Indonesia corporate bank account

Indonesia corporate bank account

Indonesia banking guides - opening a bank account to support your businessHealy Consultants will be pleased to open an Indonesia corporate bank account. Our Client will not have to travel for this engagement. It is a time consuming task, Healy Consultants will shelter our Client from the administrative challenges. As you can appreciate, it is a difficult task to obtain bank account approval through a newly formed company, when shareholders and directors and bank signatories reside overseas. Healy Consultants will prepare a business plan for the bank to optimize the probability of corporate bank account approval.

Indonesia’s banking sector is relatively unsophisticated for international entrepreneurs. In our experience, finding an efficient Indonesia business bank account represents a challenge. However, many international banks have branches in Indonesia and an Indonesia company bank account is a useful tool for companies wishing to confine their activities solely to Indonesia.

The following information will help you determine whether Indonesia corporate bank accounts meet your business needs:

  1. Indonesia’s banking sector is less sophisticated than traditional Asian financial centres such as nearby Singapore and Hong Kong;
  2. An Indonesia business banking account offers a full range of conventional banking products and services for businessmen, including investment products, financing products and services, trade and credit facilities, remittances, bank guarantee facilities, and vendor financing;
  3. An Indonesian bank account with an international banking has full Internet banking facilities;
  4. There are no restrictions on foreign (i e non-Indonesian) firms opening a business bank account;
  5. Healy Consultants’ Clients do not need to travel to Indonesia to open Indonesian corporate bank accounts. Our officers in Indonesia will handle the account opening formalities on your behalf.

Indonesia corporate banking options

  • To receive the best internet banking and customer service, Healy Consultants recommends banking with HSBC, Standard Chartered, and Citibank;
  • In general, there is no foreign exchange control in Indonesia. A person may freely hold, use and transfer funds in foreign currencies. However, the transfer of funds in foreign currencies to and from abroad is subject to a reporting obligation to Indonesia’s central bank, Bank of Indonesia. The reporting obligation is on the side of the Indonesian party;
  • After completing the Indonesia company registration, Healy Consultants assists our Client open a corporate bank account with HSBC or SCB Jakarta. Our Client deposits the paid up share capital of US$100,000 and supplies Healy Consultants with a certificate of deposit and bank statement;
  • Where possible, Healy Consultants bank account opening team will liaise with the bank to prevent our Client having to travel for an account opening interview during Indonesia business setup engagement.

Healy Consultants fees to help open a corporate bank account in Indonesia

Our fee to assist you to open a company bank account amounts to US$2,950. This fee includes:

  1. Healy Consultants International Banking Team completing the Indonesia business banking application form on behalf of our Client, and obtaining our Client’s signature;
  2. Healy Consultants’ International Banking Team preparing a detailed business plan relating to our Client’s company to support the bank account application. The business plan provides details of the company’s activities, products and services offered, details of the company’s suppliers and some information on its Clients, and intended markets;
  3. Healy Consultants International Banking Team submitting the application form and business plan to the bank, together with the corporate and personal information outlined above;
  4. Healy Consultants’ local officer attending the bank interview in Indonesia on your behalf, describing your global business activities and explaining why you require an Indonesian business bank account. As described earlier, Healy Consultants can open an Indonesian business bank account without the bank signatory and beneficial owners’ presence;
  5. Paying the initial bank deposit to the Indonesian bank on our Client’s behalf. A scanned copy of the bank deposit slip is emailed to our Client as verification of the same;
  6. On behalf of our Client, Healy Consultants applies for corporate internet banking facilities to accompany the Indonesia corporate banking;
  7. On behalf of our Client, Healy Consultants applies for a credit card, ATM card and cheque book to come with the Indonesian bank account;
  8. Healy Consultants International Banking Team receiving approval from Indonesia for the opening of the company bank account;
  9. Healy Consultants receiving the bank account internet login and password information in a sealed letter that is passed directly to our Client;
  10. Healy Consultants receiving a corporate cheque book in a sealed letter that is passed directly to our Client;
  11. Healy Consultants receiving credit and ATM cards in a sealed letter that is passed directly to our Client.

Please note that our fee to open corporate bank accounts in Indonesia does not include the initial deposit required by the bank.

Frequently asked questions

Contact us

For additional information on our corporate banking services in Indonesia, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly: