To set up a PT PMA in Bali in 2026 you need at least two shareholders, one director with an Indonesian tax number, one commissioner, a physical business address in Bali, a business activity (KBLI) that is open to foreign investment and not on Bali’s closed list, and paid-up capital of IDR 2.5 billion with an investment plan of more than IDR 10 billion per business line. The documents are the shareholders’ passports or company papers, proof of address and the signed deed. This page lists each requirement and what to prepare. For the order in which it all happens, read the step by step setup process.

Key takeaways

  • Two shareholders, one director, one commissioner. A person cannot be both director and commissioner.
  • The director must hold an Indonesian tax number, which usually means a KITAS or KITAP.
  • A virtual office is no longer accepted in Bali. The address must be a real place of business that fits the activity’s zoning.
  • Capital: IDR 2.5 billion paid-up, and an investment plan above IDR 10 billion per KBLI per location. The investor KITAS has its own IDR 10 billion share requirement.

Shareholders

A PT PMA needs a minimum of two shareholders. They can be foreign or Indonesian individuals, or companies. A foreign company can hold the shares, which is how a group opens an Indonesian subsidiary.

Who holds the shares matters for three reasons. It changes the withholding tax on dividends, depending on the shareholder’s country and any tax treaty. It decides which stay permit the founders can apply for: a shareholder with at least IDR 10 billion of shares in their own name can apply for an investor KITAS, while a founder with a smaller shareholding, or a director who is not a shareholder, uses a working KITAS. And it decides how the company is sold or passed on later, because a PT PMA is transferred by transferring its shares.

Documents: passport of each individual shareholder (valid for at least 18 months is advisable), or the registration documents of a corporate shareholder, legalised where required.

pt pma requirements

Director

The director runs the company and is personally responsible for its filings. The director must be an individual, must be registered as the person in charge towards the tax office in Coretax, and must therefore hold an Indonesian tax number (NPWP). A foreigner obtains an NPWP once they hold a stay permit, so in practice the first director is either an Indonesian resident or a foreigner who obtains a KITAS. A foreign director does not need to be Indonesian.

A foreign director who is also a shareholder with IDR 10 billion in shares can hold an investor KITAS sponsored by the company. Otherwise the company applies for a working KITAS for the director, which requires a foreign worker utilisation plan (RPTKA).

Commissioner

The commissioner represents the shareholders and supervises the director. The commissioner approves certain decisions, signs certain documents together with the director, and can call a general meeting of shareholders. The commissioner does not manage the company day to day and can only step in temporarily if no director is able to act. A PT PMA needs at least one commissioner, who can be foreign or Indonesian and does not need a tax number unless they are paid.

Directors and commissioners are appointed and dismissed by the shareholders in a general meeting. When one resigns, the shareholders have 30 days to appoint a replacement.

Business activity (KBLI)

Every activity the company will carry out must be listed as a five digit KBLI code in the deed and the NIB. Each code is checked against two things:

  • The Positive Investment List (Presidential Regulation No. 10 of 2021, amended by No. 49 of 2021), which sets whether foreigners can own the activity, with what maximum share, and whether a partner or a minimum scale is required.
  • Bali’s 2026 restriction. Since the third week of May 2026, 18 KBLI codes are closed to new PT PMA applications in Bali: hotels under 6,000 m², other accommodation, real estate, cafes and bars, car and motorcycle rental, management consulting, several retail categories, tailoring, gyms, stadiums and sports promoters. The full list is in our closed business lines article.

Each code also carries a risk level that decides the licensing after the NIB:

Risk level Requirement after NIB
Low None, the NIB is the licence
Medium-low Standard certificate, self-declared
Medium-high Standard certificate, verified by the relevant ministry or agency
High Permit from the relevant authority

Choose only the codes you will actually use. Each code adds to the investment commitment and can add licensing steps.

Also Read : Understanding PT PMA And Indonesia Corporate Tax

Company address

The company must be registered at a real place of business. Since 2026 Bali no longer accepts a virtual office as the registered address of a PT PMA, and companies that still use one are being reviewed. The address also has to fit the activity: a restaurant cannot be registered at a residential villa, and some activities need an address with a certificate of fit function (SLF). The address determines which tax office handles the company, so register where you operate.

Documents: lease agreement or ownership certificate for the premises, and a domicile letter where the local authority requires one.

Capital

Under BKPM Regulation No. 5 of 2025, in force since 2 October 2025, the minimum paid-up capital of a PT PMA is IDR 2.5 billion, reduced from the previous IDR 10 billion. The capital is deposited in the company’s bank account after incorporation and is expected to remain in the company for at least twelve months unless it is used for the company’s own investments or operations, which must be documented.

Separately, the company commits to a total investment plan of more than IDR 10 billion for each KBLI code at each location, excluding land and buildings. This is not deposited up front. It is the amount the company plans to invest over time and reports against in its quarterly LKPM. Some sectors set higher minimums.

The investor KITAS is a different test again: the applicant must personally hold at least IDR 10 billion in shares. A company with IDR 2.5 billion of capital cannot sponsor an investor KITAS, so founders who want that permit structure the capital accordingly from the start.

Documents checklist

  • Passport copy of each foreign shareholder, director and commissioner
  • KTP and NPWP of each Indonesian shareholder, director or commissioner
  • Registration documents of any corporate shareholder
  • Chosen company name (three words minimum) and two alternatives
  • List of KBLI codes with the activity description
  • Proof of the business address (lease or certificate)
  • Capital structure: authorised, issued and paid-up capital, and the split between shareholders
  • Email and Indonesian phone number for OSS and Coretax
  • Power of attorney if the deed is signed on your behalf

After the company exists

  • Deposit the paid-up capital and keep the bank evidence
  • Verify the standard certificate or obtain the permit for each activity
  • File quarterly LKPM reports, monthly tax returns and the annual return, even with no income
  • Register with BPJS
  • Hold a shareholders’ meeting at least once a year

Need the requirements checked for your case?

Send us your activity, your shareholders and your address and we will confirm what applies to you, including whether your business line is open in Bali in 2026. Book a consultation, or read how the setup process works step by step.

Frequently asked questions

How many shareholders does a PT PMA need?

At least two. They can be individuals or companies, foreign or Indonesian. A single foreign company can hold the shares together with one more shareholder.

Does the director of a PT PMA have to be Indonesian?

No. The director can be foreign, but must hold an Indonesian tax number, which means a stay permit. The company can sponsor a working KITAS or, if the director holds IDR 10 billion in shares, an investor KITAS.

Can I use a virtual office for a PT PMA in Bali?

Not any more. Bali stopped accepting virtual offices as the registered address of a PT PMA in 2026. You need a physical business address that fits the activity’s zoning.

What is the minimum capital for a PT PMA in 2026?

IDR 2.5 billion paid-up capital under BKPM Regulation No. 5 of 2025, with an investment plan of more than IDR 10 billion per business line per location, excluding land and buildings. Some sectors require more.

Is there a list of businesses foreigners cannot open in Bali?

Yes. Since May 2026, 18 KBLI codes are closed to new PT PMA applications in Bali. See our closed business lines article for the full list. Outside Bali, the national Positive Investment List applies.