Indonesia has adopted a law establishing an International Financial Center.

After this news, many foreign investors started asking the same question:
does this mean that Bali will soon become Asia’s next major financial hub?
At this stage, no.

Indonesia is indeed launching a new financial project. It's goal is to attract international capital, banks, investment funds, asset management companies, family offices, and other financial structures.
However, for regular PT PMA businesses in Bali, this does not yet change the current operating rules.

If you have a PT PMA in Indonesia and operate in trade, services, tourism, consulting, real estate, manufacturing, or e-commerce, you continue to work under the ordinary legal framework.
Taxes, accounting, reporting, OSS, licenses, corporate obligations, and bank reviews remain in place.

The International Financial Center is a separate framework for financial-sector participants.
It does not turn all of Bali into a zero-tax zone and does not cancel the obligations of ordinary companies.

The Key Points in Simple Terms

Indonesia is creating an International Financial Center to compete with major financial hubs in Asia and attract international capital.

However, Bali will not become this center immediately.

The project is expected to launch first in Jakarta. According to current reports, the first site will be Danareksa Tower in central Jakarta.
Bali remains part of the future roadmap, but a special territory must be prepared for the island.
This may take approximately 2–3 years.
At the moment, several possible sites are being discussed:

North Bali;
Kura Kura Bali;
Sanur.

However, the final site has not yet been approved.

There is also a legal issue: current regulations do not allow the International Financial Center to be located inside special economic zones.
At the same time, Kura Kura Bali and Sanur already have that status.
This means that if the authorities decide to use those sites, separate changes to the rules may be required.

The main point for businesses is simple:
the benefits of the International Financial Center do not automatically apply to ordinary PT PMA companies.
If you are opening a restaurant, tourism company, agency, trading business, manufacturing business, villa management company, online service, or consulting company, the new financial center benefits do not directly apply to you.

Learn more about how to open a company in Bali in 2026 in our article
How to Open a PT PMA in Bali in 2026: A Guide for Foreigners

02

What the International Financial Center of Indonesia Is

The International Financial Center is a special platform for financial-sector businesses.

Its purpose is to attract major financial institutions and international capital to Indonesia.
This is not about ordinary business.
It is about the financial sector.

Such a center may primarily be relevant for:

international banks;
investment banks;
investment funds;
asset management companies;
family offices;
financial consultants;
structures working with cross-border investments;
certain financial service providers;
companies involved in international financial operations.

For the government, the objective is clear.
A significant part of international capital currently flows through other financial centers in Asia.
Indonesia wants to create conditions for some of these structures to operate inside the country.

However, for a regular business owner, it is important not to confuse two different issues.
The International Financial Center is not a general tax reform for all businesses in Indonesia.
It is a special framework for a limited group of financial-sector participants.

Learn more about business requirements in 2026 in our article
Business Inspections in Bali in 2026: What Authorities Check in PT PMA Companies and How to Prepare in Advance

03

Where It Will Start Operating

Despite expectations related to Bali, the first stage will take place in Jakarta.

According to current reports, during the transitional period, the International Financial Center will start operating through Danareksa Tower in central Jakarta.

The reason is practical:
Jakarta already has existing infrastructure, office space, and the ability to launch the project faster.
For Bali, a separate territory and infrastructure must be prepared.
This cannot be done in a few months.

Therefore, in the near future, it is not realistic to expect Bali to immediately become a fully operational financial zone with ready offices, tax benefits, and a functioning system for foreign investors.
First, the project is expected to launch in Jakarta.
After that, the Bali site may be developed if the project moves to the next stage of preparation.

04

Why Bali Will Have to Wait

Bali has not been excluded from the project.

On the contrary, the authorities are considering the island as an important direction for future development of the financial center.
However, launching such a framework requires more than simply declaring the island a financial center.

The following must be prepared:

territory;
infrastructure;
regulation;
managing authority;
financial supervision;
participant rules;
tax conditions;
immigration conditions;
licensing procedure;
system for working with international financial companies.

According to current estimates, preparation of a site in Bali may take approximately 2–3 years.
For this reason, headlines claiming that Bali is already becoming the financial capital of Asia can be misleading.

A more accurate statement is this:
Indonesia has launched the legal basis for an International Financial Center, but Bali is still at the preparation stage.

05

Which Sites in Bali Are Being Discussed

Several possible sites are currently being discussed for the future financial center in Bali.

North Bali

May be considered as a new development territory

Kura Kura Bali

Already has special economic zone status

Sanur

Also connected to a special economic zone

The main issue concerns Kura Kura Bali and Sanur.

They already have special economic zone status.
At the same time, current regulations do not allow the International Financial Center to be located inside such a zone.
This does not mean that these sites are definitely excluded.
However, if the authorities decide to use them, regulatory changes or separate clarification may be required.

Until the final site is approved, business decisions should not be based on the assumption that Kura Kura Bali, Sanur, or North Bali will definitely become a ready financial center.

06

Why Indonesia Is Creating a Financial Center

Indonesia wants to strengthen its role in international finance.
At the moment, a significant part of capital, funds, family offices, and international financial structures operates through other jurisdictions.
Indonesia wants to create conditions for such structures to open inside the country.

For the state, this may bring:

inflow of international capital;
growth of the financial sector;
new jobs;
more investment instruments;
development of professional services;
greater interest from foreign investors;
stronger regional position for Indonesia.

For investors, this may become a new tool in the future.
However, it is important not to confuse a strategic direction with a mechanism that is already fully operational.
The law has been adopted, but many practical details still need to be set out in further regulations.

07

Which Benefits Are Planned

The adopted law and public statements refer to a package of tax and non-tax benefits for participants of the International Financial Center.

Possible benefits include:

corporate income tax of up to 0% for up to 50 years for participants that meet the conditions;
exemption of foreign financial-sector specialists from personal income tax;
special conditions for Golden Visa holders working through the financial center;
exemption of certain types of foreign investors’ income from withholding tax;
VAT exemption;
exemption from luxury goods tax;
separate customs and import benefits;
simplified or special conditions for licensing and stay permits.

These measures look strong.
However, they cannot be applied to ordinary businesses.

The benefits are expected to apply to participants of the financial center and only if the required conditions are met.
In addition, large multinational corporations subject to global minimum tax rules will not be able to treat a zero rate as a universal solution.

Learn more about business taxes in Bali in our article
Taxes for PT PMA in Bali in 2026: What to Pay and When to Report

08

Why the Benefits Cannot Yet Be Treated as a Working Tool

The main mistake is making an investment decision based only on the phrase “zero tax.”

At the time of preparing this article, many practical conditions still need to be clarified.

Further rules are needed to show:

which companies will be able to become participants;
which types of financial activity will be allowed;
which documents will be required;
where the center will be located;
how supervision will work;
which tax benefits will apply;
for how long;
to which income;
to which employees;
how Golden Visa rules will work;
which restrictions will apply;
how participants will be able to work with Indonesia and other countries.

Until these details are available, it is not correct to promise a client that they can open a company in Indonesia and automatically receive 0% tax for 50 years.
That conclusion would be wrong.

09

Will the Benefits Be Available to Ordinary PT PMA Companies?

For most foreign-owned companies, the answer is no.
If your PT PMA conducts ordinary business, the International Financial Center does not change your current obligations.

This applies to companies working in:

trade;
tourism;
consulting;
manufacturing;
real estate;
villa management;
restaurants;
services;
online services;
e-commerce;
marketing;
education;
wellness;
creative industries.

For such companies, the ordinary rules remain:

PT PMA registration;
OSS and NIB;
suitable business activity codes;
licenses;
tax reporting;
accounting;
corporate reports;
investment reports;
bank reviews;
rules for foreign employees;
requirements for address and actual activity.

The International Financial Center does not cancel corporate income tax, VAT, reporting, LKPM, the annual report through AHU, or KBLI requirements for an ordinary PT PMA.
If the business is not part of the financial sector and will not participate in the special framework, the new benefits do not apply to it.

10

Which Restrictions May Apply

The International Financial Center is not intended to replace Indonesia’s ordinary banking system.
For this reason, restrictions are expected for participants.

Companies inside the financial center will not be able to freely operate in Indonesia’s domestic retail market.

In particular, the following restrictions are being discussed:

prohibition on collecting funds from Indonesian individuals outside the financial center territory;
restrictions on serving local retail clients outside the center;
restrictions on competing with ordinary Indonesian banks for the domestic retail market;
restrictions on using the special framework for ordinary work with local consumers.

The purpose of these restrictions is simple:
the financial center is intended for international financial operations, not for replacing Indonesia’s existing banking system.

This is important for foreign investors.
Even if a company qualifies for the special framework, this does not mean complete freedom to operate across the entire Indonesian market.

Learn more about what an Investor KITAS is and why it may be useful in our article
Investor KITAS in Bali in 2026: Who It Is For, What It Gives You, and What to Check Before Applying

11

What This Means for Foreign Investors

For foreign investors, adoption of the law is an important signal.

Indonesia wants to attract international capital and build stronger financial infrastructure.

This may be interesting for those who:

work with investment funds;
manage capital;
consider family office structures;
work with international financial structures;
plan major investments in Indonesia;
work with global business;
are considering Golden Visa;
are considering long-term presence in Indonesia.

However, for most entrepreneurs in Bali, the situation is simpler.
If you are opening an ordinary PT PMA, you should focus not on future financial center benefits, but on the current rules.

Check:

whether PT PMA is suitable for you;
which business activity codes are needed;
which licenses will be required;
which tax regime applies;
whether KITAS is needed;
which reports must be filed;
which bank reviews may apply;
how payments and agreements will be structured;
where the registered address will be;
how investments will be confirmed.

The International Financial Center may become an important part of Indonesia’s future investment infrastructure.
But at the moment, it does not replace standard legal, tax, and immigration review for a business.

12

What to Check Before Opening a Business in Indonesia

If you saw news about the financial center and decided to open a company in Indonesia, first check whether your business is connected to this project.

Is your business part of the financial sector?

Financial center benefits are not intended for ordinary companies

Will the company work with international financial operations?

The center is being created specifically for this format

Do you want to work in Indonesia’s domestic market?

Financial center participants may face restrictions on the local retail market

Are you opening an ordinary PT PMA?

Then the standard PT PMA rules apply

Do you need Golden Visa or Investor KITAS?

The basis must be checked separately

Are you relying on tax benefits?

Further implementing rules and criteria are still needed

If the answers show that you are opening an ordinary business, you should not build the financial model on future PFII benefits.
First, the company should be opened and structured under the rules currently in force.

13

How Sunrise Business Helps Investors and Business Owners

We do not begin with headlines about tax benefits.
First, it is necessary to understand what exactly you plan to do in Indonesia.

Sunrise Business helps:

determine whether an ordinary PT PMA is suitable for you;
check whether the project belongs to the financial sector;
review company requirements;
select business activity codes;
review tax obligations;
assess Investor KITAS or Golden Visa options;
review ownership structure;
prepare documents for the bank;
explain which benefits already apply and which still require clarification;
separate real opportunities from headline-driven assumptions.

If the International Financial Center becomes relevant to your project in the future, participation conditions will need to be checked under the rules in force at the time of application.
If the project is not part of the financial sector, the company must operate under ordinary Indonesian law.

14

FAQ

Planning to Open a Company, Obtain Investor KITAS, or Apply for Golden Visa in Indonesia?

Contact Sunrise Business.

We first review what exactly you plan to do:

ordinary business;
investment project;
financial structure;
PT PMA;
Investor KITAS;
Golden Visa.

After that, it becomes clear:

which rules already apply;
which benefits are only announced but not yet practical;
which structure is suitable for your situation.

This helps you avoid building a business decision on headline-driven assumptions or relying on benefits that do not yet apply to your company.

The information in this article is provided for general informational purposes only.
Rules related to Indonesia’s International Financial Center, tax benefits, Golden Visa, PT PMA, the financial sector, and restrictions for participants may change.
Before making decisions, current requirements should be reviewed based on: