Since Presidential Regulation 10 of 2021, any sector that is not specifically restricted is open to 100% foreign ownership through a PT PMA (a foreign-owned Indonesian company), with a minimum investment of about IDR 10 billion (≈ USD 600,000) per business line. In Bali, open but less crowded sectors include specialist clinics, training centres, cold storage and logistics, waste and water services, marinas, elderly care and food processing. Information only.
What actually changed in 2021?
Indonesia turned its rules the other way round. It used to publish a “negative list” of sectors closed to foreigners; it now publishes a positive investment list, and anything not specifically restricted or reserved is open.
In practice that means a PT PMA can own 100% of most businesses, as long as it meets the minimum investment for each business line. A business line is defined by its KBLI code — the five-digit business classification code every Indonesian company registers its activities under. See what KBLI codes are and why they matter.
How much investment does the company need?
The company’s investment plan needs to be about IDR 10 billion (≈ USD 600,000) per business line. That is the total planned investment, not cash you must deposit on day one: since BKPM Regulation 5 of 2025, the minimum paid-up capital is reported at IDR 2.5 billion per company. Related business lines can sometimes share one plan, so check the exact position for your codes and location with Indonesian counsel, as the rules have exceptions.
For what setting up the company itself involves, see what a PT PMA costs to set up. Information only.
Is Bali any different?
Yes. Separately from the national list, Bali has blocked new PT PMA registrations in 18 everyday categories since 2026. A sector can be open nationally and still closed to new foreign-owned companies on the island, so check both. See what foreigners can still open in Bali. Information only.
Which open sectors are less crowded?
- Specialist clinics and training. Specialist clinics (klinik utama), including specialist dental, can be fully foreign-owned; basic neighbourhood clinics remain reserved for Indonesian owners. Training centres are open; formal schools operate through local foundations.
- Cold chain and logistics. An island of world-class restaurants runs on fragmented supply chains.
- Waste and water. Bali’s own market reporting names both as structural constraints.
- Marinas. A long coastline with few professional boat services.
- Recovery and elderly care. Next to the new Sanur health zone.
- Food processing. Much of the island’s farm produce currently leaves raw.
Fully open to foreign-owned companies, as reported in 2026. Information only.
How can I tell there is real demand before I build?
In these sectors the demand is usually visible before anything is built: school waiting lists, patients outnumbering good dental chairs, hotels short of trained staff. If you cannot point to evidence like that, the sector may be open but the market may not be ready.
So why are these sectors less crowded?
Because they are slower and heavier. They take 3–7 years to build and need capital for equipment and fit-out — the kind of capital that is scarce while most money goes into villas. Information only.
Sources: Presidential Regulation 10 of 2021; regulatory status as reported 2026. Legal structuring needs Indonesian counsel — rules move. Not legal advice. General information about the Indonesian market, not legal, tax or financial advice.
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