Business Setup in Indonesia
There are several ways to break into the Indonesian market, but findin...
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Business Setup
Business Process Outsourcing
Immigration Consultation
Product Registration & Import
Compliance & Secretarial Services
Transfer Pricing Services
Other Services
Opening a corporate bank account is one of the mandatory steps of a foreign-company incorporation process. The account must be established with a bank that is licensed as a Foreign-Exchanged Bank or Bank Devisa so that it can handle foreign currencies.
Even though most banks allow setting up a bank account after the company registration is complete, it is also possible to register a bank account during the process. Unfortunately, not all banks provide this service.
Banks apply different requirements, but a stay permit (either temporary or permanent) is required. Only with ITAS or ITAP foreign individuals in Indonesia are allowed to open bank accounts. In-depth knowledge of Indonesian regulations plays an important role because other than ITAS or ITAP, you will also have to prepare supporting documents.
In Indonesia, there are three commonly used bank accounts, namely saving, checking, and deposits accounts.
On top of the bank account opening for foreign citizens and legal entities in Indonesia, InCorp Indonesia can assist in the following services that require an individual approach.
Thanks to our partnership with several banking institutions, it is possible to open a bank account while staying in a different country. Once provided with the required documents, InCorp Indonesia will act on our client’s behalf and set up an account.
To save time, InCorp Indonesia is here to work on customers’ behalf and start a business bank account during the establishment of a foreign-owned company is completed.
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