Opening a bank account for a PT PMA in Indonesia is a regulated process that can only be completed after your company is legally incorporated and fully compliant with Indonesian corporate, tax, and immigration rules. Banks in Indonesia act as compliance gatekeepers. They verify your legal status through the OSS system, confirm your business address, and assess the residency status of your directors, including KITAS ownership for foreign nationals.
This requirement is not optional. Without meeting these conditions, a PT PMA cannot activate financial operations, receive capital injections, or transact legally in Indonesia.
Legal Prerequisites Before Bank Account Opening
Before approaching any bank, your PT PMA must be fully established under Indonesian law. This means the Deed of Establishment must be notarized and approved by the Ministry of Law and Human Rights. The company must also be registered through OSS to obtain its NIB and NPWP.
From a banking perspective, these documents prove that your company legally exists, has a recognized business activity, and is registered with the tax authority. Without them, banks will not proceed to verification.
Foreign directors must also hold a valid KITAS. In practice, banks will refuse applications where the authorized signatory is a foreigner without legal stay and work status in Indonesia.
Required Documents for PT PMA Bank Accounts
To open a corporate bank account for a PT PMA in Indonesia, banks require a complete set of legal and administrative documents for compliance verification. You should prepare the following:
Deed of Establishment (Akta Pendirian)
- Notarized deed approved by the Ministry of Law and Human Rights.
- Confirms the legal existence and ownership structure of the PT PMA.
Business Identification Number (NIB)
- Issued through the OSS system.
- Functions as the company’s primary business registration and licensing reference.
Tax Identification Number (NPWP)
- Company tax registration required for all banking and financial activities.
Business Domicile Letter
- Proof of a registered business address in Indonesia.
- Can be supported by a lease agreement, ownership certificate, or compliant business address service.
- Indonesian directors: KTP.
- Foreign directors and shareholders: passport copies.
- Foreign directors must provide a valid KITAS.
Business License (if applicable)
- Certain regulated sectors may require additional operational licenses linked to the NIB.
Power of Attorney
- Required if the account is opened by an authorized representative rather than the director.
Supporting Corporate Documents (if requested)
- Board resolution approving account opening.
- Tax registration certificate (SKT) or other compliance documents, depending on bank policy.
Original documents are typically required for in-person verification, though some banks allow supervised video verification if the director is overseas.
Also read: Does a PT PMA Company Need Indonesian Shareholders and Employees?
Step-by-Step Bank Account Opening Process for PT PMA
Once all documents are ready, the corporate bank account opening process generally follows these steps:
Select the Appropriate Bank
- Choose based on operational needs such as multi-currency services, international transfers, and fee structure.
- Common options include BCA, Mandiri, BRI, and HSBC.
Schedule Account Opening Appointment
- Arrange a branch visit or video verification session.
- The director or authorized signatory must participate.
Submit Application and Documents
- Provide complete corporate and personal documentation.
- Sign account opening forms and declarations.
Bank Compliance and Due Diligence Review
- The bank conducts internal verification, including company legitimacy, director status, and business activity review.
- This stage usually takes two to three working days.
Initial Deposit Placement
- Deposit the required initial balance.
- Typically ranges from IDR 1 to 50 million or around USD 1,000, depending on the bank.
Account Approval and Activation
- Upon approval, the bank activates the corporate account.
- Internet banking and transaction facilities are enabled within seven to fourteen days.
Ongoing Compliance Monitoring
- Banks continue to monitor transactions to ensure alignment with licensed business activities and regulatory requirements.
Costs, Timelines, and Compliance Considerations
Most PT PMA bank accounts require a minimum balance of around IDR 10 million and monthly administrative fees. From start to finish, the entire process usually takes one to four weeks, assuming documents are complete and compliant.
Banks closely monitor transactions, especially for foreign-owned companies. Maintaining proper records and aligning transactions with your licensed business activities is essential to avoid compliance flags.
For a deeper regulatory explanation, we recommend reviewing our detailed guide on Bank Account Regulations for Companies in Indonesia and our practical Bank Account Opening Guide, which break down bank compliance expectations step by step.
Why Many Foreign Investors Face Delays
In our experience, delays often stem from incomplete OSS licensing, lack of a compliant business address, or foreign directors applying without KITAS. These issues are procedural, not discretionary, and banks apply them consistently.
Understanding this structure early helps you avoid rejections and unnecessary revisions.
How We Support PT PMA Bank Account Setup
As an expert team working closely with foreign investors, we help you align company incorporation, business address, immigration status, and banking readiness into one compliant structure. Through InvestinAsia’s Special Package for PT PMA, we support company establishment, provide a valid business address, assist with bank account opening, and arrange KITAS for foreign directors.
This integrated approach ensures your PT PMA is operationally ready, not just legally registered.
or contact our experts for FREE consultation.
Frequently Asked Questions
Can a PT PMA open a bank account before incorporation?
No. Banks require a fully incorporated PT PMA with approved OSS registration, NIB, and NPWP before processing applications.
Is KITAS mandatory for foreign directors?
Yes. Foreign directors must hold a valid KITAS to act as authorized signatories for corporate bank accounts.
How long does the bank account opening process take?
Typically one to four weeks, depending on document readiness and bank verification timelines.
What is the minimum initial deposit?
It varies by bank but generally ranges from IDR 1 to 50 million or around USD 1,000.
Can I open the account remotely from overseas?
Some banks allow video verification, but original documents and KITAS compliance are still required.
