当投资者决定在印尼开展绿地投资时，需要综合考虑设立外商投资公司（PMA）、选择适合的经营范围（KBLI）、办理营业许可、签证申请、安排土地购买或租赁、符合环境规范、工厂建设、机器设备和原料进口、优惠政策申请、产品行销等一系列合规问题，并且保证投资能够有序、高效、合规地进行，将是一件非常有挑战性的工作。

本文旨在通过分解投资者在早期面临的一系列合规和监管问题，帮助投资者尽早建立合规认知，从根源上识别和降低合规风险，从而支持项目的可持续推进。

When investors decide to undertake a greenfield investment in Indonesia, they face a challenging array of tasks—ranging from establishing a foreign-invested company(Penanaman Modal Asing, or "PMA") and selecting the appropriate business scope ((Klasifikasi Baku Lapangan Usaha Indonesia, or "KBLI")) to securing business licenses, handling visa applications, arranging land acquisition or leasing, ensuring environmental compliance, constructing the plant, importing machinery and raw materials, applying for incentive policies, and managing product marketing. Ensuring that the investment proceeds in an orderly, efficient, and compliant manner is a complex undertaking.

This article aims to break down the compliance and regulatory issues investors encounter in the early stages support the sustainable advancement of projects by; it seeks to help investors build compliance awareness from the outset and identify and mitigate compliance risks at their source.

绿地投资项目的初始阶段是在印尼设立 PMA 公司。公司设立前，投资者需要确定以下关键事项：

•公司名称；

•公司地址；

•股东结构及构成；

•外资持股比例；

•授权资本、已发行资本及实缴资本；

•董事会和监事会的组成；

•公司深层治理结构；

•公司宗旨、目标及经营活动；以及

•出资来源及出资方式。

投资者应确保公司结构符合适用的公司法、投资协议和投资法律法规，同时兼顾母公司的整体规划。其中，公司的经营范围KBLI确定应重点关注，因KBLI 的确定可能影响公司投资及运营的多个方面，包括：

•外资持股比例；

•投资要求；

•营业许可；

•环境义务；

•工业要求；

•产品相关义务；以及

•公司可开展的制造活动及生产工艺范围。

因此，建议投资者应当聘请专业顾问，针对其投资计划、经营活动、产品及生产工艺，开展详细的经营范围 KBLI 分析，以确保公司投资计划符合印尼当地营业的规范。需要强调，KBLI 的选择应以企业实际拟开展的经营活动为依据，不应仅依据产品名称或对投资者所在国经营活动名称的字面翻译。

公司设立应被视为投资合规路线图的起点，而非仅仅是在公证人面前办理的一项行政设立程序。若公司架构在初始阶段设计不当，项目推进后可能需要修改公司文件、OSS 数据、许可证、投资数据或其他相关记录，甚至需要取消或者增加若干许可。

The initial phase of a greenfield investment is the establishment of a PMA company in Indonesia. Before incorporation, investors need to determine several key aspects, including:

•Company name;

•Company address;

•Shareholder structure and composition;

•Percentage of foreign ownership;

•Authorized, issued, and paid-up capital;

•Composition of the Board of Directors and Board of Commissioners;

•Deep corporate governance;

•Objectives, purposes, and business activities; and

•Source and form of capital injection.

At this stage, investors should ensure that the proposed corporate structure in Indonesia complies with applicable corporate laws, investment laws and investment agreement, while also taking into account the overall structure of the corporate group. For example, the capital structure should be aligned with subsequent investment plans and licensing processes.

It is crucial that the selected KBLI accurately reflect the substance of the business activities, as this may affect multiple investment and operational aspects of the company, including:

•Foreign ownership;

•Investment requirements;

•Business licensing;

•Environmental obligations;

•Industrial requirements;

•Product-related obligations; and

•The scope of manufacturing activities and production processes the company may undertake.

Therefore, it is recommended that investors engage professional advisors to conduct a detailed KBLI analysis regarding their investment plans, business activities, products, and production processes, ensuring that the investment plan complies with local Indonesian regulations governing business operations. It must be emphasized that the selection of KBLI codes should be based on the business activities the enterprise actually intends to undertake, rather than solely on product names or literal translations of activity names used in the investor's home country.

Company establishment should be viewed as the starting point of an investment compliance roadmap, rather than merely an administrative process handled before a notary. A poorly designed structure at the outset can later trigger the need to amend corporate documents, OSS data, licenses, investment data, or other records once the project is already underway.

印尼公司营业许可制度与经营风险分类息息相关。根据《2025 年第 28 号政府条例》（Government Regulation No. 28 of 2025，简称“GR 28/2025”），该制度涵盖基本要求、营业许可（PB）、支持经营活动的营业许可（PB UMKU）、OSS 服务、监督、评估及制裁。

公司设立后，应通过 OSS 系统办理登记及相关许可手续，以取得商业识别号（NIB）。然而，取得 NIB 并不意味着项目所需的全部许可要求均已满足。需要满足的许可类型和监管要求取决于具体经营活动及其相应的风险等级。

根据经营活动的性质，可能还需要满足以下要求：

•满足经营活动标准；

•行业主管部门许可；

•环境审批；

•建筑要求；

•工业要求；

•产品认证；

•与进口相关的要求；以及

•支持经营活动的营业许可（PB UMKU）。

NIB 是进入印尼营业许可体系的重要起点，但其本身并不当然构成项目所需的全部许可证或审批要求。因此，公司应在项目进入建设和采购阶段之前，识别并落实适用的基本要求、PB、PB UMKU 以及相关行业主管部门许可。

Indonesia has adopted a risk-based business licensing system. Under Government Regulation No. 28 of 2025, this system encompasses basic requirements, Business Licensing (Perizinan Berusaha, or "PB"), Business Licensing to Support Business Activities (Perizinan Berusaha untuk Menunjang Kegiatan Usaha, or "PB UMKU"), OSS services, supervision, evaluation, and sanctions.

After the company is established, it should register and process licenses through the OSS system to obtain a Business Identification Number (NIB). However, obtaining an NIB does not mean that all project licensing requirements have been satisfied. The types of licenses and requirements that need to be met depend on the specific business activities and the risk level assigned to each.

Depending on the nature of the business activities, additional requirements may include:

•Fulfillment of business activity standards;

•Sectoral licensing;

•Environmental approval;

•Building requirements;

•Industrial requirements;

•Product certification;

•Import-related requirements; and

•PB UMKU.

The NIB serves as an entry point into the Indonesian licensing system; it does not necessarily constitute all of the licenses or approvals required for the project. Therefore, the company should identify all applicable basic requirements, PB, PB UMKU, and relevant sectoral licenses before the project enters the construction and procurement stages.

公司设立前后，会陆续派遣人员前往印尼，开展公司前期准备工作，签证办理首当其冲。目前，中资企业中普遍存在签证不合规问题，一旦签证风险暴露，将会导致“梦魇”缠身，严重影响投资信心和相关工作进度。

投资者在处理签证合规问题时，应当谨慎控制签证合规风险，并综合考虑以下因素：

•签证办理时本地人员配置问题；

•签证类型与签证人员的匹配性；

•签证资料的合规准确性；

•谨慎使用投资签证和旅游签证；

•担保人信息真实准确；

•签证地址真实准确；

•签证信息严格保密；

•签证合规使用；

•避免签证使用的高风险行为；

•签证风险的预案设定。

Right after the establishment of company, personnel will be dispatched to Indonesia to carry out preliminary preparations, visa processing would be the first priority. Currently, non-compliance of visa is a common issue among Chinese-related enterprises; once visa risks expose to immigration authority, the authority may come frequently, which will severely undermine investor confidence and disrupt project progress.

When addressing visa compliance, investors should prudently manage associated risks and take the following factors into account:

•Acquire Local staff as HR or senior assistant before visa processing;

•Choose the right type of visa for each personnel;

•Accuracy and compliance of visa documentation;

•Be careful regarding the use of investment visa and tourist visa;

•Authenticity and accuracy of sponsor information;

•Authenticity and accuracy of addresses provided for visa purposes;

•Strict confidentiality of visa information;

•Use visa in a compliance way;

•Avoid the high-risk behavior when use visa;

•Make Contingency plan for visa risks.

在绿地投资项目中，工厂选址是应在早期阶段重点处理的关键事项之一。公司在开始购买和建设之前，需要对土地和/或厂房进行详尽的法律尽职调查，并且重点关注如下问题：

•土地所有权或土地使用权；

•相关税收和费用缴纳情况；

•相邻权问题清晰；

•是否符合适用的空间规划及分区要求；

•选址是否与拟开展的经营活动相适应；

•工业园区要求（如适用）；

•取得建筑施工批准（PBG）情况；

•功能适宜性证书（SLF）情况；

•公用设施的可获得性及相关要求；

•环境因素；以及

•与选址及项目活动相关的其他要求。

为避免重大投资风险，投资者应在购买或租赁土地/厂房前，应当进行尽职调查，确认工厂权属清晰，且在法律和监管层面具备可行性。

In a greenfield investment project, determining the factory location is one of the critical issues that should be addressed at an early stage. Before construction commences, the company needs to review:

•Land ownership or land use rights;

•Tax and government fee payment status;

•Adjoin rights of land ownership

•Spatial planning compliance (zoning);

•Location compatibility with the planned business activities;

•Industrial estate requirements (if applicable);

•Building Approval (Persetujuan Bangunan Gedung, or "PBG");

•Certificate of Functional Worthiness (Sertifikat Laik Fungsi, or "SLF");

•Availability of and requirements for utilities;

•Environmental aspects; and

•Other requirements related to the location and project activities.

To avoid investment risks, investors should conduct legal due diligence before purchasing or leasing land or factory premises, verifying ownership and confirming legal and regulatory feasibility.

印尼的环境合规，主要包括AMDAL、UKL-UPL、RKL-RPL 和SPPL，适用于不同的场景，合规难度依次降低，其中RKL-RPL是指工业园区内的环评审查。投资者应结合经营活动的性质、项目选址、生产能力、原材料、生产工艺、排放源、废物种类及废水量等因素，识别并遵守适用于该项目的环境要求。这些要求可能包括：

•环境审批；

•废水管理；

•大气排放控制；

•B3 废物（危险和有毒物质）及非 B3 废物管理；

•锅炉排放控制（如适用）；

•发电机组管理；

•其他排放源管理；

•环境监测；以及

•技术审批（如适用）。

例如，运营锅炉的工厂可能需要分别处理职业健康与安全要求以及环境排放控制要求，因为二者可能适用不同的监管标准、主管机关和合规程序。

Environmental compliance in Indonesia primarily encompasses AMDAL, UKL-UPL, RKL-RPL, and SPPL; these apply to different scenarios and entail progressively lower levels of compliance complexity, with RKL-RPL specifically referring to the environmental impact assessment review for industrial parks. Before commencing operations, investors should identify and comply with the environmental requirements applicable to the project, take into account the nature of the business, site selection, production capacity, raw materials, emission sources, waste types, and wastewater volumes and the manufacturing processes to be adopted. These requirements may include:  

•Environmental Approval;

•Environmental Management Plan–Environmental Monitoring Plan (Rencana Pengelolaan Lingkungan Hidup–Rencana Pemantauan Lingkungan Hidup, or "RKL-RPL") documents;

•Management of wastewater;

•Air emission control;

•Management of B3 waste (hazardous and toxic materials) and non-B3 waste;

•Boiler emission control (if applicable);

•Management of other emission sources;

•Environmental monitoring; and

•Technical approvals (if required).

For example, a factory operating a boiler may need to address occupational health and safety requirements separately from environmental emission control requirements, as these two areas may be subject to different regulatory standards, competent authorities, and compliance procedures.

印度尼西亚为吸引外资，提供了各类优惠政策，包括机器设备进口、原材料进口、税收优惠、天然气使用等。但由于相关优惠政策申请具有一定的专业性，导致很多企业错失机会。

机器设备作为工厂运营的重要组成部分，印尼设有“Masterlist”优惠制度。在符合适用法律法规规定的条件下，符合资格的进口机器设备可享受多项优惠，其中包括免征进口关税、增值税、预提所得税等税费。

为申请该项优惠，公司需要确保拟进口的机器设备与其投资计划及经营活动保持一致，并准备机器名称、技术规格、HS 编码、采购信息、运输信息、生产工艺等一系列材料，以获取政府审批。此外，也需要统筹 Masterlist 申请与进口流程的时间安排。公司应确保相关优惠申请、拟进口机器设备的审批以及进口实施均符合适用法规规定的要求和期限。

除Masterlist以外，也可以申请原材料进口免税、其他税务减免、公共事业费用减免。本文篇幅所限，无法一一列举所有优惠政策，投资者可自行或委托专业顾问进行详尽调研和申请。

Indonesia offers various incentive policies covering areas such as the import of machinery and raw materials, tax incentives, and natural gas usage and etc. However, application process requires language ability, understanding of the policy and government system, and the expertise to prepare documents,  therefore many enterprises have missed opportunities.

Machinery is one of the essential components of factory operations. To support investment activities, Indonesia provides for a "Masterlist" facility under which eligible imported machinery and equipment may benefit from certain fiscal incentives, including an exemption from import duty, value added tax and income tax as well subject to the applicable laws and regulations.

To apply for this facility, the company needs to conduct an analysis to ensure consistency between the machinery to be imported and its investment plan and business activities, covering details such as the machinery description, technical specifications, production flow, HS codes, purchase documents, logistics and other relevant information. Another crucial aspect is planning the timeline for the Masterlist application and the import process. The company should ensure that the facility application, the approval process applicable to the proposed machinery, and the execution of the import all comply with the requirements and timelines stipulated under the applicable regulations. 

Apart from Masterlist, company can also apply raw material Masterlist, tax facility, and allowance for public utilities. Though it is not possible to list all incentive policies in this single article, investors may conduct detailed research and submit applications themselves or engage professional consultants to do so.

合规并不止于公司设立、营业许可和工厂准备工作。企业生产的产品同样需要进行合规评估，以确保符合印尼适用的要求和标准。根据产品的类型和特性，相关要求可能包括印尼国家标准（SNI）、本土成分（TKDN）、产品认证、技术标准、质量要求、标签要求或其他行业特定要求。

公司即使已依法设立并取得必要的营业许可，特定产品在生产、流通或销售之前，仍可能需要满足额外要求。因此，产品合规应自生产规划阶段起即纳入考量，而不应等到生产开始后才予以处理。

投资者有必要逐项产品开展合规评估，并综合考虑每种产品的特性、功能、材料及预期用途。

Compliance does not end with company establishment, business licensing, and factory readiness. The products manufactured also need to be reviewed to ensure they meet the requirements and standards applicable in Indonesia. Depending on the type and characteristics of the product, these requirements may include Indonesian National Standards (Standar Nasional Indonesia, or "SNI"), TKDN, product certification, technical standards, quality requirements, labeling, or other sectoral requirements.

A company may be legally established and hold all necessary business licenses, yet certain products may still be subject to additional requirements before they can be produced, distributed, or marketed. Accordingly, product compliance should be considered from the production-planning stage, rather than being addressed only after production has commenced.

Compliance assessments should be conducted on a product-by-product basis, taking into account each product's characteristics, functions, materials, and intended use.

在印尼开展绿地投资为外国投资者带来机遇，然而，项目成功并不仅取决于建设生产设施和开展经营活动。合规工作应自投资流程伊始即予以规划，并纳入项目整体路线图——从设立 PMA 公司、确定经营活动及适用 KBLI、办理 OSS 相关手续和营业许可，到签证合规、工厂选址、环境合规、申请和利用一系列投资激励政策，以及确保拟销售产品符合适用要求。

根据参与类似项目的经验，监管方面的挑战往往并非源于公司缺少必要许可，而是源于项目不同阶段之间的不匹配——例如 KBLI 与实际生产活动不一致、选址与适用许可要求不匹配、机器设备与投资计划脱节，或产品未能符合现行技术要求。因此，采取预防性合规（preventive compliance）方法至关重要，以便在潜在问题进一步演变为项目延误、额外成本，或在投资实施后不得不进行调整之前，及早识别并解决相关问题。

对于考虑将印尼作为制造基地的外国投资者而言，合规不应仅被视为项目实施前的最后审查环节，而应作为投资战略不可或缺的组成部分。通过适当的法规审查、对各项许可程序的有效协调，以及对经营活动变化的定期评估，投资者可以为项目在印尼以合法、高效且可持续的方式推进奠定更坚实的基础。

Greenfield investment in Indonesia offers substantial opportunities for foreign investors; however, the success of a project depends on more than the ability to construct production facilities and commence business operations. Compliance efforts should be planned from the very outset of the investment process and integrated into the overall project roadmap—which encompasses everything from establishing a PMA company, defining business activities and determining the applicable KBLI, to OSS registration and business licensing, visa compliance, factory site selection, environmental compliance, machinery and equipment procurement and importation through the Masterlist facility, and ensuring compliance of the products intended for sale.

Based on experience gained from advising on similar projects, regulatory challenges often do not stem from a company's lack of necessary permits, but from mismatches across different project phases—such as a discrepancy between KBLI and actual production activities, a mismatch between site selection and applicable permits, a disconnect between machinery and equipment and the investment plan, or a failure to align products with current technical requirements. For these reasons, adopting a preventive compliance approach is crucial to identify and resolve potential issues at an early stage before they escalate into project delays, additional costs, or necessitate adjustments after the investment has been implemented.

For foreign investors considering Indonesia as a manufacturing base, compliance should be treated as an integral part of the investment strategy itself rather than merely as a final checkpoint. Through proper regulatory review, effective coordination across various licensing processes, and regular assessment of evolving business activities, investors can lay a more solid foundation for advancing their projects in Indonesia in a lawful, efficient, and sustainable way.

主要法规与监管依据：

•《投资法》——2007 年第 25 号法律

•《有限责任公司法》——2007 年第 40 号法律

•《基于风险的营业许可实施条例》——2025 年第 28 号政府条例

•适用的 KBLI 分类

•工业园区相关规定（如适用）

•排放标准（如适用）

•与环境管理、排放、废水以及危险和有毒（B3）废物相关的行业法规

Key Regulations:

•Law No. 25 of 2007 on Investment

•Law No. 40 of 2007 on Limited Liability Companies

•Regulation on the Implementation of Risk-Based Business Licensing (Government Regulation No. 28 of 2025)

•Applicable KBLI classifications

•Industrial estate regulations (if applicable)

•Emission standards (if applicable)

•Sectoral regulations relating to environmental management, emissions, wastewater, and hazardous and toxic (B3) waste