Foreigners (namely WNA in Indonesia) are generally prohibited from becoming debtors at banks in Indonesia under Bank Indonesia Regulation No. 24/7/2022 (PBI 24/7/2022), which restricts banks from providing credit or financing in rupiah or foreign currencies to non-residents. A non-resident is defined as an individual or entity not domiciled in Indonesia or residing in the country for less than one year, including members of foreign diplomatic missions.

However, there are exceptions. Banks may extend credit to non-residents engaged in specific economic activities within Indonesia, such as local currency settlement transactions, intraday overdrafts for foreign exchange transactions, or financing related to priority sectors or inclusive economic activities. These exceptions are designed to support Indonesia’s economic recovery and encourage banks to finance certain sectors of the economy.

With regard to Indonesian citizens (WNI) married to foreigners (WNA), the situation is different. According to the Marriage Law, assets acquired during marriage are considered joint property. Suppose the marriage is registered in Indonesia and there is no prenuptial agreement in place. In that case, any credit obtained by the Indonesian spouse is regarded as joint property, thereby giving the foreign spouse legal rights over the credit.

In conclusion, although foreigners are generally restricted from becoming debtors at banks in Indonesia, certain exceptions apply to those involved in specific economic activities. Additionally, Indonesian citizens married to foreigners may have their foreign spouses involved in credit agreements if the marriage is registered in Indonesia and no prenuptial agreement exists.

(Source: Hukumonline)