PT PMA Minimum Capital in Indonesia: The Real Numbers
Published 23 September 2026. Reading time: 9 minutes. By The Indonesian Lawyer.
The PT PMA minimum capital in Indonesia is IDR 10 billion per business classification code (KBLI), and this applies to planned investment, not cash sitting in a bank account. Of that IDR 10 billion, at least 25%, or IDR 2.5 billion, must be paid up as actual issued capital at incorporation. Some sectors and some regions set higher or lower thresholds, and a company with more than one business line multiplies the requirement by each additional KBLI code. We explain where the number comes from, where it does not apply, and where founders get the paperwork wrong.
Table of Contents
- What a PT PMA actually is
- The IDR 10 billion figure, explained properly
- Paid-up capital: what has to move and when
- Sector and location differences
- Proving the capital to the authorities
- Where founders go wrong
- Worked example: setting up in Semarang
- FAQ
What a PT PMA actually is
A PT PMA (Perseroan Terbatas Penanaman Modal Asing) is a limited liability company with any percentage of foreign shareholding, from one share up to full foreign ownership depending on the sector. It is registered through Indonesia's online licensing system, OSS (Online Single Submission), which sits under the Ministry of Investment and Downstream Industries, the body most people still call BKPM out of habit. A PT PMA is the only structure that lets a foreign national or foreign company legally hold shares, sponsor a KITAS work visa for its directors, and sign commercial contracts in its own name in Indonesia.
It is not the same as a PT lokal (100% Indonesian-owned company), which has no minimum capital tied to foreign investment law and is generally cheaper and faster to set up, but cannot have a foreign shareholder on the deed.
The IDR 10 billion figure, explained properly
IDR 10 billion, roughly USD 620,000 to 650,000 depending on the exchange rate on the day, is the standard minimum investment value the OSS system expects per five-digit KBLI code, per project location. This is not cash you need to show a bank teller before you can register. It is a statement of planned investment: the value of the business you say you are building, including future capital expenditure, working capital, and in some interpretations the value of assets like equipment or leasehold improvements over time. It does not have to exist in full on day one. If your company operates under two KBLI codes, for example general trading and a separate hospitality classification, the system in most cases expects IDR 10 billion committed to each, so total planned investment can climb quickly for multi-line businesses. This catches people who assume one company registration covers unlimited business activities for one flat number.
Paid-up capital: what has to move and when
Paid-up capital is different from the IDR 10 billion planned investment figure, and this is where most confusion sits. Paid-up capital is the portion of issued share capital that shareholders actually inject into the company's bank account, and it must be at least 25% of the stated capital, which works out to a minimum of IDR 2.5 billion, around USD 155,000 to 162,000.
This money has to land in the PT PMA's own corporate bank account, opened after the deed of establishment is signed, and a bank statement or reference letter confirming the deposit is part of the documentation the notary and the licensing system will eventually ask for. It does not need to be deposited on the exact day of incorporation in every case, but it needs to be in place before the company applies for its business license (NIB) activation for regulated sectors, and lenders, immigration officers reviewing a director's KITAS sponsorship, and auditors will all expect to see it eventually.
| Requirement | Amount (IDR) | Approx. USD | When it applies |
|---|---|---|---|
| Total planned investment per KBLI code | 10,000,000,000 | 620,000 to 650,000 | Stated at registration, built up over the investment period |
| Minimum paid-up capital | 2,500,000,000 | 155,000 to 162,000 | Injected into the corporate bank account, verified before licensing is finalised |
| Minimum nominal share value per shareholder | 10,000,000 | 620 to 650 | Set out in the deed of establishment, varies by structure |
| Small-scale KBLI exceptions | Varies, sometimes below 10 billion | Varies | Specific KBLI codes classified as micro, small, or medium enterprise |
Sector and location differences
The IDR 10 billion figure is the default under national investment regulation, but it is not universal. A handful of KBLI codes are classified as small or medium scale and carry a lower threshold, this mostly affects certain trading and services activities with narrower scope. On the other end, sectors like mining, oil and gas, and large-scale manufacturing frequently carry sector-specific capital requirements well above IDR 10 billion, set by the relevant technical ministry rather than the general investment rule. Location can matter too. Special economic zones and some free trade zones apply different investment thresholds to attract capital into specific regions, and this can work in a founder's favour if the business genuinely fits the zone's designated sectors. None of this is something to guess at. The correct threshold depends on the exact KBLI code selected, and choosing the wrong code, or a code that is technically accurate but commercially unhelpful, is one of the most common structuring mistakes we see, in Java as much as anywhere else in the country.
Proving the capital to the authorities
Registering a PT PMA is not just picking a number and writing it in a deed. The authorities want to see it demonstrated, and the standard package includes:
- A shareholders' statement confirming the source and amount of capital committed to the company.
- A corporate bank account opened in the PT PMA's name, with a deposit reflecting at least the 25% paid-up requirement.
- A bank reference letter or account statement submitted as supporting evidence during licensing.
- Consistency between the capital stated in the deed of establishment, the figure entered into OSS, and the actual bank records, because a mismatch between these three documents is the single fastest way to trigger a query or delay from the licensing system.
For company registration procedure and the full document checklist, our PT PMA company registration in Indonesia page walks through the sequence step by step.
The most expensive mistake: registering under a KBLI code that does not match what the business actually does, to get a lower capital figure or faster approval, then discovering the company cannot legally invoice for its real activity. Fixing this after incorporation means amending the deed, re-filing with the licensing system, and in some cases re-doing the capital proof from scratch. It is far cheaper to get the classification right before the notary drafts anything.
Worked example: setting up in Semarang
A foreign investor opening a trading company in Semarang, say a business sourcing furniture or textiles from Central Java for export, needs to state the same IDR 10 billion planned investment and deposit the same IDR 2.5 billion paid-up capital as an identical business in Jakarta or Surabaya. The national figures do not change by city. What changes locally is the practical side: which notary is available to draft and legalise the deed, how the regional OSS liaison handles supporting documents, and where the company's registered office needs to sit for zoning purposes, commonly around business districts near Simpang Lima or the Tembalang and Banyumanik commercial corridors where office space and virtual office providers are easier to find than in residential areas. A registered office lease agreement or a domicile letter from the building management is typically needed before the deed can be finalised, and this applies whether the company sits in Semarang, Medan, Makassar, or Jakarta itself. The paperwork sequence is national. The local logistics, notary availability, and office sourcing are where a company with people on the ground in that city saves weeks compared to trying to coordinate everything remotely.
FAQ
What is the minimum capital for PT PMA in Indonesia?
The minimum capital for a PT PMA in Indonesia is IDR 10 billion in planned investment per KBLI business classification code, of which at least 25%, or IDR 2.5 billion, must be paid up as actual capital deposited into the company's bank account. Some specific sectors and small-scale business classifications carry different thresholds, so the exact figure should be confirmed against the KBLI code before incorporation.
Does the full IDR 10 billion need to be in the bank before registration?
No. The IDR 10 billion is a statement of total planned investment, not cash that must sit in an account on day one. Only the 25% paid-up portion, IDR 2.5 billion, needs to be deposited into the PT PMA's corporate bank account, and this is generally required before the company's business license is fully activated, not necessarily on the incorporation date itself.
Can a PT PMA be set up with less than IDR 10 billion?
Some KBLI codes classified as small or medium scale carry a lower investment threshold than the standard IDR 10 billion. Outside of those specific classifications, structuring around the requirement by understating the business activity or partnering informally with a local entity creates legal risk, including possible nominee arrangement issues, and should only be done with proper legal structuring, not as a workaround.
What happens if a PT PMA has more than one business activity?
If a company registers under more than one KBLI code, the IDR 10 billion planned investment requirement generally applies per code, per location, meaning total stated investment can rise significantly for businesses with multiple activities. This is a common point where founders underestimate their capital obligations, so each intended business line should be checked against the requirement before the deed is drafted.
Is the capital requirement the same in every Indonesian city?
Yes, the IDR 10 billion and 25% paid-up figures come from national investment regulation and apply the same way in Jakarta, Surabaya, Semarang, Medan, Batam, or anywhere else in Indonesia. What differs by city is practical: notary availability, registered office costs, and how quickly local licensing offices process supporting documents, not the capital thresholds themselves.
What documents prove the capital was actually paid in?
Proof of paid-up capital typically includes a shareholders' statement confirming the amount and source of funds, a corporate bank account opened in the PT PMA's name, and a bank statement or reference letter showing the deposit. These figures must match what is written in the deed of establishment and what is entered into the OSS licensing system, since inconsistency between the three is a common cause of delay.
If you are working out the right capital structure and KBLI classification for a PT PMA anywhere in Indonesia, from Jakarta to Semarang to Batam, send the details of your business plan to The Indonesian Lawyer on WhatsApp at +62 877-9626-0478 or through our contact page. The first consultation is free, and we will tell you plainly whether your intended structure meets the requirement before you sign anything with a notary.