Indonesia Prepares to Become a Hub for Family Offices

•••••
Facebook
Twitter
LinkedIn


Indonesian government, under the leadership of President Joko Widodo, is taking significant steps to establish family offices within the country. Recognizing the growing demand among ultra-high-net-worth (UHNW) individuals and international investors, a new regulatory framework is being developed and is expected to be finalized by October 2024. 

This strategic move is set to position Indonesia as a premier destination for global wealth management, making it a highly attractive option for foreign investors seeking a secure and sophisticated environment to manage their private fortunes.

What Are Family Offices?

Family offices are specialized entities that cater to the complex wealth management needs of UHNW families, typically with net worths ranging from USD 50 million to USD 100 million. 

These private offices offer a wide range of services tailored to preserve and grow family wealth. While the definition of a family office may vary, the services they provide are generally comprehensive and includes:  

Scope of Services  
Investment managementPortfolio investment management
Real-estate management
Private equity and other assets
Admin servicesAsset custody and aggregation
Accounts consolidation
Records, cash flow, expenses and payroll management
Concierge services
Legal servicesLegal advisory and structuring
Trusts and fiduciary structures
Banking, investments, mergers and acquisitions
Tax servicesTax planning
Tax compliance
Tax filing
Wealth and legacy planningFamily governance/planning
Arrangement of family deeds
Next-generation education planning
PhilanthropyGrant reviews
Grantmaking
Project management  

This wide array of services offered by family offices highlights the intricate and multifaceted nature of managing significant family wealth, addressing challenges such as inflation, market volatility, and economic downturns.

Rising UHNW Population and Its Impact

Indonesia is rapidly emerging as a leading center for family offices, following the footsteps of established markets like Singapore, China, and the UAE. The surge in family offices, particularly in Asia, is driven by the fact that the region’s wealthy population is growing faster than anywhere else in the world. 

According to the Knight Frank Wealth Report 2024, approximately 35 new UHNW individuals are emerging daily, bringing the total to around 230,000—an increase of nearly 40% from 2023. With a projected growth of 38.34% between 2023 and 2028, the demand for wealth management services is expected to rise sharply.

Indonesia’s Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, has emphasized the country’s potential to establish itself as a Wealth Management Centre.

He points to Indonesia’s strong economic growth, stable political conditions, and neutral geopolitical stance as key factors that make the country an ideal choice for family offices. The Minister also estimates that Indonesia could generate up to USD 200 million from the establishment of family offices.

Why Invest in Indonesia?

Indonesia’s steady economic growth, stable political environment, and expanding market make it a prime destination for global investors. By investing in Indonesia, you can capitalize on one of the fastest-growing markets in the world, with access to a rising population of UHNW individuals and a rapidly growing middle class.

To successfully navigate the complexities of entering the Indonesian market, Seven Stones Indonesia provides comprehensive support tailored to your business needs.

Whether you’re looking to establish a new company, manage corporate finances, or secure the necessary visas and permits for business operations, our experienced team is dedicated to ensuring a seamless and successful process. 

Reach out to us today to discuss your business plan. Partner with us to unlock Indonesia’s immense potential and achieve your investment goals. 

Table of Contents

Related Post

charlesdeluvio-rRWiVQzLm7k-unsplash
Is PT PMA the right way to invest in Indonesia and Bali?
Jakarta at night
Can Jakarta Become As Liveable As Singapore?
More Than 100 Unspoiled Islands Head to Auction
100-Plus Islands Go To Auction

Popular Tags

To maintain our professional standard, we have established strong presence in the center of Jakarta and Bali to serve you better. Visit us at :

Jakarta
Noble House, 9th floor unit 2B
Jl. Dr. Anak Agung Gde Agung, Kav E.4.2 no. 2
South Jakarta – 12950

Bali
Jl. Sunset Road No. 777
Seminyak, Bali – 80361 “

We’re committed to being accessible. Find our offices in Jakarta and Bali, staffed with local experts who understand your unique needs. Also we extend our reach with our collaborative partners.
Seven Stones Indonesia
Jl. Sunset Road No.777, Seminyak, Kec. Kuta, Kabupaten Badung, Bali 80361
Seven Stones Indonesia Jakarta
Noble House, 9th Floor, Jl. Mega Kuningan Barat, RT.5/RW.2, Kuningan, Jakarta 12950
Monday Co-Working
Jl. Toya Ning II, Ungasan, Kec. Kuta Sel., Kabupaten Badung, Bali 80361
B Work Bali
Jl. Nelayan No.9C, Canggu, Kec. Kuta Utara, Kabupaten Badung, Bali 80361
Show Places
Seven Stones Indonesia
Jl. Sunset Road No.777, Seminyak, Kec. Kuta, Kabupaten Badung, Bali 80361
Open in Google Map
Seven Stones Indonesia Jakarta
Noble House, 9th Floor, Jl. Mega Kuningan Barat, RT.5/RW.2, Kuningan, Jakarta 12950
Open in Google Map
Monday Co-Working
Jl. Toya Ning II, Ungasan, Kec. Kuta Sel., Kabupaten Badung, Bali 80361
Open in Google Map
B Work Bali
Jl. Nelayan No.9C, Canggu, Kec. Kuta Utara, Kabupaten Badung, Bali 80361
Open in Google Map
×

Geocoding Error Occured.

Tried to Geocode:

Error Type:

Please be sure to follow the tutorial on how to setup the Google APIs required for the Advanced Google Map Widget.

Google Map API Key Tutorial
Please enable JavaScript in your browser to complete this form.
Name

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.