Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to Bank Indonesia's licence, including banking and payment rails.
Get a payment license in Indonesia.
Bank Indonesia licenses payment service providers under PBI No. 23/6/PBI/2021, in three categories with paid-up capital of IDR 15 billion, IDR 5 billion and IDR 500 million - IDR 1 billion where a category-three provider also supplies the system. Categories one and two have to be a perseroan terbatas, and every provider needs at least 15% Indonesian shareholding and 51% domestic control of the voting shares. The central bank reviews the paperwork for five business days and the substance for twenty, then visits. From 31 March 2026 PBI No. 10 of 2025 replaces the three categories with activity bundles and prices a payment system infrastructure operator at IDR 100 billion.
27 yrs
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Licenses obtainedlicenses obtained
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Indonesia in brief
Three licence categories until March 2026, activity bundles after it.
Bank Indonesia regulates payment service providers - Penyedia Jasa Pembayaran - under PBI No. 23/6/PBI/2021, with PBI No. 22/23/PBI/2020 above it and PADG No. 24/7/PADG/2022 of 30 June 2022 below. Article 12 sorts the licence into three categories by activity. Category one covers administration of the source of funds, provision of source-of-funds information, payment initiation and acquiring, and remittance. Category two covers source-of-funds information plus payment initiation and acquiring. Category three covers remittance and other activities. Article 24(2) sets the paid-up capital: IDR 15 billion for category one, IDR 5 billion for category two, IDR 500 million for category three, and IDR 1 billion where that provider also supplies the system. Article 16(2) requires a non-bank applicant in categories one and two to be a perseroan terbatas. Two ownership tests apply to all of them: at least 15% of the shares held by Indonesian citizens or Indonesian legal entities under Article 19(2), and at least 51% of the voting shares in domestic hands under Article 20(1), a rule that reaches director appointments and veto rights as well.
The replacement is already published. PBI No. 10 of 2025 takes effect on 31 March 2026 and rebuilds the categories into activity bundles - Paket 1, split into 1A for main payment service providers and 1B, then Paket 2 and Paket 3 - under Articles 34 and 35. Article 44 keeps paid-up capital in a range of IDR 500 million to IDR 15 billion by bundle, restates the 15% and 51% tests, and prices a payment system infrastructure operator at IDR 100 billion. Licensing itself is short on paper: a pre-consultative meeting, five business days of administrative review, twenty business days of substantive analysis under Article 35(2), and an on-site visit, against four groups of requirements the central bank publishes - institutional, capital and finance, risk management, and information-system capability. Electronic money balances are capped by Article 22 of PADG 24/7/2022 at IDR 2 million for an unregistered instrument and IDR 20 million for a registered one. QRIS is the national QR standard and BI-FAST the instant rail, most recently amended by PADG No. 3 of 2026. Corporate tax is 22%, dividends to non-residents carry 20%, and VAT is 12% by statute but 11% in effect on non-luxury supplies.
PBI No. 23/6/PBI/2021 licenses payment service providers in three categories. Article 24(2) sets paid-up capital at IDR 15 billion, IDR 5 billion and IDR 500 million, or IDR 1 billion where the provider also supplies the system. Categories one and two must be a perseroan terbatas under Article 16(2).
At least 15% of shares Indonesian and 51% of voting shares domestic (Articles 19 and 20). Five business days administrative, twenty substantive (Article 35(2)), then an on-site visit. Wallet caps IDR 2 million and IDR 20 million. PBI No. 10 of 2025 brings activity bundles from 31 March 2026.
The routes
Category one, or the lighter categories - and the bundles that replace them.
The licence is one licence; what changes is the activity list, and with it the capital. We settle the activities first, then decide whether to file under the current categories or build straight to the 2026 bundles.
One licence in three categories, re-sorted into activity bundles from March 2026.
01 - PJP CATEGORY ONE
Kategori izin satu - IDR 15 billion
The full activity set under Article 12: administration of the source of funds, provision of source-of-funds information, payment initiation and acquiring, and remittance. Paid-up capital is IDR 15 billion under Article 24(2), and a non-bank applicant has to be a perseroan terbatas.
The full activity set under Article 12: administration of the source of funds, provision of source-of-funds information, payment initiation and acquiring, and remittance. Paid-up capital is IDR 15 billion under Article 24(2), and a non-bank applicant has to be a perseroan terbatas.
- ✓Paid-up capital IDR 15,000,000,000 (Article 24(2))
- ✓Source-of-funds administration and information
- ✓Payment initiation and acquiring services
- ✓Remittance services
- ✓Perseroan terbatas required (Article 16(2))
- ✓15% Indonesian shares · 51% domestic voting control
02 - CATEGORIES TWO AND THREE
IDR 5 billion or IDR 500 millionKategori izin dua and tiga
Category two covers source-of-funds information plus payment initiation and acquiring, on IDR 5 billion. Category three covers remittance and other activities on IDR 500 million, or IDR 1 billion where the provider also supplies the system. From 31 March 2026 both are re-sorted into the PBI 10/2025 bundles.
Category two IDR 5 billion; category three IDR 500 million, or IDR 1 billion where the provider supplies the system; bundles from 31 March 2026.
- ✓Category two - IDR 5,000,000,000 paid-up capital
- ✓Category three - IDR 500,000,000 paid-up capital
- ✓IDR 1,000,000,000 where the provider supplies the system
- ✓Perseroan terbatas required for category two
- ✓Bundles Paket 1A, 1B, 2 and 3 from 31 March 2026
- ✓Payment system infrastructure operator - IDR 100 billion
Costs and timelines are confirmed for your case before any work begins. The central bank publishes no licensing fee, so state charges, the shareholder structure and substance are itemised in your quote.
Why Indonesia
The region's largest population of wallet users, on rules that print their own numbers.
Indonesia writes its payment rules as central bank regulations, which makes them short, numbered and quotable. The next rulebook is published two years before it bites, so a file built now can be built for both.
✓
Capital by category
IDR 15 billion for category one, IDR 5 billion for category two, IDR 500 million for category three and IDR 1 billion where that provider also supplies the system.IDR 15bn, 5bn or 500m.
✓
A short statutory clock
Five business days of administrative review and twenty business days of substantive analysis under Article 35(2), with the on-site visit closing the assessment.Five plus twenty business days.
✓
Wallet caps written down
IDR 2 million on an unregistered electronic money instrument and IDR 20 million on a registered one, under Article 22 of PADG 24/7/2022.IDR 2 million and IDR 20 million.
✓
QRIS and BI-FAST
The national QR standard and the central bank's instant rail, both with their own participant registers. Product design starts from which one carries the volume.National QR and instant rail.
✓
The 2026 rulebook is already out
PBI No. 10 of 2025 comes into force on 31 March 2026 with bundles Paket 1A, 1B, 2 and 3, capital from IDR 500 million to IDR 15 billion and IDR 100 billion for an infrastructure operator.PBI No. 10 of 2025 published.
✓
The ownership test, stated plainly
At least 15% Indonesian shareholding and 51% domestic voting control, extending to director appointments and veto rights. Know it before you budget the partner, not after.15% Indonesian, 51% domestic.
How it compares
How Indonesia differs from the other Southeast Asian routes.
Indonesia has the fastest clock and the lowest entry capital in this group, and the only domestic-control rule. The honest comparison is below.
Indonesia vs other jurisdictions
| Feature |  Indonesia | Other jurisdictions |
|---|---|---|
| Capital | IDR 15bn / 5bn / 500m by category | THB 100M in Thailand, PHP 100-200M in the Philippines |
| Ownership | 15% Indonesian shares · 51% domestic voting control | No ownership cap found in Thailand |
| Decision clock | 5 + 20 business days | 60 business days in Thailand |
| Wallet caps | IDR 2M unregistered · IDR 20M registered | None printed in Thailand |
Capital
IndonesiaIDR 15bn / 5bn / 500m by category
Other jurisdictionsTHB 100M in Thailand, PHP 100-200M in the Philippines
Ownership
Indonesia15% Indonesian shares · 51% domestic voting control
Other jurisdictionsNo ownership cap found in Thailand
Decision clock
Indonesia5 + 20 business days
Other jurisdictions60 business days in Thailand
Wallet caps
IndonesiaIDR 2M unregistered · IDR 20M registered
Other jurisdictionsNone printed in Thailand
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Indonesia | PJP licence (Bank Indonesia) | 22% · VAT 11% effective | IDR 15bn / 5bn / 500m · 51% domestic control |
 Thailand | Licence / registration (BOT · MOF) | 20% · 15% small | THB 100M e-money · 60 business days |
 Philippines | EMI (BSP) | 25% · 20% small | PHP 100-200M, trust at least 50% |
 Malaysia | E-money (BNM) | 24% CIT | Trust account, 2025 PD |
IndonesiaLicense typePJP licence (Bank Indonesia)
Taxation22% · VAT 11% effective
RequirementsIDR 15bn / 5bn / 500m · 51% domestic control
ThailandLicense typeLicence / registration (BOT · MOF)
Taxation20% · 15% small
RequirementsTHB 100M e-money · 60 business days
PhilippinesLicense typeEMI (BSP)
Taxation25% · 20% small
RequirementsPHP 100-200M, trust at least 50%
MalaysiaLicense typeE-money (BNM)
Taxation24% CIT
RequirementsTrust account, 2025 PD
Before you apply
Requirements for the Bank Indonesia licence.Requirements for the licence.
PBI 23/6/PBI/2021 sets the categories, the capital and the ownership tests; PADG 24/7/PADG/2022 sets the product limits; PBI No. 10 of 2025 changes the sorting from 31 March 2026. The checklist below is what a passing file contains.
01
A perseroan terbatas for a non-bank applicant in category one or category two, under Article 16(2) of PBI 23/6/PBI/2021.
02
Paid-up capital at the Article 24(2) figure: IDR 15 billion for category one, IDR 5 billion for category two, IDR 500 million for category three and IDR 1 billion where that provider also supplies the system.
03
At least 15% of the shares held by Indonesian citizens or Indonesian legal entities, with the ownership structure self-assessed every year under Article 19.
04
At least 51% of the voting shares in domestic hands under Article 20, with the same majority behind director appointments and veto rights.
05
A pre-consultative meeting with the central bank before the file goes in, which is where the activity list and the category are settled.
06
Documentation against the four requirement groups the central bank publishes: institutional, capital and finance, risk management, and information-system capability.
07
A file complete enough to pass the five-business-day administrative review, since the twenty-business-day substantive analysis of Article 35(2) only starts after that.
08
Readiness for the on-site visit that closes the assessment, with the systems and the premises in the state the file describes.
09
Electronic money products built to the PADG 24/7/2022 caps of IDR 2 million unregistered and IDR 20 million registered.
10
A plan for PBI No. 10 of 2025, in force from 31 March 2026, which re-sorts the categories into activity bundles, prices a payment system infrastructure operator at IDR 100 billion and restricts ownership changes at newly licensed entities for five years.
01
Perseroan terbatas for categories one and two.
02
Capital IDR 15bn / 5bn / 500m (Art. 24(2)).
03
15% Indonesian shareholding (Art. 19).
04
51% domestic voting control (Art. 20).
05
Pre-consultative meeting before filing.
06
Institutional, capital, risk, IT documentation.
07
File complete for the 5-day review.
08
Ready for the on-site visit.
09
Wallet caps IDR 2M and IDR 20M.
10
Plan for PBI No. 10 of 2025 from 31 March 2026.
Reflects PBI No. 23/6/PBI/2021, PBI No. 22/23/PBI/2020, PADG No. 24/7/PADG/2022 and PBI No. 10 of 2025 (in force 31 March 2026), as of 2026.PBI No. 23/6/PBI/2021; PBI No. 22/23/PBI/2020; PADG No. 24/7/PADG/2022; PBI No. 10 of 2025.
How it works
From first call to the BI licence.
01
Activities and category
Which activities you will run, therefore category one, two or three and the capital that goes with it - fixed in writing.Category one, two or three.
02
Company and shareholders
Perseroan terbatas formed, capital paid up, and the 15% Indonesian and 51% domestic voting tests met in the share register.PT formed; 15% and 51% met.
03
Pre-consultative meeting and file
The meeting with the central bank, then the institutional, capital, risk-management and information-system documentation filed.Pre-consultative meeting, then filing.
04
BI review
Five business days of administrative review, twenty of substantive analysis, then the on-site visit - plan on six to nine months end to end.5 + 20 business days; on-site visit.
05
Licence and launch
Entry on the register of licensed institutions, QRIS and BI-FAST participation arranged, and the 2026 bundle transition mapped.Register entry; QRIS and BI-FAST.
Quick facts
RegulatorBank Indonesia
LawPBI 23/6/PBI/2021 · PBI No. 10 of 2025
CategoriesOne · two · three (bundles from 2026)
CapitalIDR 15bn / 5bn / 500m
Ownership15% Indonesian · 51% domestic
Decision5 + 20 business days
Timeline6-9 months realistic
Corporate tax22% · VAT 11% effective
Five business days and twenty business days are short by any standard, and both start only once the file is declared complete. The pre-consultative meeting is where that is decided.
Your Indonesia desk
Run from our Asia-Pacific desk.
Prifinance - Asia-Pacific desk
Dubai · coordinating Indonesian mandates
33 Level, Al Saqr Business Tower, Dubai
01
Indonesian company formation
A perseroan terbatas with paid-up capital at the category figure and a shareholder register that meets the 15% and 51% tests from day one.PT, capital, share register.
02
The BI file
Institutional, capital, risk-management and information-system documentation, taken through the pre-consultative meeting before it is filed.Four requirement groups answered.
03
Products and caps
Wallet design against the IDR 2 million and IDR 20 million limits, with QRIS and BI-FAST participation planned alongside the licence.Wallets, QRIS, BI-FAST.
04
Substance in Indonesia
Directors, a compliance function and premises in Jakarta, with the on-site visit prepared for rather than improvised.Directors, compliance, Jakarta premises.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Indonesia.
Corporate income tax at 22%, turnover reliefs for smaller companies, VAT that is 12% by statute and 11% in effect on non-luxury supplies, and 20% withholding on dividends to non-residents.
Corporate tax 22%
The standard rate under Article 17(1)(b) of the harmonised tax law, and the rate a licensed payment service provider will pay on its profit.Standard rate on profit.
Listed company 19%
A domestic listed company with at least 40% of its shares traded on an Indonesian exchange pays 19% under Article 17(2)(b).With a 40% free float.
Turnover reliefs
Article 31E halves the rate on the qualifying part of gross turnover between IDR 4.8 billion and IDR 50 billion, giving 11%; turnover up to IDR 4.8 billion carries a 0.5% final tax on monthly revenue.0.5% final up to IDR 4.8bn.
VAT 12% statutory, 11% effective
Since 1 January 2025 the statutory rate is 12%, but a ministerial regulation applies an 11/12 base to non-luxury goods and services, so the effective rate is 11%. Luxury-taxed goods pay 12%.Effective 11% on non-luxury.
Dividends 20%
Article 26 withholding on dividends, interest and royalties paid to non-residents, or the treaty rate where one applies.Or the treaty rate.
Payroll
Salaries and contributions on Jakarta hires - the operating budget prices them in with the compliance function.Salaries + contributions.
Tax summary
Corporate tax22%
Listed company19% with a 40% free float
Small turnover0.5% final up to IDR 4.8bn
VAT12% statutory · 11% effective
Dividend withholding20% or treaty
PayrollSalaries + contributions
*Figures as of 2026 per the Directorate General of Taxes. Treaty positions are assessed per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Indonesian perseroan terbatas, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed provider.
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The Indonesian payment licence, answered.
What licence does a payment business need in Indonesia?+
A payment service provider licence from Bank Indonesia under PBI No. 23/6/PBI/2021. Article 12 sorts it into three categories by activity, and the category decides both the capital and the company form. Payment system infrastructure operators are designated separately.
What do the three categories cover?+
Category one covers source-of-funds administration, source-of-funds information, payment initiation and acquiring, and remittance. Category two covers source-of-funds information plus payment initiation and acquiring. Category three covers remittance and other activities.
How much capital is required?+
Article 24(2): IDR 15 billion for category one, IDR 5 billion for category two and IDR 500 million for category three, rising to IDR 1 billion where that provider also supplies the system. The central bank may adjust the amounts.
Does a foreign group need an Indonesian partner?+
Yes. Article 19(2) requires at least 15% of the shares to be held by Indonesian citizens or Indonesian legal entities, and Article 20(1) requires at least 51% of the voting shares to be in domestic hands, including for director appointments and veto rights.
How long does the central bank take?+
Five business days of administrative review and twenty business days of substantive analysis under Article 35(2), followed by an on-site visit. With company formation, the pre-consultative meeting and question rounds, plan on six to nine months.
Are there limits on wallet balances?+
Yes. Article 22 of PADG 24/7/PADG/2022 caps an unregistered electronic money instrument at IDR 2 million and a registered one at IDR 20 million.
What changes on 31 March 2026?+
PBI No. 10 of 2025 comes into force. It replaces the three categories with activity bundles - Paket 1A, 1B, 2 and 3 - keeps paid-up capital between IDR 500 million and IDR 15 billion by bundle, prices a payment system infrastructure operator at IDR 100 billion, restates the 15% and 51% tests and restricts ownership changes at newly licensed entities for five years.
What company form is required?+
A perseroan terbatas for a non-bank applicant in category one or category two, under Article 16(2). The ownership structure is self-assessed annually under Article 19.
How are payment companies taxed?+
Corporate income tax at 22%, or 19% for a listed company with at least 40% of its shares traded. VAT is 12% by statute with an effective 11% on non-luxury supplies. Dividends, interest and royalties paid to non-residents carry 20% or the treaty rate.
Why Indonesia rather than Thailand or the Philippines?+
Indonesia is the largest wallet market of the three, with the shortest statutory clock and an entry category at IDR 500 million, and it costs you the 51% domestic control rule. Thailand publishes a 60-business-day clock and no ownership cap. The Philippines runs trust-based safeguarding at PHP 100 million to PHP 200 million of capital.
Which licence?+
Bank Indonesia PJP licence, three categories.
The categories?+
Funds, information, initiation, acquiring, remittance.
Capital?+
IDR 15bn, 5bn or 500m; 1bn with the system.
Indonesian partner?+
15% of shares, 51% of voting control.
How long?+
5 + 20 business days; 6-9 months realistic.
Wallet caps?+
IDR 2M unregistered, IDR 20M registered.
March 2026?+
PBI No. 10 of 2025 brings activity bundles.
Company form?+
Perseroan terbatas for categories one and two.
Taxes?+
22%, VAT 11% effective, dividends 20%.
vs Thailand / Philippines?+
Largest market, shortest clock, 51% rule.
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