Fintech is one of the industries registering a high growth rate in Indonesia in the last 5 years. With the government and the Central Bank of Indonesia supporting the development of financial and non-financial institution offering innovative solutions to clients, opening a fintech company in this country has become quite popular.
There are two ways of opening a fintech company in Indonesia. As a foreign investor, one will need to make a mandatory investment of USD 7000.000 for opening a fintech company in Indonesia. Our company formation agents in Indonesia can offer information about the other requirements for foreign investors setting up a fintech business.
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The most popular fintech activities in Indonesia
There are several types of fintech businesses which can be established in Indonesia. Foreign investors are also allowed to open one or more of the following types of companies:
- asset management businesses which can undertake various types of activities;
- crowdfunding companies through which startups can raise money for their activities;
- electronic money or e-money business which will create e-wallets, and which can be used by shops and online companies;
- peer-to-peer lending platforms through which companies can put in contact with lenders;
- payment gateway businesses which can provide online processing solutions, such as merchant accounts;
- cryptocurrency exchanges through which initial coin offerings (ICOs) can be created.
Cryptocurrency companies are also quite popular fintech companies in Indonesia.
You can choose to start this business after you immigrate to Indonesia, should you want to be here to manage your business.
How to register a fintech business in Indonesia
There are two ways of setting up a fintech company in Indonesia:
- by registering an IT company which is subject to less stringent requirements;
- by incorporating a financial company which must obtain authorization from the National Bank of Indonesia.
In case of opening a financial company, which offers fintech solutions, the share capital requirements will depend on the activities undertaken by the company.
Fintech startups are also very popular in Indonesia, as they benefit from the various incentives offered by the government.
For guidance in opening a fintech business, please feel free to contact our Indonesia company incorporation consultants.
A division of our team also provides relocation services, for those who immigrate to Indonesia.