**As of mid-2026, a foreign-owned tourism company (PT PMA) in Indonesia needs roughly IDR 2.5 billion (about USD 150,000) in paid-up capital, while still committing to an investment plan above IDR 10 billion per business line, per location. Crucially for resorts, land and building value can count toward that IDR 10 billion. Figures are date-stamped and subject to change.**
This is one of the most-asked questions we field at the concierge desk, and the answer shifted meaningfully in late 2025. If you researched PT PMA capital rules a year ago, the numbers you saw are now partly out of date. Here is the current picture for anyone weighing a resort, villa, or island-tourism play in Raja Ampat, West Papua.
A reminder before the figures: Bali Premium Trip operates this guide as an independent broker and concierge. We are not a law firm, a licensed financial adviser, or a government office. Treat everything below as a starting map, then confirm the live thresholds with an Indonesian corporate lawyer and a notary before you wire a single rupiah.
What actually changed in late 2025?
In October 2025, Indonesia’s investment ministry (BKPM) issued Regulation No. 5 of 2025, which implements Government Regulation (PP) No. 28 of 2025. The headline change: the minimum paid-up capital for a PT PMA dropped from IDR 10 billion to IDR 2.5 billion, roughly USD 150,000 depending on the exchange rate on the day. That is a 75% cut, and it is the single biggest barrier-lowering move for foreign small-and-mid investors in years.
But — and this is where people get tripped up — paid-up capital and the investment plan are two different numbers. The second one did not fall.
Here is the distinction in plain terms:
| Concept | Current figure (mid-2026) | What it means |
|---|---|---|
| Minimum paid-up capital | IDR 2.5 billion (~USD 150,000) | Money actually deposited into the company bank account at incorporation |
| Total investment plan | More than IDR 10 billion, per KBLI, per location | The amount you formally commit to invest over time, declared in OSS |
| Land and building value | Counted toward the IDR 10B plan for accommodation/tourism | A major break for resort and villa projects (see below) |
So the IDR 10 billion threshold did not disappear. It moved from being a cash-in-the-bank requirement to being an investment-plan commitment that you realize over the life of the project and report on quarterly.
How much do tourism and resort investors really need?
For a resort or accommodation project, the math is friendlier than the raw numbers suggest, because of one specific carve-out.
Under BKPM Regulation 5/2025, businesses in short-term and long-term accommodation services — which is where resorts, villas, and guesthouses sit — are allowed to include the value of land and buildings inside the IDR 10 billion investment plan. For most other sectors, that IDR 10 billion is calculated excluding land and buildings.
What that means in practice for a Raja Ampat resort:
- Your leasehold/Hak Pakai land value and your built structures (overwater bungalows, jetty, dive center, staff housing) can be counted toward the IDR 10 billion plan.
- Given Raja Ampat land and marine-frontage development costs, a genuine resort build will frequently clear IDR 10 billion in real assets without financial engineering.
- You still need IDR 2.5 billion in actual paid-up cash deposited regardless of the plan figure.
A note on KBLI codes: the IDR 10 billion plan applies per business line (KBLI), per project location. If your PT PMA registers two unrelated activities — say, accommodation plus a separate dive-tour operation under a different code — the threshold can apply to each one independently. Two distinct KBLI codes can mean planning for two distinct investment commitments. Map your activities carefully with counsel before you lock the codes; the wrong combination inflates your obligations.
What about the 12-month capital lock and reporting?
Two operational rules matter as much as the headline numbers.
First, the capital lock. The paid-up capital deposited at incorporation generally cannot simply be transferred out for a minimum of around 12 months from the date of deposit. It can be used for verifiable operational purposes — payroll, rent, equipment bought against invoices or contracts — but it is not a parking lot you raid on day two. Plan your cash flow so the IDR 2.5 billion is genuinely working capital, not a number you intend to claw back.
Second, LKPM reporting. Every PT PMA files Investment Activity Reports (LKPM) through the OSS-RBA system, on a quarterly and annual basis. These reports show BKPM how the IDR 10 billion investment plan is being realized over time. Skipping them is one of the most common — and most avoidable — ways foreign investors fall out of good standing. Build LKPM filing into your administrative calendar from quarter one.
A quick checklist of the moving parts:
- IDR 2.5 billion paid-up capital deposited and evidenced
- Investment plan above IDR 10 billion declared per KBLI, per location
- Land and building value applied to the plan (accommodation carve-out)
- KBLI 2025 classification correct — note the migration deadline of 18 June 2026 for existing entities
- Quarterly LKPM reports filed via OSS-RBA
- 12-month capital lock respected
Does the lower capital make Raja Ampat resort investment easier?
Easier to enter, yes. Easier to succeed, not automatically.
The IDR 2.5 billion paid-up floor genuinely opens the door to a wider band of investors who previously could not commit IDR 10 billion in upfront cash. That is a real change and it is positive for boutique and mid-scale resort concepts, which is exactly the segment Raja Ampat suits — small-footprint, high-value, conservation-aligned properties rather than mass-tourism volume.
But Raja Ampat layers on its own conditions that capital rules do not address: marine conservation-zone restrictions, customary (adat) land relationships, the practical realities of building in a remote archipelago, and the entry-fee and zoning frameworks that govern tourism activity. A lower capital threshold does not soften any of those. It simply removes one financial gate.
Our honest read: the 2025 reforms could make a well-structured Raja Ampat resort PT PMA more reachable than it was, but the due-diligence burden is unchanged and arguably higher in a sensitive marine region. The capital number is the easy part.
Before you act
Every figure in this article carries a date stamp because Indonesian investment regulation moves. The numbers reflect BKPM Regulation 5/2025 and PP 28/2025 as understood in mid-2026; thresholds, carve-outs, and KBLI mappings can be revised, and exchange-rate conversions drift daily. Final decisions rest with Indonesian authorities and your own licensed advisers. Confirm the live paid-up minimum, the investment-plan rules for your specific KBLI, and the land-and-building treatment with a qualified corporate lawyer and notary before committing capital. There are no guaranteed returns in any cross-border tourism venture, and this guide does not promise any.