Indonesia is a country composed of an archipelago in Southeast Asia that is home to over 300 ethnic groups. It is currently the largest economy in that region and is also the world’s fourth most populous. What makes the country stand out is its economic growth and ability to develop as a middle-income country by implementing a 20-year economic development plan. This has helped the country raise its GDP per capita from $857 in 2000 to $3847 in 2017. These economic plans directly target the poor who constitute about 10% of the population.

Indonesia’s GDP is comprised of sectors that include about 46 percent services, 40 percent industry, and 14 percent agriculture; the country produces rubber, palm oil, poultry, beef,  forest products, marine products, and other farm products. Indonesians are mostly Javanese, Sundanese, Malay and Batak. Bahasa is the official language, with English, Dutch and Javanese also spoken widely. Muslims make up to 87 percent of the population.

2021
March 11Ascension of the Prophet Muhammad
March 12Cuti Bersama
March 12Cuti Bersama
March 12Cuti Bersama
March 14Bali’s Day of Silence and Hindu New Year
April 2Good Friday
May 1International Labor Day
May 12Cuti Bersama (Idul Fitri)
May 13Idul Fitri
May 13Ascension Day of Jesus Christ
May 14Idul Fitri Holiday
May 17Cuti Bersama (Idul Fitri)
May 18Cuti Bersama (Idul Fitri)
May 18Cuti Bersama (Idul Fitri)
May 26Waisak Day (Buddha’s Anniversary)
June 1Pancasila Day
July 20Eid al-Adha
August 10Muharram / Islamic New Year
August 17Indonesian Independence Day
October 19The Prophet Muhammad’s Birthday
December 24Cuti Bersama (Christmas Eve)
December 25Christmas Day
December 26Cuti Bersama (Day after Christmas Day)
  • Yayasan
  • UD (Indonesian: Usaha Dagang)
  • vof/Fa (Dutch: vennootschap onder firma)
  • Koperasi
  • mts (maatschap) (Indonesian: Persekutuan Perdata)
  • cv (Dutch: Commanditaire vennootschap, Indonesian: Perusahaan/Persekutuan Komanditer)
  • PT (Indonesian: Perseroan Terbatas)
  • PT Tbk (Perseroan Terbatas Terbuka or Perseroan Terbuka) (also in Dutch: Naamloze vennootschap, NV)
  • Corporate Tax: 25%
  • Income Tax (Lowest Marginal Rate): 5%
  • Income Tax (Highest Marginal Rate): 30%
  • VAT/GST/Sales Tax: 10%
  • Bank Negara Indonesia (State Bank)
  • Bank Rakyat Indonesia (State Bank)
  • PT Bank Tabungan Negara (Persero) Tbk.# (BTN) (State Bank)
  • Bank Mandiri (State Bank)
  • Bank Ekspor Indonesia (State Bank)
  • The Royal Bank of Scotland, before known as ABN AMRO Bank (RBS Indonesia) (Foreign Bank)
  • Bank of America, N.A.  (Foreign Bank)
  • Bank of China Limited (Bank of China Indonesia) (Foreign Bank)
  • Citibank N.A. (Citibank Indonesia) (Foreign Bank)
  • Deutsche Bank AG.  (Foreign Bank)
  • JP. Morgan Chase Bank, N.A. (Foreign Bank)
  • Standard Chartered Bank  (Foreign Bank)
  • The Bangkok Bank Comp. Ltd  (Foreign Bank)
  • The Bank of Tokyo Mitsubishi UFJ LTD.  (Foreign Bank)
  • The Hongkong & Shanghai B.C.# (HSBC Indonesia) (Foreign Bank)
  • Bank Agroniaga (Private Bank)
  • Bank Akita (Private Bank)
  • Bank Alfindo (Private Bank)
  • Bank Anglomas Internasional (Merger pending with Wishart) (Private Bank)
  • Bank Antardaerah (Private Bank)
  • Bank Artos Indonesia (Private Bank)
  • Bank Bintang Manunggal (Private Bank)
  • Bank Bisnis Internasional (Private Bank)
  • Bank Centratama Nasional (Private Bank)
  • Bank CIC (Private Bank)
  • Bank Dipo International (Private Bank)
  • Bank Ekonomi Raharja (Private Bank)
  • Bank Fama Internasional (Private Bank)
  • Bank Ganesha (Private Bank)
  • Bank Harda Internasional (Private Bank)
  • Bank Harfa (Merger pending with Bank Panin) (Private Bank)
  • Bank Harmoni International (Merger pending with Bank Index Selindo) (Private Bank)
  • Bank IFI (Private Bank)
  • Bank Ina Perdana (Private Bank)
  • Bank Index Selindo (Merger pending with Bank Harmoni International) (Private Bank)
  • Bank Jasa Arta (Private Bank)
  • Bank Jasa Jakarta (Private Bank)
  • Bank Kesejahteraan Ekonomi (Private Bank)
  • Bank Liman International (Private Bank)
  • Bank Maspion (Private Bank)
  • Bank Mayora (Private Bank)
  • Bank Mestika Dharma (Private Bank)
  • Bank Metro Express (Private Bank)
  • Bank Mitraniaga (Private Bank)
  • Bank Multi Arta Sentosa (Private Bank)
  • Bank Persyarikatan Indonesia (Private Bank)
  • Bank Prima Master (Private Bank)
  • Bank Purba Danarta (Private Bank)
  • Bank Royal Indonesia (Private Bank)
  • Bank Sinar Harapan Bali (Merger pending with Bank Mandiri) (Private Bank)
  • Bank Sri Partha (Merger pending with Mercy Corp.) (Private Bank)
  • Bank Swaguna (Private Bank)
  • Bank Tabungan Pensiunan Nasional (Private Bank)
  • Bank UIB (Private Bank)
  • Bank Yudha Bhakti (Private Bank)

Aadmi can support you with your expansion to Indonesia. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

May 13, 2021
South East Asia features some of the fastest growing economies in the world. The presence of varying landscapes and cultures make it one of the most diverse markets for bus...
May 12, 2021
As each week passes, new challenges arise for companies with global operations. Different employment laws, payroll and furlough schemes, and reopening strategies in each co...
May 11, 2021
Today, an understanding of every African market and its unique situation is crucial for entrepreneurial success. In this blog, we will be discussing some of the top African...
May 10, 2021
In December 2020, the Narendra Modi-led government made some significant changes to the Indian Labor Code. Forty of the old central laws were replaced with four major labor...