Indonesia’s International Financial Center (Pusat Finansial Internasional Indonesia or “PFII”) is intended to provide a dedicated platform for internationally oriented financial activity and investment. Its initial statutory basis is Article 248A of Law No. 4 of 2026 amending Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (“Law 4/2026”). Article 248A requires the Government to establish the PFII to support sustainable economic growth and the deepening and diversification of the national economy. It describes the PFII as an area with financial and administrative autonomy and certain legal particularities that may adopt, incorporate, apply, and/or adapt international principles and standards. The Government may establish one or more PFIIs, covering financial-sector activities, supporting activities, and activities in other sectors.[1]
Law 4/2026 is an enabling framework rather than a complete operational code. Article 248A also provides for a PFII Board and a statutory basis for special tax treatment and other facilities, while requiring the PFII’s organization to be regulated separately by law. The DPR approved the dedicated PFII Bill in plenary session on 21 July 2026. However, parliamentary approval should be distinguished from the promulgated statutory text. Accordingly, where the final PFII Law or implementing regulations cannot yet be independently verified, the institutional and commercial features discussed below are described as announced or proposed features rather than operative rules.[2]
INSTITUTIONAL FRAMEWORK AND FACILITIES
On 14 August 2026, the President announced Jakarta as the initial PFII location with Bali and other locations contemplated; and outlined an intended institutional structure comprising an Advisory Council, PFII Board, PFII Management Agency, PFII Financial Services Supervisory Authority, PFII Court under the Supreme Court, and PFII Arbitration Institution. The announcement also contemplated ad hoc judges drawn from Indonesian and international legal experts. The PFII Court and PFII Arbitration Institution are distinct dispute-resolution mechanisms: the former is contemplated as a court under the Supreme Court, while arbitration under Law No. 30 of 1999 is an out-of-court mechanism for resolving disputes pursuant to a written arbitration agreement.
Article 248A(6) provides the statutory basis for special tax treatment, special tax facilities, and other special facilities for business activities within the PFII, but does not prescribe specific rates, eligibility requirements, or durations. Official DPR materials referred to a proposed income-tax incentive of up to 0% for up to 50 years. Those figures should therefore be treated as part of the contemplated policy framework unless confirmed in the promulgated PFII legislation or applicable implementing tax regulations.
The President also announced certainty for the transfer and repatriation of capital and profits, tax facilities for qualifying activities, golden visas, competitive licensing services, and the use of English in contracts. These announced features should not be treated as fixed eligibility criteria or immediately exercisable rights absent the applicable PFII, tax, immigration, licensing, and other implementing regulations.
IMPLICATIONS FOR BUSINESSES AND INVESTORS
For businesses, the central issue is the scope of the special regime. Article 248A does not itself displace generally applicable Indonesian law; rather it establishes a special framework for activities within the PFII.. Companies must therefore determine whether a proposed entity, transaction, or activity falls within the PFII framework and how the applicable PFII rules interact with generally applicable licensing, prudential, tax, and corporate requirements. The use of international principles and standards may facilitate internationally oriented activities, but legal certainty will depend on detailed PFII rules and their interaction with the wider Indonesian legal system.
The PFII may also offer commercial advantages through tax facilities, contemplated capital-transfer and repatriation arrangements, and specialized services. The practical value of those features will depend on the applicable eligibility conditions and implementing rules. DPR discussions have specifically emphasized the need for coordination among PFII institutions and existing authorities particularly with respect to PFII supervision, management, and the establishment of financial institutions within the PFII.[3]
Businesses should also avoid assuming that PFII incentives displace ordinary compliance obligations. The Government has stated that anti-money-laundering requirements, beneficial-ownership transparency, tax obligations, and international information exchange will continue to apply. In practice, PFII structures should therefore be assessed together with those continuing compliance obligations and other applicable Indonesian laws.[4]
CONCLUSION
The PFII is intended to create a potentially significant platform for internationally oriented financial activity, but its legal framework must be read in layers. Article 248A of Law 4/2026 is the verified enabling basis; the DPR’s approval of the dedicated PFII Bill is a legislative milestone; and several institutional, tax, immigration, licensing, contractual, and capital-mobility features have been publicly announced by the Government. For businesses and investors, the practical priority is to verify the promulgated PFII legislation and implementing regulations before relying on those features in transaction structuring. “The key implementation questions will include the scope of eligible activities, licensing and supervisory allocation, tax treatment, dispute-resolution rules, capital mobility, and continuing compliance obligations.
Written by: Zuhesti Prihadini, Yibo Chen, Shelina Theodora, Lusi Amalia, dan Amanda Zafira
Photo by Dee Onederer: https://www.pexels.com/photo/dramatic-nightscape-of-jakarta-city-skyline-31097751/
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[1] Republic of Indonesia, Law No 4 of 2026 on the Amendment to Law No 4 of 2023 on the Development and Strengthening of the Financial Sector, State Gazette of the Republic of Indonesia 2026 No 62, art 248A(1)-(4).
[2] Law No 4 of 2026, art 248A(5)-(7); Secretariat General of the House of Representatives of the Republic of Indonesia (DPR RI), ‘RUU PFII Resmi Sah, DPR Targetkan Indonesia Jadi Pusat Keuangan Berdaya Saing Global’ (21 July 2026), JDIH DPR RI, accessed 26 August 2026.
[3] DPR RI, ‘Koordinasi Antarotoritas Jadi Kunci Penguatan Pusat Finansial Internasional Indonesia’ (8 July 2026), JDIH DPR RI, accessed 26 August 2026.
[4] State Secretariat of the Republic of Indonesia (n 3).
印度尼西亚国际金融中心（Pusat Finansial Internasional Indonesia，简称“PFII”）旨在为面向国际的金融活动和投资提供一个专门平台。其初步成文法依据是《关于修订〈金融部门发展与强化法〉（2023年第4号法律）的2026年第4号法律》（简称“2026年第4号法律”）第248A条。第248A条要求政府设立PFII，以支持可持续经济增长，并促进国民经济的深化和多元化。该条将PFII描述为一个具有财务和行政自主权及若干法律特殊性的区域，可以采纳、吸收、适用和/或调整国际原则和标准。政府可以设立一个或多个PFII，涵盖金融部门活动、配套活动以及其他部门的活动。[1]
《2026年第4号法律》是一项授权性框架，而非完整的操作性法典。第248A条还规定设立PFII理事会，并为特殊税收待遇和其他便利措施提供成文法依据，同时要求PFII的组织另行通过法律规范。印度尼西亚共和国国会（DPR）于2026年7月21日在全体会议上批准了专门的PFII法案。然而，议会批准应与已经颁布的成文法文本相区分。因此，在最终PFII法律或实施条例尚无法独立核实时，下文讨论的制度及商业特征仅作为已宣布或拟议的安排加以表述，而非现行有效的规则。[2]
制度框架与便利措施
2026年8月14日，总统宣布雅加达为PFII的初始设立地点，并考虑巴厘岛及其他地点；同时勾勒了拟议的制度架构，包括顾问委员会、PFII理事会、PFII管理机构、PFII金融服务监管机构、最高法院下设的PFII法院以及PFII仲裁机构。该项宣布还设想由印度尼西亚及国际法律专家担任临时法官。PFII法院与PFII仲裁机构属于不同的争议解决机制：前者拟作为最高法院下设法院；而根据1999年第30号法律，仲裁是一种依据书面仲裁协议在诉讼外解决争议的机制。
第248A条第（6）款为PFII内经营活动适用特殊税收待遇、特殊税收优惠及其他特殊便利提供成文法依据，但并未规定具体税率、适用资格或期限。DPR官方材料曾提及一项拟议的所得税优惠，即所得税税率可低至0%，期限最长可达50年。因此，除非已经颁布的PFII立法或适用的税收实施条例予以确认，上述数字应视为拟议政策框架的一部分。
总统还宣布，将为资本和利润的转移及汇回提供确定性，为符合条件的活动提供税收便利，并提供黄金签证、具有竞争力的许可服务以及在合同中使用英语等安排。在适用的PFII、税收、移民、许可及其他实施条例出台之前，这些已宣布的特征不应被视为固定的资格标准或可立即行使的权利。
对企业和投资者的影响
对于企业而言，核心问题是特别制度的适用范围。第248A条本身并不排除印度尼西亚一般适用法律；它为PFII内的活动建立了特别框架。企业必须据此判断拟设实体、交易或活动是否落入PFII框架，以及适用的PFII规则如何与一般适用的许可、审慎监管、税务和公司制度要求相衔接。采用国际原则和标准可能有助于开展面向国际的活动，但法律确定性将取决于PFII详细规则及其与印度尼西亚整体法律体系之间的衔接。
PFII还可能通过税收便利、拟议的资本转移和汇回安排以及专业化服务带来商业优势。这些安排的实际价值将取决于适用的资格条件和实施规则。DPR的讨论特别强调，PFII各机构与现有主管机关之间需要进行协调，尤其是在PFII监管、管理以及在PFII内设立金融机构等方面。[3]
企业还应避免当然认为PFII优惠会取代通常的合规义务。政府已表示，反洗钱要求、受益所有权透明度要求、税收义务以及国际信息交换将继续适用。实践中，在评估PFII架构时，应当同时考虑上述持续适用的合规义务以及印度尼西亚其他适用法律。[4]
结论
PFII旨在打造一个可能具有重要意义的面向国际金融活动的平台，但其法律框架必须分层理解。《2026年第4号法律》第248A条是已经核实的授权性依据；DPR批准专门PFII法案是立法进程中的一个里程碑；政府也已公开宣布若干有关机构、税收、移民、许可、合同和资本流动的安排。对于企业和投资者而言，实际工作的优先事项，是在交易架构中依赖这些安排之前，核实已经颁布的PFII法律及其实施条例。主要实施问题将包括：合格活动的范围、许可与监管职责划分、税收待遇、争议解决规则、资本流动以及持续适用的合规义务。
[1] 印度尼西亚共和国，《关于修订〈金融部门发展与强化法〉（2023年第4号法律）的2026年第4号法律》，《印度尼西亚共和国国家公报》2026年第62号，第248A条第（1）至（4）款。
[2] 《2026年第4号法律》第248A条第（5）至（7）款；印度尼西亚共和国国会（DPR RI）秘书长办公室，“RUU PFII Resmi Sah, DPR Targetkan Indonesia Jadi Pusat Keuangan Berdaya Saing Global”（《PFII法案正式通过，国会力争推动印度尼西亚成为具有全球竞争力的金融中心》），2026年7月21日，DPR RI JDIH，访问日期：2026年8月26日。
[3] 印度尼西亚共和国国会（DPR RI），“Koordinasi Antarotoritas Jadi Kunci Penguatan Pusat Finansial Internasional Indonesia”（《跨机构协调是强化印度尼西亚国际金融中心的关键》），2026年7月8日，DPR RI JDIH，访问日期：2026年8月26日。
[4] 印度尼西亚共和国国务秘书处，见前注3。
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