KBLI 66301★ Gold-Tier Intel

Conventional Investment Management

Manajemen Investasi Konvensional di Pasar Keuangan

🏦 Section K — Financial & Insurance Activities

In Bali: open to a PT PMA

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

Investment fund management — managing mutual funds (reksa dana), discretionary portfolios, hedge funds, and other collective investment schemes on behalf of investors. The fund manager (Manajer Investasi / MI) makes investment decisions and earns a management fee on assets under management (AUM). Products: reksa dana saham (equity), reksa dana pendapatan tetap (fixed income), reksa dana campuran (balanced), reksa dana pasar uang (money market), reksa dana terproteksi (protected), ETF, and alternative investment funds. **Maximum foreign ownership: 99%** (OJK allows up to 99% but effectively requires at least one Indonesian director, per OJK regulation).

Licensing & Requirements

What You Need

Risk LevelHigh (Tinggi)

License TypeNIB + Izin

ProcessingSesuai ketentuan OJK/BI

Foreign Ownership100% Open

AuthorityBKPM / OSS

PP28/2025 Licensing Data4 scales

Business scale:

MikroHigh RiskNIB + Izin⏱ Sesuai ketentuan OJK/BI

Requirements (Indonesian)2

1Lembaga OSS hanya menerbitkan NIB. Permohonan Perizinan Berusaha diajukan oleh Pelaku Usaha ke, diterbitkan oleh, serta dengan memenuhi persyaratan yang ditetapkan oleh, Otoritas Jasa Keuangan (OJK) sesuai ketentuan perundangan

2Lembaga OSS hanya menerbitkan NIB. Permohonan Perizinan Berusaha diajukan oleh Pelaku Usaha ke, diterbitkan oleh, serta dengan memenuhi persyaratan yang ditetapkan oleh, Otoritas Jasa Keuangan (OJK) sesuai ketentuan perundangan

Post-License Obligations2

Memenuhi kewajiban yang ditetapkan oleh Otoritas Jasa Keuangan (OJK) sesuai ketentuan perundangan

PHASE 1 — OSS / NIB (7 working days)

PHASE 2 — OJK Manajer Investasi License — 6–12 months

Application to OJK— Departemen Pengawasan Pasar Modal I (for securities-based funds) or IKNB (for other collective investment vehicles)

Minimum paid-up capital:— IDR 25 miliar fully paid up at time of OJK application

Tenaga Ahli requirement (MANDATORY):

Fit & proper test— OJK vets all directors and commissioners

Compliance infrastructure— internal compliance function, risk management framework, investment committee structure

SHAI system registration— OJK's Sistem Hak Akses Investor; required for fund distribution

Custodian bank agreement— reksa dana assets must be held by a licensed custodian bank (OJK requirement)

OJK Izin Usaha MI— issued after all assessments pass

Fund registration— each reksa dana product requires separate OJK registration before launch

To launch a listed ETF additionally

Step-by-step for PT PMA MI company

Company incorporation— PT PMDN / CV / Perorangan (local, WNI) — notary deed, AHU registration

Capital injection— IDR 25B into Indonesian bank account

NIB via OSS— 66301, 7 working days

OJK MI license application— file complete dossier including business plan, investment methodology, compliance manual, custodian bank letter of intent (~6–12 months)

OJK approval— interview + document review

Fund product registration— register first fund with OJK (~2–4 months additional)

Distribution agreement— sign distribution agreements with bank or agent penjual (APERD) for fund sales

Launch— commence AUM generation

Typical full timeline

Minimum total capital

2020 → 2025

Direct match from KBLI 2020 (MATCH_LANGSUNG). The OJK regulatory framework for Manajer Investasi was updated through OJK POJK 23/2016 and subsequent circulars. The key post-2020 development is OJK's push for ESG (Environmental, Social, Governance) fund standards and the growth of OJK-licensed Reksa Dana ESG products — a genuine new product category for foreign MIs bringing ESG expertise.

Bali Intelligence

Foreign Workers

TKA Eligible Positions

Kepmenaker 228/2019 — Category 9: Jasa Keuangan dan Asuransi

45 in category

1211Chief Investment OfficerKepala Investasi

2413Fund ManagerManajer Dana

2413Portfolio ManagerManajer Portofolio

2413Investment AnalystAnalis Investasi

2413Risk ManagerManajer Risiko

2412Compliance OfficerPejabat Kepatuhan

2412Financial AdvisorPenasihat Keuangan

Kepmen 228/2019 lists 45 TKA-eligible positions in the financial services category. OJK Fit & Proper test applies to directors, commissioners, and Wakil Manajer Investasi (WMI) holders.

KEDUA Provision — Directors & Commissioners Exemption

Directors and Commissioners who do NOT manage personalia can work without being listed in the jabatan.

Complementary Codes

Common Questions

Can foreigners operate a conventional investment management business in Indonesia?

Yes. KBLI 66301 (Manajemen Investasi Konvensional di Pasar Keuangan) is TERBUKA — open to 100% foreign ownership via PT PMA. No local Indonesian partner required.

What license is required for KBLI 66301?

KBLI 66301 has a Tinggi risk classification. Required license: NIB + Izin. Processing time: Sesuai ketentuan OJK/BI.

What is KBLI 66301?

KBLI 66301 is the Indonesian business classification code for "Manajemen Investasi Konvensional di Pasar Keuangan" (Conventional Investment Management). 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 66301 change from KBLI 2020 to 2025?

KBLI 66301 was mapped from previous code 66311 (KBLI 2020). Agent mapping: 66311 (Manajer Investasi...) [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

66302Section K

Sharia Investment Management

Manajemen Investasi Syariah di Pasar Keuangan

→

Registrable in Bali✅Open· 100% ForeignHigh Risk

66303Section K

Commodity Futures Fund Management

Manajemen Investasi di Perdagangan Berjangka Komoditas

→

Registrable in Bali✅Open· 100% ForeignHigh Risk

66309Section K

Other Fund Management

Aktivitas Manajemen Dana Lainnya

→

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

66299Section K

Other Insurance & Pension Support Services

Aktivitas Penunjang Lainnya untuk Asuransi, Penjamian, dan Dana Pensiun Ytdl

→

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

66292Section K

Insurance & Pension Fund Supervision

Aktivitas Pengawasan Jasa Keuangan Asuransi dan Dana Pensiun

→

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

66291Section K

Actuarial Advisory

Aktivitas Advisori Aktuaria

→

Registrable in Bali✅Open· 100% ForeignHigh Risk

🏢

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What You Need

Risk LevelHigh (Tinggi)

License TypeNIB + Izin

ProcessingSesuai ketentuan OJK/BI

Foreign Ownership100% Open

AuthorityBKPM / OSS

PP28/2025 Licensing Data4 scales

Business scale:

MikroHigh RiskNIB + Izin⏱ Sesuai ketentuan OJK/BI

Requirements (Indonesian)2

Post-License Obligations2

Memenuhi kewajiban yang ditetapkan oleh Otoritas Jasa Keuangan (OJK) sesuai ketentuan perundangan

PHASE 1 — OSS / NIB (7 working days)

PHASE 2 — OJK Manajer Investasi License — 6–12 months

Application to OJK— Departemen Pengawasan Pasar Modal I (for securities-based funds) or IKNB (for other collective investment vehicles)

Minimum paid-up capital:— IDR 25 miliar fully paid up at time of OJK application

Tenaga Ahli requirement (MANDATORY):

Fit & proper test— OJK vets all directors and commissioners

Compliance infrastructure— internal compliance function, risk management framework, investment committee structure

SHAI system registration— OJK's Sistem Hak Akses Investor; required for fund distribution

Custodian bank agreement— reksa dana assets must be held by a licensed custodian bank (OJK requirement)

OJK Izin Usaha MI— issued after all assessments pass

Fund registration— each reksa dana product requires separate OJK registration before launch

To launch a listed ETF additionally

Step-by-step for PT PMA MI company

Company incorporation— PT PMDN / CV / Perorangan (local, WNI) — notary deed, AHU registration

Capital injection— IDR 25B into Indonesian bank account

NIB via OSS— 66301, 7 working days

OJK MI license application— file complete dossier including business plan, investment methodology, compliance manual, custodian bank letter of intent (~6–12 months)

OJK approval— interview + document review

Fund product registration— register first fund with OJK (~2–4 months additional)

Distribution agreement— sign distribution agreements with bank or agent penjual (APERD) for fund sales

Launch— commence AUM generation

Typical full timeline

Minimum total capital

2020 → 2025