E28A Investor KITAS 2026: The Passive Investment Visa for Indonesia

If you're investing significant capital into an Indonesian company (PT PMA) but don't plan to work there day-to-day, the E28A Investor KITAS is your most cost-effective pathway to Indonesian residence. With a minimum IDR 10 billion shareholding requirement, this visa category offers 2-year validity, no work permit bureaucracy, and a direct path to permanent residence (KITAP) after just 3 years.

This guide covers everything you need to know about E28A in 2026: eligibility requirements, cost comparisons with work visas, the seven sub-variants (E28A through E28G), document requirements, and the KITAP pathway for long-term residence.

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What is E28A Investor KITAS?

E28A is a residence permit (KITAS/ITAS) category designed specifically for passive investors who hold substantial shareholdings in Indonesian companies but do not perform active work functions like management, operations, or board duties.

Key Characteristics

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The IDR 10 Billion Threshold: What It Means

The defining requirement of E28A is a minimum IDR 10 billion shareholding in a PT PMA (foreign investment company) registered with BKPM (Indonesia's Investment Coordinating Board).

What Counts Toward the IDR 10B?

• Paid-up capital (modal disetor) reflected in company's AHU deed
• Shares held in your name as documented in shareholder registry
• Must be in a PT PMA (foreign investment company), not PT lokal

What Happens If You're Below IDR 10B?

If your shareholding is less than IDR 10 billion AND you hold a director or commissioner position, Indonesian immigration regulations require you to apply for a work visa instead:

• E25B Director KITAS if you're a director (Direktur)
• E25A Commissioner KITAS if you're a commissioner (Komisaris)

These work visas require RPTKA (manpower planning letter) and cost significantly more (IDR 34.5M for E25B vs IDR 17M for E28A offshore).

Example Scenarios

Scenario 1: Qualified for E28A

• Shareholding: IDR 12 billion (60% of IDR 20B company)
• Position: Shareholder only (no director/commissioner role)
• ✅ Eligible for E28A - Pure passive investor

Scenario 2: Must Use E25B Instead

• Shareholding: IDR 8 billion (40% of IDR 20B company)
• Position: Director (Direktur Utama)
• ❌ Not eligible for E28A - Below IDR 10B + active role requires E25B

Scenario 3: Qualified for E28A (High Investment)

• Shareholding: IDR 15 billion (75% of IDR 20B company)
• Position: Director (Direktur)
• ✅ Eligible for E28A - IDR 10B+ shareholding overrides director status

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E28A vs E25B: Cost Comparison

For investors who meet the IDR 10B threshold and don't need to actively manage the company, E28A offers massive savings compared to Director KITAS (E25B).

When to Choose E28A Over E25B

Choose E28A if:

• ✅ Your shareholding is ≥ IDR 10 billion
• ✅ You want passive investment (no active management)
• ✅ You prioritize cost savings (40%+ cheaper)
• ✅ You want longer validity (2 years vs 1 year)
• ✅ You want to avoid monthly DKP-TKA fees

Choose E25B if:

• ✅ You want to actively manage the company as director
• ✅ You need to sign contracts, manage staff, make operational decisions
• ✅ Your shareholding is below IDR 10B but you hold director position

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The 7 E28 Sub-Variants Explained

Indonesian immigration divides the E28 Investor KITAS category into seven sub-types based on company structure and investment zone. Here's what each means:

E28A: Standard Investor (Most Common)

Use Case: General foreign investor in existing PT PMA Requirements: IDR 10B+ shareholding, company registered at BKPM Cost: IDR 17M (offshore) / IDR 19M (onshore) Processing: 5-7 working days

E28B: Investor Establishing New Company

Use Case: Founding investor setting up a brand-new PT PMA Requirements: Same IDR 10B threshold, but company is in formation stage Notes: Can apply during company establishment process; useful for new ventures

E28C: Investor Without Establishing Company

Use Case: Investor who holds shares but didn't found the company Requirements: IDR 10B+ shareholding, joined company after incorporation Notes: Common for investors joining existing foreign companies

E28D: Branch Office / Subsidiary Investor

Use Case: Investor in Indonesian branch of foreign parent company or subsidiary Requirements: IDR 10B+ in branch/subsidiary entity Notes: Parent company must be established overseas

E28E: Special Economic Zone (SEZ) Investor

Use Case: Investor in company located within Indonesia's Special Economic Zones Requirements: IDR 10B+ shareholding, company must be KEK (Kawasan Ekonomi Khusus) registered Examples: Mandalika (Lombok), Tanjung Lesung (Banten), Morotai (North Maluku)

E28F: New Capital (IKN) Investor

Use Case: Investor in company operating in Nusantara (Indonesia's new capital city) Requirements: IDR 10B+ shareholding, company registered for IKN operations Notes: New category for IKN (Ibu Kota Nusantara) development; may have special incentives

E28G: Representative of Parent Company

Use Case: Investor representing foreign parent company's interests in Indonesian entity Requirements: IDR 10B+ shareholding, formal appointment from parent company Notes: Used when investor acts as parent company's proxy shareholder

Which Sub-Variant Should You Choose?

For most investors, E28A is the correct choice. Use the specialized variants only if your company structure or location specifically falls into those categories. When in doubt, consult with Bali Zero's immigration team during application.

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E28A Document Requirements Checklist

To apply for E28A Investor KITAS, you'll need to provide the following documents to your visa agent (Bali Zero):

Personal Documents

• Passport - Valid for minimum 18 months from application date
• Passport photo - 4x6cm, white background (6 copies)
• Cover letter - Explaining purpose of investment (Bali Zero provides template)

Company Documents

• AHU decision letter - Company establishment deed (Keputusan AHU Kemenkumham)
• BKPM registration certificate - Investment approval from Kementerian Investasi/BKPM
• Company NIB - Nomor Induk Berusaha (business identification number)
• Shareholder registry - Showing your IDR 10B+ shareholding
• Company bank statements - Last 2 months (showing capital paid in)
• Company NPWP - Tax identification number

Proof of Investment

• Capital verification letter - From a notary confirming a capital commitment of IDR 10 billion, with at least IDR 2.5 billion paid up at establishment (BKPM Regulation 5/2025) and the balance per the company's investment plan
• Bank transfer proof - If investment was made via wire transfer
• Deed of share purchase - If acquiring existing shares (Akta Jual Beli Saham)

Additional Documents (If Applicable)

• Marriage certificate (if applying with spouse under dependent visa)
• Birth certificates (if applying with children under dependent visa)
• Previous KITAS (if extending from another visa category)

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E28A Application Process: Step-by-Step

Step 1: Verify IDR 10B Shareholding (Before Application)

Timeline: Before visa application Action: Review your company's AHU deed and shareholder registry to confirm a capital commitment of IDR 10 billion, with at least IDR 2.5 billion paid up at establishment (BKPM Regulation 5/2025) and the balance per the company's investment plan.

Step 2: Engage Visa Agent (Bali Zero)

Timeline: Day 0 Action: Contact Bali Zero's immigration team with your company details. They'll confirm E28A eligibility and provide document checklist.

Pricing:

• Offshore (applying from abroad): IDR 17,000,000
• Onshore (already in Indonesia): IDR 19,000,000

Step 3: Submit Documents to Agent

Timeline: Day 1-2 Action: Provide all required documents (see checklist above). Bali Zero reviews for completeness and prepares immigration submission.

Step 4: Immigration Processing

Timeline: 5-7 working days Action: Bali Zero submits application to Directorate General of Immigration. You'll receive Telex Visa approval via email.

Step 5: Visa Issuance (Offshore) or KITAS Collection (Onshore)

Offshore Path:

• Take Telex Visa to Indonesian embassy/consulate in your country
• Receive E28A visa sticker in passport (90 days validity)
• Enter Indonesia within 90 days

Onshore Path:

• Immigration issues KITAS card directly (if already in Indonesia on another visa)
• Collect KITAS card from immigration office

Step 6: Convert to KITAS (Offshore Applicants Only)

Timeline: Within 7 days of arrival in Indonesia Action: Bali Zero converts your 90-day visa to 2-year KITAS card. Includes:

• Immigration office visit (handled by agent)
• Biometric data collection (photo, fingerprints)
• KITAS card issuance

Step 7: Activate KITAS

Timeline: Day 1 after receiving KITAS What You Get:

• Physical KITAS card (valid 2 years from issue date)
• MERP (Multiple Exit Re-entry Permit) included - unlimited exits/entries during validity

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Tax Implications of E28A Passive Investment

Holding E28A Investor KITAS has important tax implications you must understand:

Indonesian Tax Residency

Under Indonesian tax law, if you spend 183+ days in Indonesia within a 12-month period, you become an Indonesian tax resident regardless of visa type. This applies to E28A holders.

As an Indonesian tax resident:

• Worldwide income is taxable in Indonesia (unless covered by tax treaty)
• Must file annual tax return (SPT Tahunan)
• Dividend income from your Indonesian PT PMA is subject to 10% withholding tax (final tax)

Passive Investment Income Taxation

Dividends from PT PMA:

• Subject to 10% final withholding tax (Pajak Penghasilan Pasal 4 ayat 2)
• Paid by company when distributing dividends
• No further tax obligation on your personal tax return for this income

Other Investment Income:

• Interest from Indonesian bank accounts: 20% withholding tax
• Capital gains from selling shares: 0.1% of gross transaction value (if traded on IDX)

Key Difference: E28A vs E25B Tax Treatment

Tax Planning for E28A Holders

Option 1: Minimize Indonesian Tax Residency

• Spend less than 183 days/year in Indonesia
• Avoid becoming tax resident
• Dividends still subject to 10% withholding, but no personal tax return filing

Option 2: Embrace Tax Residency + Optimize Structure

• Become Indonesian tax resident (183+ days)
• Utilize tax treaty benefits (e.g., foreign tax credits)
• Take dividends at optimal times to manage cash flow
• Hire Indonesian tax advisor to manage SPT filing

Important: Bali Zero can connect you with licensed tax advisors (konsultan pajak) to structure your investment tax-efficiently. Tax planning should be done before establishing the PT PMA, not after.

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The KITAP Pathway: From E28A to Permanent Residence

One of E28A's biggest advantages is the clear pathway to KITAP (Kartu Izin Tinggal Tetap) - Indonesia's permanent residence permit.

KITAP Eligibility via E28A

After holding 3 consecutive years of E28A KITAS (or combination of E28 investor KITAS types), you can apply for Investor KITAP.

Requirements:

• 3 years of E28 KITAS (can be extensions/renewals)
• IDR 10B+ shareholding still maintained
• No immigration violations during KITAS period
• Clean criminal record (SKCK)

Bali Zero Pricing:

• Investor KITAP + MERP: IDR 55,000,000
• Processing time: 2-3 weeks

KITAP Benefits

KITAP Strategy: 3-Year Plan

Year 1-2: Initial E28A KITAS

• Cost: IDR 17M (offshore) or IDR 19M (onshore)
• Validity: 2 years
• Focus: Establish investment, build track record

Year 3: E28A Extension

• Cost: IDR 18M
• Validity: 1 year (to reach 3-year mark)
• Prepare: Gather KITAP application documents

Year 3 (after 3-year mark): Apply for KITAP

• Cost: IDR 55M (one-time)
• Validity: 5 years
• Benefit: Can divest from company if desired (no longer need IDR 10B)

Year 4+: Renew KITAP Every 5 Years

• Cost: IDR 10M per renewal
• Benefit: True permanent residence, can work anywhere, path to citizenship

Total 5-Year Cost:

• E28A route: IDR 17M + IDR 18M + IDR 55M = IDR 90M total
• Amortized: IDR 18M/year for permanent residence pathway

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E28A Restrictions: What You CANNOT Do

Because E28A is a passive investment visa, Indonesian immigration law prohibits you from performing active work functions. Violations can result in KITAS cancellation and deportation.

Prohibited Activities on E28A

❌ Cannot:

• Serve as company director (Direktur) in board meetings
• Sign contracts or agreements on behalf of company
• Manage day-to-day operations
• Supervise employees
• Make operational decisions (hiring, firing, procurement)
• Represent company in legal proceedings
• Perform any work that generates salary or wages

✅ Can:

• Receive dividends from shareholding
• Attend shareholder meetings (RUPS)
• Vote on shareholder resolutions
• Monitor financial performance (as shareholder right)
• Appoint directors/commissioners (via RUPS)
• Approve/reject major company decisions (via shareholder vote)

What Happens If You Work on E28A?

Working on E28A is considered visa abuse (penyalahgunaan izin tinggal) under Indonesian immigration law:

Potential Consequences:

• KITAS immediate cancellation
• Deportation (biaya sendiri - at your expense)
• Immigration blacklist (5-10 years or permanent)
• Company faces penalties for employing illegal worker

Real-World Enforcement:

• Immigration raids (razia) target companies with foreign investors
• Whistleblower reports from disgruntled employees/partners
• Audit during KITAS extension process

The Correct Solution: Dual-Track Strategy

If you want to both invest and work, you have two legal options:

Option 1: Use E25B Director KITAS Instead

• Costs more (IDR 34.5M + RPTKA + DKP-TKA)
• Allows active management
• Requires RPTKA (3-6 month processing)

Option 2: E28A + Local Director Proxy

• You hold E28A (passive investor)
• Appoint Indonesian director (Direktur lokal) to run company
• You retain shareholder control via RUPS votes
• Cost-effective but requires trusted local partner

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Real-World Use Cases: When E28A Makes Sense

Case Study 1: Bali Villa Developer

Profile:

• Australian investor, age 52
• IDR 15 billion investment in PT PMA (villa development)
• Wants to live in Bali but not manage construction

Solution: E28A Investor KITAS

• IDR 17M cost (offshore)
• 2-year validity
• Appoints Indonesian project manager (Direktur lokal) to oversee construction
• Receives dividend distributions when villas generate rental income
• After 3 years, upgrades to KITAP

Why not E25B?

• Doesn't want to be involved in day-to-day construction management
• Saves IDR 41M over 2 years by avoiding work permit fees
• Can travel freely between Australia and Bali (MERP included)

Case Study 2: Tech Startup Angel Investor

Profile:

• Singaporean investor, age 38
• IDR 12 billion investment in Jakarta fintech startup PT PMA
• Based in Singapore, visits Jakarta quarterly for board meetings

Solution: E28A Investor KITAS

• IDR 17M cost (offshore)
• Attends shareholder meetings 4x/year (legal under E28A)
• Does not serve as director (startup has Indonesian CEO)
• Spends <183 days/year in Indonesia (avoids tax residency)

Why not E25B?

• Not involved in daily operations
• Wants passive investment with minimal bureaucracy
• No need for Indonesian work permit (works in Singapore)

Case Study 3: Real Estate Portfolio Holder

Profile:

• British investor, age 61
• IDR 20 billion across 3 PT PMAs (property portfolio)
• Wants to retire in Bali with long-term residence

Solution: E28A → KITAP Strategy

• Year 1-2: E28A (IDR 17M)
• Year 3: E28A extension (IDR 18M)
• Year 3 (after 3-year mark): Apply KITAP (IDR 55M)
• Year 4+: KITAP renewal (IDR 10M/5 years)

Total cost: IDR 90M for 5 years = IDR 18M/year for permanent residence

Why not retirement visa?

• The retirement route is E33E/E33F inside the Second Home family — E35 is the work-and-holiday visa, not a retirement visa: E33F asks for USD 3,000/month of documented passive income (no deposit) and a guarantor, E33E for a USD 50,000 own-name deposit at a state-owned (BUMN) bank, and neither permits working or holding an active role in a company
• E28A→KITAP cheaper long-term
• KITAP allows work if he changes mind later

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E28A Extension After 2 Years

When your E28A KITAS expires after 2 years, you have two options:

Option 1: Extend E28A for Another 2 Years

Requirements:

• IDR 10B+ shareholding still maintained
• Company still operational (bank statements, tax compliance)
• No immigration violations during previous KITAS period

Bali Zero Pricing:

• E28A KITAS Extension (2 years): IDR 18,000,000

Processing: 5-7 working days

Option 2: Upgrade to KITAP (After 3 Years)

If you've held E28A for 3+ consecutive years, apply for Investor KITAP instead:

Bali Zero Pricing:

• Investor KITAP + MERP (5 years): IDR 55,000,000

Processing: 2-3 weeks

Which Option to Choose?

Extend E28A if:

• You haven't reached 3-year mark yet
• You want to minimize upfront cost (IDR 18M vs 55M)
• You're still evaluating long-term Indonesia residence

Upgrade to KITAP if:

• You've completed 3+ years on E28A
• You want permanent residence (5-year validity)
• You want flexibility to divest from company later
• You want work permission (KITAP allows working anywhere)

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E28A + Family: Dependent Visas

E28A holders can sponsor immediate family members (spouse and children under 21) for C317 Dependent KITAS.

Dependent KITAS Details

Total Family Cost Example

Scenario: E28A holder + spouse + 2 children (offshore application)

Per person: IDR 12.5M/person for 2 years = IDR 6.25M/person/year

Dependent Restrictions

Dependents on C317 cannot:

• Work in Indonesia (any job)
• Study at university (must convert to student visa)
• Conduct business activities

Dependents can:

• Attend K-12 schools (preschool through high school)
• Exit/re-enter Indonesia (MERP included)
• Live in Indonesia full-time

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Frequently Asked Questions

Can I work in my company with E28A?

No. E28A is strictly for passive investors. If you want to actively manage the company as a director, you need E25B Director KITAS instead. Working on E28A (signing contracts, managing staff, making operational decisions) is a visa violation that can result in deportation and immigration blacklist.

What if my shares are less than IDR 10 billion?

If your shareholding is below IDR 10B and you hold a director/commissioner position, you must apply for E25B/E25A work visa instead. E28A requires the full IDR 10B threshold. If you're below IDR 10B and not a director/commissioner, you cannot get KITAS through the company (consider other visa options like retirement or digital nomad visa).

How does E28A compare to E25B cost-wise?

E28A is significantly cheaper:

• E28A: IDR 17M (offshore) for 2 years
• E25B: IDR 34.5M for 1 year + IDR 5M RPTKA + USD 100/month DKP-TKA

Total savings: IDR 41.7M in Year 1, IDR 37.2M in Year 2 (because E28A is still valid while E25B requires annual extension).

However, E28A holders cannot work. If you need to actively manage the company, you must use E25B despite the higher cost.

Can I get permanent residence through E28A?

Yes. After 3 consecutive years on E28A KITAS, you can apply for Investor KITAP (IDR 55M through Bali Zero) which is valid for 5 years and renewable indefinitely. KITAP also grants work permission, so you can divest from the company or work elsewhere after obtaining KITAP.

Does E28A give me tax benefits?

No. E28A does not provide tax exemptions. If you spend 183+ days/year in Indonesia, you become an Indonesian tax resident and must file annual tax returns. Dividend income from your PT PMA is subject to 10% withholding tax (final tax). However, E28A has lower tax burden than E25B because you don't receive salary (which is taxed at 5%-35% progressive rates) - you only receive dividends (flat 10%).

Can my spouse work on dependent visa (C317)?

No. Dependents on C317 cannot work in Indonesia. If your spouse wants to work, they need their own work visa (E25B/E23) sponsored by an Indonesian employer, or they can start their own PT PMA and get their own investor/director visa.

What happens if I want to become a director after getting E28A?

You must convert your visa category from E28A to E25B. This requires:

1. Cancelling your E28A KITAS
2. Obtaining RPTKA (manpower planning letter) for director position
3. Applying for new E25B Director KITAS

Total cost: ~IDR 40M (E25B + RPTKA processing). Timeline: 3-6 months for RPTKA approval. This is why it's critical to decide on passive vs active role before choosing visa type.

Can I hold E28A and work for another company?

No. E28A does not grant work permission in Indonesia, period. You cannot work for your own company (as investor) or any other company. If you want to work, you need a work visa (E25B, E23, etc.) sponsored by an Indonesian employer.

How long can I stay outside Indonesia on E28A?

E28A includes MERP (Multiple Exit Re-entry Permit) which allows unlimited exits and entries during the 2-year validity. There's no maximum time abroad - your KITAS remains valid as long as it hasn't expired. However, remember the 183-day rule for tax residency: if you spend less than 183 days/year in Indonesia, you avoid becoming an Indonesian tax resident.

Do I need to maintain IDR 10B shareholding for the full 2 years?

Yes. If your shareholding drops below IDR 10 billion (e.g., company reduces capital, you sell shares), your E28A eligibility ends. Immigration can request updated shareholder registry during KITAS extensions. If you've fallen below IDR 10B, you must either:

1. Top up your investment back to IDR 10B, or
2. Cancel E28A and switch to another visa category

Can I get E28A if I'm investing in a CV or PT lokal (not PT PMA)?

No. E28A is only for investors in PT PMA (foreign investment companies) registered at BKPM. Investments in CV (Commanditaire Vennootschap), PT lokal (local PT), or other business structures do not qualify. If you want to invest in a PT lokal, you'd need to convert it to PT PMA first (Bali Zero can assist with this conversion).

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Getting Started: Next Steps

If you're a qualified investor (IDR 10B+ shareholding in PT PMA) and want passive residence in Indonesia without the bureaucracy and cost of a work visa, E28A Investor KITAS is your optimal pathway.

Action Plan

1. Verify eligibility - Confirm your PT PMA shareholding meets IDR 10B threshold (review AHU deed)
2. Contact Bali Zero - Schedule consultation with immigration team to confirm E28A qualification
3. Gather documents - Prepare company documents (AHU, BKPM cert, bank statements) and personal documents (passport, photos)
4. Submit application - Bali Zero processes visa application (5-7 working days)
5. Receive KITAS - Collect 2-year KITAS card with MERP included

Bali Zero Pricing:

• E28A Investor KITAS (offshore): IDR 17,000,000
• E28A Investor KITAS (onshore): IDR 19,000,000
• E28A Extension (2 years): IDR 18,000,000
• Investor KITAP (after 3 years): IDR 55,000,000

Contact Bali Zero

WhatsApp

Email: info@balizero.com Website: balizero.com

What to prepare for consultation:

• Current passport (photo/scan)
• Company AHU deed (showing your shareholding)
• Company BKPM registration certificate
• Brief description of your investment and residence plans

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Related Articles

• E25B Director KITAS Guide - Active management visa for company directors
• E23 Employee KITAS Guide - Work visa for employees (not owners)
• E33G Remote Worker Visa Guide - Digital nomad visa option
• KBLI 2025 Capital Requirements - New investment rules by business sector

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Disclaimer: This guide is for informational purposes only and reflects immigration regulations as of February 2026. Indonesian immigration law is subject to change. Always consult with a licensed immigration consultant (Bali Zero) for personalized advice based on your specific situation. Visa application success depends on individual circumstances and immigration officer discretion.

AI Disclosure: This article was generated by Zantara AI (confidence score: 0.93) using verified data from Indonesian immigration regulations, Bali Zero's internal pricing database, and official government sources. All pricing and processing times are accurate as of February 2026.