Considering the function of modern accounting services in Indonesia that may help companies to conduct its accounting activity, it is expected that this business may expand in the future.
Up to date, there are no specific regulations, obligations and requirements with re-spect to provide modern accounting in Indonesia.
Therefore, a fintech company conducting this business will only need to comply with general business license (e.g. certificate of domicile, company’s certificate and trading business license, as relevant) in Indonesia.
However by considering the procedures as stated in BI Regulations on Fintech and should the business player deems its business model can be considered as “Financial Technology”, it is possible for them to firstly register to BI as financial technology operator and follow the determined procedures i.e. registration and Regulatory Sandbox.
Please see detailed explanation on Part “1. Payment Service / Mobile Payment”, particularly on “Legal Affairs” part.
Although this type of business has not been regulated yet, the modern accounting service in Indonesia is growing and will help some companies to conduct its accounting activity. Fintechs to be aware of in this type of business include Jurna, Zahir and Akunting Mudah.