefer a limited stay permit (ITAS, also known as KITAS), a foreigner without an ITAS may be able to open a bank account under some circumstances. This is due to the recent reform initiatives in Indonesia that make the process more lenient in order to boost the country’s foreign investments and GDP.
Get to know more about an ITAS and understand if you are an eligible candidate
A foreigner without a permanent or temporary residency can open a limited balance tourist account. This is a bank account that caters to expats and tourists visiting Indonesia for a short and limited period of time.
A limited balance tourist account is also sometimes referred to as a tourist bank account. It requires a limited minimum balance of US$2,000 and a maximum balance of US$50,000.
You may just need your passport to open this account, even without a KITAS. However, one thing to bear in mind – foreigners might be charged high transaction fees if your account balance is less than US$10,000.
Since a lot of banks in Indonesia will consider any sort of KITAS – a required document to secure a bank account – this stay permit will come in handy when choosing from a bigger range of bank accounts in Indonesia, particularly those with a higher balance.
Of course, foreigners with a KITAS have no issues opening a limited balance tourist account.
An unlimited balance expat account allows an expat to have a higher balance. It is not related to a fixed balance and in order to open this account, an expat or a foreigner must identify themselves with a valid passport and another legal document by choice.
This additional document could be a KITAS, a reference document from their home country’s bank, a debit or credit card, a domicile letter, copies of residence contracts, or their spouse’s identification documents.
For a balance exceeding US$1,000,000, an expat in Indonesia is required to open a special balance expat account. The requirements for this account are the same as the unlimited balance expat account.
For foreigners who would like to start a company in Indonesia, especially a foreign-owned company, opening a corporate bank account is necessary. The setup of the bank account must be done with a licensed bank as a Bank Devisa or a Foreign Exchange Bank for the transaction of foreign currencies.
The establishment of the corporate bank account is often done upon the complete company registration. However, some banks have exceptions and allow expats to open a corporate bank account during the process of company registration.
Thanks to its vast network of contacts, Cekindo has negotiated faster process bank establishment and lessened requirements for its clients. We will recommend our partner banks and apply for the bank account on your behalf. This bank account can be in available currency, most commonly IDR or USD.
Talk to us now, and we will advise you on how to open a bank account in Indonesia efficiently.
Holding 11 years of experience in various roles, including project manager, operational manager, and corporate strategist, David Susandi is a prominent figure for many entrepreneurial organizations expanding in Indonesia.