Ownership structure
The PT PMA Costs More Than Most of the Boats
A foreign buyer chartering in Indonesia holds the vessel through an Indonesian company. The maritime-sector capital requirement for that company is IDR 10 billion — around USD 650,000 — which is more than seven of the ten vessels currently on our book.
- IDR 10 bn
- Maritime-sector capital requirement
- ≈USD 650k
- At 2026 rates
- USD 153k
- Lowest-priced vessel on the book
- Or bareboat
- The alternative route
Quick answer
Foreigners buy through the correct ownership structure — typically an Indonesian entity, a PT PMA, holding the flag, or a bareboat arrangement. Which one is right depends on whether the vessel will charter, and on whether IDR 10 billion of committed capital makes sense against a hull that may cost a quarter of that.
- A PT PMA is mandatory to operate commercially under Indonesian flag.
- Bareboat is the route when the vessel is not going to charter in country.
- Counsel confirms the compliant route before any deposit moves.
Not legal or tax advice
Indonesian company, maritime and tax law change, and the right structure depends on facts specific to you. Everything on this page is orientation for a first conversation, not advice you should act on. The desk works with counsel and confirms the compliant route before any deposit moves.
The arithmetic first
Run the Capital Requirement Against the Hull
This is the sentence the previous version of this page buried in the middle: the maritime-sector capital requirement for a PT PMA is IDR 10 billion, roughly USD 650,000 at 2026 rates. Seven of the ten vessels on our book ask less than that.
That does not make the structure wrong — it makes the order of the decision matter. A buyer looking at VIP II at USD 153,000 is not choosing between two boats, they are choosing whether to commit four times the vessel price to a company. A buyer looking at VIP VI at USD 682,000 barely notices the requirement. Same route, completely different conversation.
- VIP II · 22 m USD 153,000
- Roughly a quarter of the capital requirement
- VIP III · 27 m USD 153,000
- Roughly a quarter of the capital requirement
- VIP IV · 27 m USD 553,000
- Below the requirement
- VIP V · 38 m USD 553,000
- Below the requirement
- VIP VII · 30 m USD 444,444
- Below the requirement
- VIP VIII · 25 m USD 444,444
- Below the requirement
- VIP IX · 30 m USD 444,444
- Below the requirement
- VIP VI · 38 m USD 682,000
- Above the requirement
- VIP X · 33 m USD 833,333
- Above the requirement
- VIP XI · 34 m USD 1,120,000
- The highest asking price on the book, and comfortably above it
What you actually need
Registrations, and Which Are Conditional
Not everything on the list applies to every buyer. What is required depends on whether the vessel charters commercially, and under which flag.
- Required
PT PMA incorporation
Perseroan Terbatas Penanaman Modal Asing — the foreign-investment limited company. The only vehicle through which a foreign principal can hold equity in a commercial activity operating inside Indonesia. Incorporated under the Companies Law, UU 40/2007 as amended.
Ministry of Law (AHU) · notary
- Required
NIB through OSS
Nomor Induk Berusaha, the business identification number, issued through the Online Single Submission system. This is the master registration that unlocks every licence after it.
OSS
- Required
Investment approval
The investment plan, capital schedule and intended use of investment are submitted for approval. The maritime-sector capital requirement is IDR 10 billion.
Ministry of Investment / BKPM
- Required
KBLI classification
Klasifikasi Baku Lapangan Usaha Indonesia — the activity codes the company registers under. The codes decide which sectoral licences apply and whether any foreign-equity cap bites, so they are chosen before incorporation rather than after.
Selected at incorporation
- Conditional
Sea transport operator licence (SIUPAL)
Surat Izin Usaha Perusahaan Angkutan Laut. Applies where the company carries passengers commercially by sea. Not needed if the vessel is held privately and never chartered in country.
Ministry of Transportation · DG Sea Transportation
- Required
Tax registration
NPWP corporate tax number, VAT registration, and an e-Faktur account for electronic tax invoices.
Directorate General of Taxes
- Required
Corporate banking
IDR and USD accounts at an Indonesian bank, and evidence of the paid-up capital position. Payment for the vessel is staged against milestones — offer, survey, transfer — with the beneficiary matching the contracting entity at each one.
Indonesian bank
- Required
Board appointments
At least one director, who may be a foreign national, and one commissioner. Registered through AHU.
Ministry of Law (AHU)
- Conditional
Vessel nationality certificate
Registers the hull under Indonesian flag, which is what the PT PMA structure exists to permit. Not applicable where the vessel stays under a foreign flag.
Ministry of Transportation
- Conditional
Sailing approval (SPB)
Surat Persetujuan Berlayar — port clearance obtained per voyage rather than once at setup. An operating cost and a crewing discipline, not a registration step.
Harbourmaster, per departure
Sequence and durations were removed from this list. The previous version gave a week-by-week schedule ending in "6–10 weeks" and a fixed price of USD 12,500 — neither had a source. Ask the desk for the current timeline and fee against your own structure.
Glossary
Every Acronym You Will Be Sent
Indonesian company and maritime paperwork runs on abbreviations. These are the ones that appear in a phinisi acquisition, and who issues each.
- PT PMA
- Perseroan Terbatas Penanaman Modal Asing
- NIB
- Nomor Induk Berusaha
- OSS
- Online Single Submission
- BKPM
- Investment Coordinating Board
- KBLI
- Klasifikasi Baku Lapangan Usaha Indonesia
- AHU
- Administrasi Hukum Umum
- SIUPAL
- Surat Izin Usaha Perusahaan Angkutan Laut
- NPWP
- Nomor Pokok Wajib Pajak
- SPB
- Surat Persetujuan Berlayar
The foreign-investment limited company. Holds the vessel and the flag.
Ministry of Law
Business identification number. The master registration everything else depends on.
OSS
The portal through which business registration and licensing is filed.
Government of Indonesia
Now part of the Ministry of Investment. Approves the investment plan and capital schedule.
Ministry of Investment
Standard activity classification. Decides which licences apply to your company.
Selected at incorporation
The Ministry of Law’s administration system. Registers the company and its board.
Ministry of Law
Sea transport operator licence. Applies to commercial passenger carriage.
Ministry of Transportation
Corporate tax number. Required before the company can invoice or file.
Directorate General of Taxes
Sailing approval, obtained per voyage from the harbourmaster.
Harbourmaster
Two routes
PT PMA Against Bareboat
The two compliant routes for a foreign buyer. Which one fits turns almost entirely on whether the vessel will charter inside Indonesia.
| Specification | PT PMA holds the flag | Bareboat arrangement |
|---|---|---|
| Charter commercially in Indonesia | Yes | Confirm with counsel |
| Capital commitment | IDR 10 bn, maritime sector | No company capital requirement |
| Vessel held by | An Indonesian company you own | The arrangement, not you directly |
| Indonesian flag | Yes — that is the point | Depends on the structure |
| Ongoing filings | Corporate, tax and investment reporting | Fewer |
| Best fit | A hull going into managed charter | A hull held for private use |
⚠ This comparison is orientation, not advice. The bareboat column in particular depends on facts specific to your situation and jurisdiction. Confirm both routes with counsel before committing to either.
Next in this silo
Owning and Operating
Before you commit capital
Run the Structure Before the Purchase
The capital requirement is larger than most of the book, so the structure decision comes first, not after you have picked a hull. Tell us whether she will charter and we will map both routes with counsel.
Or call +62 811-3941-4563
- Both compliant routes mapped before any deposit moves
- Counsel engaged on the structure, not just the sale
- No obligation and no fee to enquire