A company in Indonesia may not be owned just by one person. So, in order to do business in Indonesia, they need a partner to set up a company.
Once the foreigners have at least 1 partner and decide their business, they can register their company with just their passports.
Since G20 2022, Indonesia has relaxed and allow foreigners to have full ownership of many businesses so there will be no issue with Indonesian partners.
To live in Indonesia, there are several ways. The two most favourites are by having an Investor KITAS or with a second home visa. We can assist you in applying for both.
Each of the permits have different requirements, if you are an investor of a company, you need to only show the company bank account balance.