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KBLI Navigator/Section K/65112
KBLI 65112

Sharia Life Insurance

Asuransi Jiwa Syariah

🏦 Section K — Financial & Insurance Activities

Bali record: not blocked by the provincial restriction; national ownership and licensing rules still apply

Instrument locator: Perpres 10/2021 Pasal 11(2) — financial/banking business fields follow their own sector legislation

⚠️Restricted· Max 80%High Risk🏝️✅Registrable in Bali· medium conf.OSS risk at scale Besar is Menengah-Tinggi/Tinggi → not blocked by moratorium✓OSS-verified · KBLI 2025

Sharia Life Insurance: Capped at 80% Nationally, Not Blocked in Bali

A sharia-based life-insurance activity open from Mikro to Besar scale, with a national foreign-ownership ceiling of 80% under PP 14/2018 and no block under Bali’s stated moratorium.

By the numbers
National foreign ownership ceiling
80%
Scales open to
Mikro, Kecil, Menengah, Besar
PMA source
PP 14/2018 Pasal 5(1) jo. PP 3/2020 (Perpres 10/2021 Pasal 11(2))
Bali status
Registrable in Bali
Bali adds no further restriction: this activity is not blocked by the stated provincial moratorium, and the 80% national ceiling stands.
What Changed

KBLI 2020→2025 mapping: bps only.

What You Need

In Bali, this activity is not blocked by the local foreign investment moratorium, but it is classified as medium-high/high risk. That means registration is possible, but the authorities will scrutinize your application more closely—especially your registered commercial address, which must be genuine and verifiable. Expect extra compliance steps.

Who This Is For

Foreign entrepreneurs with deep expertise in Islamic finance who want to launch a Sharia life insurance company targeting Indonesia’s large Muslim market.

Licensing Overview
Risk LevelTinggi
License TypeNIB + Izin
Foreign OwnershipMax 80%
ProcessingSesuai ketentuan OJK/BI
Authoritative BPS crosswalk
Official BPS 2020 → 2025 crosswalk ancestors: 65112, 65113

Source: the BPS 2020↔2025 conversion table, mechanically extracted and acceptance-gate verified. It shows which 2020 codes map to this 2025 code — provenance only, not a licensing claim: the regulatory regime of these predecessor codes has not been adjudicated as transferring.

Sources & Verification

Each data layer below traces to a government source with its KBLI vintage — or is declared as a gap. Nothing in these layers is silently filled in.

Activity definition
BPS Peraturan 7/2025 + PP 28/2025VerifiedKBLI 2025

Title and scope as defined by the KBLI-2025 classification.

locator: OSS_RBA_2025_id_version_fff4053d

Risk & licensing
OSS RBA risk scope (ruang lingkup)VerifiedKBLI 2025

Risk category and licensing rows are KBLI-2025-native from the OSS Risk-Based Approach catalog.

locator: OSS_RBA_resiko_2025

Foreign ownership (PMA)
PP 14/2018, PP 3/2020 (sector law — Perpres 10/2021 Pasal 11(2) carve-out, not the Perpres 10/2021/49/2021 annexes)Verified2020-01-20

The current whole-code foreign-ownership verdict has an adjudicated official basis and source vintage in the canonical record.

locator: PP 14/2018 Pasal 5(1) jo. PP 3/2020 Pasal I angka 1 (Kepemilikan Asing pada Perusahaan Perasuransian dilarang melebihi 80% dari modal disetor). 'Perusahaan Perasuransian' includes 'perusahaan asuransi syariah' per UU 40/2014 Pasal 1 angka 14. Perpres 10/2021 Pasal 11(2) carves the financial/banking bidang usaha out to sector law — the Perpres 10/2021/49/2021 annexes and residual-open default never applied here.

Bali status
Bali province blocks ALL Low + Medium-Low risk KBLI for PMA (island-wide, permanent) (effective 2026-05-13)Audit pending2026 overlay

Conservative posture derived from the risk tier · confidence MEDIUM.

Dataset last updated 2026-08-15 · KBLI 2020 and KBLI 2025 reuse code numbers for different activities — cross-vintage rows are labeled, never merged silently.

Common Questions
Can foreigners operate a sharia life insurance business in Indonesia?
Partially. KBLI 65112 (Asuransi Jiwa Syariah) is TERBATAS — foreign ownership is capped at 80%. Condition: Foreign ownership max 80% of paid-up capital (PP 14/2018 Pasal 5(1) jo. PP 3/2020); listed companies (perseroan terbuka) exempt; pre-2018 holdings above 80% grandfathered without increase. (Source: PP 14/2018, PP 3/2020 (sector law — Perpres 10/2021 Pasal 11(2) carve-out, not the Perpres 10/2021/49/2021 annexes).)
What license is required for KBLI 65112?
KBLI 65112 has a Tinggi risk classification. Required license: NIB + Izin. Processing time: Sesuai ketentuan OJK/BI.
What is KBLI 65112?
KBLI 65112 is the Indonesian business classification code for "Asuransi Jiwa Syariah" (Sharia Life Insurance). It falls under Section K of KBLI 2025, the Indonesian Standard Industrial Classification updated by BPS (Regulation 7/2025). The June 2026 KBLI 2025 transition window has closed; operators should verify the code's current OSS/NIB treatment before relying on it for licensing, reporting, or amendments.
How did KBLI 65112 change from KBLI 2020 to 2025?
According to the official BPS 2020 → 2025 crosswalk, KBLI 65112 has recorded KBLI 2020 ancestor(s) 65112, 65113. This is provenance only, not a licensing claim; no predecessor licensing regime is asserted to transfer. The June 2026 KBLI 2025 transition window has closed. If an NIB still relies on legacy KBLI 2020 mappings, treat the migration as overdue and verify/remediate the OSS record before new license applications, amendments, LKPM, import approvals, or investor/worker sponsorship.

Related Codes

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🏝️✅Registrable in Bali⚠️Restricted· Max 80%High Risk
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🏝️✅Registrable in Bali⚠️Restricted· Max 80%High Risk
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🏝️✅Registrable in Bali⚠️Restricted· Max 80%High Risk
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Deposit & Policy Guarantee Scheme

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❓PMA unverifiedHigh Risk
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Sharia Guarantee Services

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→
❓PMA unverifiedHigh Risk
🏢

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