Your Business Account in Indonesia 🇮🇩

Yes, foreigners can open a business bank account in Indonesia but only for a locally-registered business. The process usually requires providing necessary documents such as a valid passport, proof of legal residency or visa, company registration documents, and a tax identification number (NPWP). It's advisable to consult with the chosen bank for their specific requirements and procedure

The requirements for opening a corporate bank account in Indonesia can vary among banks. However, common conditions typically include an initial deposit of IDR 1 million, copies of identification documents for Indonesian citizens or foreign individuals, copies of business permits and proof of identity for individual businesses, copies of tax identification numbers (NPWP), deeds of establishment, articles of association for non-individual businesses, monthly account administration fees, business licenses, and domicile letters.

The availability of online business bank account opening in Indonesia may vary depending on the bank. In most cases, the opening of a corporate account will require personal submission of the documents by one of the company’s directors or shareholders.

Opening a business bank account in Indonesia can involve some paperwork and specific requirements, but the level of difficulty may vary depending on factors such as the chosen bank and individual circumstances.