In Indonesia, individuals and businesses have the right to open a bank account. This includes people looking for financial options and companies with financial goals. The Indonesian bank account is one of the essential rules imposed on foreign investors for doing business in Indonesia.
InCorp Indonesia simplifies the path to opening a bank account and elevates it into a personalized and proficient service where your financial ambitions find a fitting foundation.
How Foreigners Open Bank Accounts in Indonesia
| Types | Description |
|---|---|
| Corporate entity | As a necessary part of starting a foreign company, you must open a particular business bank account. This account must be with a bank that can handle money from other countries, a Foreign-Exchanged Bank, or Bank Devisa. You can set up this bank account after all the paperwork is done to start the company. But sometimes, you can begin the bank account process while working on the paperwork. However, not all banks offer this option. |
| Foreign individual | Various banks have their own rules, but having a stay permit (either temporary or permanent) is a must. Only ITAS or ITAP foreign individuals in Indonesia are allowed to open bank accounts. Understanding the Indonesian regulations is crucial because, apart from ITAS or ITAP, you’ll also need to gather additional documents to meet the bank’s requirements. |
Common Bank Accounts in Indonesia
Savings Account
- Frequently used account that allows real-time transfers
- ATM card
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Checking Account
- Payments via checks or giro (demand deposit)
- Delayed payment by retroactive checks
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Deposit Account
- Higher interest rates
- Deposits are withdrawn based on an agreement between a client and a bank
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Open a Bank Account in Indonesia with InCorp
| Types | Description |
|---|---|
| Registration of a corporate account from overseas |
Our partnership with banks makes it possible to open an account while in another country. Once you give us the needed papers, InCorp Indonesia will handle everything to set up your account. |
| Open a bank account in Indonesia before company registration |
To save you time, InCorp Indonesia can start opening a business bank account while we finish setting up your foreign-owned company. |
