KBLI 66196

Securities Underwriting

Penjaminan Emisi Efek (underwriter)

🏦 Section K — Financial & Insurance Activities

In Bali: open to a PT PMA

✅Open· 100% ForeignHigh RiskRenumberedRegistrable in Bali· medium conf.

This covers underwriting securities (guaranteeing share or bond issues) and advising companies on corporate actions like IPOs, mergers, acquisitions, and restructuring during a public offering process.

What Changed

KBLI 2020→2025 mapping: codice rinumerato.

What You Need

In Bali, the island-wide moratorium (in force since 13 May 2026) only halts PMA registrations for Low and Medium-Low risk lines — this KBLI's large-scale (Besar) risk class is higher, so it is not caught: PMA registration in Bali remains possible.

Who This Is For

Foreign investment banks, securities firms, or corporate finance advisors who want to help Indonesian companies raise capital or restructure through public markets.

Licensing Overview

Risk LevelTinggi

License TypeNIB + Izin

Foreign Ownership100% Open

ProcessingSesuai ketentuan OJK/BI

2020 → 2025

Previous codes (KBLI 2020): 66141— Agent mapping: 66141 (Penjamin Emisi Efek (Underwrit...) [high]

Common Questions

Can foreigners operate a securities underwriting business in Indonesia?

Yes. KBLI 66196 (Penjaminan Emisi Efek (underwriter)) is TERBUKA — open to 100% foreign ownership via PT PMA. No local Indonesian partner required.

What license is required for KBLI 66196?

KBLI 66196 has a Tinggi risk classification. Required license: NIB + Izin. Processing time: Sesuai ketentuan OJK/BI.

What is KBLI 66196?

KBLI 66196 is the Indonesian business classification code for "Penjaminan Emisi Efek (underwriter)" (Securities Underwriting). 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 66196 change from KBLI 2020 to 2025?

KBLI 66196 was mapped from previous code 66141 (KBLI 2020). Agent mapping: 66141 (Penjamin Emisi Efek (Underwrit...) [high] The code was renumbered but the business activity scope is essentially unchanged. 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

66197Section K

Money & Forex Market Support Services

Aktivitas Pendukung di Pasar Uang dan Pasar Valuta Asing

→

Closed in Bali (2026 moratorium)✅Open· 100% nat'l · blocked in BaliMedium-Low Risk

66195Section K

Investor Protection Fund

Penyelenggaraan Dana Perlindungan Pemodal

→

Registrable in Bali✅Open· 100% ForeignHigh Risk

66198Section K

MSME & Cooperative Rating

Pemeringkatan Usaha Mikro, Kecil, Menengah, dan Koperasi

→

Conditional in Bali — depends on declared scope✅Open· 100% ForeignHigh Risk

66194Section K

Securities Price Valuation

Penilaian Harga Efek

→

Registrable in Bali✅Open· 100% ForeignHigh Risk

66199Section K★

Other Non-Insurance Financial Support Services

Aktivitas Penunjang Jasa Keuangan Lainnya Ytdl, Kecuali Asuransi dan Dana Pensiun

→

Registrable in Bali✅Open· 100% ForeignHigh Risk

66193Section K

Securities Rating

Pemeringkatan Efek

→

Registrable in Bali✅Open· 100% ForeignHigh Risk

🏢

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KBLI 66196

Securities Underwriting

Penjaminan Emisi Efek (underwriter)

🏦 Section K — Financial & Insurance Activities

In Bali: open to a PT PMA

✅Open· 100% ForeignHigh RiskRenumberedRegistrable in Bali· medium conf.

What Changed

KBLI 2020→2025 mapping: codice rinumerato.

What You Need

Who This Is For

Foreign investment banks, securities firms, or corporate finance advisors who want to help Indonesian companies raise capital or restructure through public markets.

Licensing Overview

Risk LevelTinggi

License TypeNIB + Izin

Foreign Ownership100% Open

ProcessingSesuai ketentuan OJK/BI

2020 → 2025

Previous codes (KBLI 2020): 66141— Agent mapping: 66141 (Penjamin Emisi Efek (Underwrit...) [high]

Common Questions

Can foreigners operate a securities underwriting business in Indonesia?

Yes. KBLI 66196 (Penjaminan Emisi Efek (underwriter)) is TERBUKA — open to 100% foreign ownership via PT PMA. No local Indonesian partner required.

What license is required for KBLI 66196?

KBLI 66196 has a Tinggi risk classification. Required license: NIB + Izin. Processing time: Sesuai ketentuan OJK/BI.