Government Regulation No. 23 of 2023 (PP 23/2023) is the Indonesian law that formally establishes the Kura Kura Bali Special Economic Zone — a 498-hectare development zone on Serangan Island, Denpasar. Signed by President Joko Widodo on 5 April 2023, it is the legal foundation on which every hotel, campus, office, and marina inside the zone now rests. If you are researching “Kura Kura Bali” in English, note that kura-kura is simply the Indonesian word for turtle — which is why the zone is widely known internationally as Turtle Island Bali, and why its developer is named PT Bali Turtle Island Development (BTID).
Most English-language coverage skips straight to the resorts and investment headlines. This explainer walks through what the regulation actually says, why the signing date matters, and what it means in practice for visitors and investors.
What Is Government Regulation No. 23 of 2023?
In Indonesia’s legal hierarchy, a Government Regulation (Peraturan Pemerintah, abbreviated PP) is an implementing regulation issued by the President to give effect to a law passed by parliament. PP No. 23 of 2023 is the specific instrument that designates Kura Kura Bali as a Special Economic Zone (Kawasan Ekonomi Khusus, or KEK) under Indonesia’s SEZ framework.
The regulation’s core function is definitional. As the official announcement put it, “with this government regulation, the Kura-Kura Bali Special Economic Zone is established.” Before PP 23/2023, Serangan hosted a long-running private development project; after it, that project became a nationally designated zone with a defined legal boundary, a mandated management structure, and access to Indonesia’s SEZ incentive regime.
Why the 5 April 2023 Signing Date Matters
President Joko Widodo signed PP 23/2023 on 5 April 2023 — the moment the zone’s legal status changed from proposal to established fact. The signature also started the clock on the regulation’s implementation mandates, most notably the requirement that the SEZ National Council appoint a business entity to develop and manage the zone within 30 days of the regulation taking effect.
For investors, the signing date is the anchor for legal certainty. Land-use functions, zone boundaries, and the developer’s mandate all trace back to this instrument, and the zone’s reported top-eight national ranking on investment performance in 2024 flows directly from that signature.
What the Regulation Establishes: 498 Hectares on Serangan Island
PP 23/2023 fixes the Kura Kura Bali SEZ at 498 hectares on Serangan Island in South Denpasar District, Denpasar City. Indonesia’s environment ministry issued the site’s initial environmental permit in 2017 for 491 hectares, later expanded to 498.
The zone’s master plan covers a mix of functions rather than a single industry:
- Hospitality and resorts — the tourism core of the zone
- Residential and mixed-use living — homes and serviced accommodation
- Commercial and retail — offices, F&B, and lifestyle developments
- Education — international schools and planned higher-education facilities
- Maritime and marine tourism — the marina and boating economy around the island
Formally, Kura Kura Bali is positioned as a tourism and creative-industries SEZ. National policy discourse has since expanded that positioning to include an international financial centre function — more on that below.
Who Runs the Zone: BTID and the 30-Day Mandate
One of the most practically important clauses in PP 23/2023 is the management mandate. The regulation required the SEZ National Council to appoint a business entity to develop and manage the zone within 30 days of the regulation’s effective date. That entity is PT Bali Turtle Island Development — BTID — which public and SEZ-focused sources consistently identify as the developer and manager of KEK Kura Kura Bali.
BTID’s corporate name is itself the clearest confirmation of the Turtle Island branding: Bali Turtle Island Development is the literal English rendering of the Indonesian name. For anyone building an English-language search around the zone, “Kura Kura Bali” and “Turtle Island Bali” describe the same place — one in Indonesian, one in translation. Our complete guide to Kura Kura Bali as Turtle Island unpacks that naming story and what the island offers visitors today.
What PP 23/2023 Means for Foreign Investors
For foreign investors, the regulation’s value is certainty. SEZ status is not a marketing label — it is a statutory designation that brings a defined legal boundary, a mandated single developer-manager, and eligibility for Indonesia’s SEZ incentive framework. That combination materially lowers the ambiguity that often surrounds land, licensing, and long-term development rights elsewhere in Bali.
The zone’s reported trajectory since the signing supports that reading. Kura Kura Bali reportedly reached 75% of its realised investment target in 2024 and ranked among Indonesia’s top eight SEZs. By the first quarter of 2026, the zone had recorded approximately IDR 1.62 trillion in realised investment and 2,146 jobs created. These are reported public figures rather than guarantees of future performance, but they indicate a zone moving from paper to construction.
If you are weighing an entry, two companion resources on this site go deeper: our Kura Kura Bali SEZ investment overview covers sectors, entry routes, and the zone’s investment logic, while our guide to business setup and incentives inside the zone explains how the SEZ framework translates into practical advantages for a company operating there.
Disclaimer: this article is general information, not legal, tax, immigration, or investment advice. Regulations and incentive schemes change, and their application depends on your specific circumstances. Always verify the current text of PP 23/2023 and any incentive rules with licensed Indonesian legal counsel, a registered tax adviser, or the relevant government agencies before making decisions.
From Tourism Zone to International Financial Centre Ambition
PP 23/2023 established Kura Kura Bali as a tourism and creative-industries SEZ, but the zone’s ambitions have since widened. Indonesia’s Financial Services Authority (OJK) and national media describe Kura Kura Bali as being prepared to become an international financial centre aimed at global investors, with an investment target reported at around IDR 104.4 trillion — roughly US$6 billion.
It is important to be precise about status here. As of mid-2026, expert commentary notes that Kura Kura Bali holds SEZ status and its associated incentives, but does not yet have a full financial-sector regulatory framework or an independent financial authority in place — those are still in progress. In plain terms: the SEZ law is done; the financial-centre law is not.
How This Law Anchors Everything Else on Turtle Island
Every practical question about Kura Kura Bali — who can lease space, what gets built next, who approves a project — routes back to PP 23/2023. The visitor experiences, business-setup pathways, and investment cases covered across this site all sit on top of the zone this regulation created, under a dual identity: Kura Kura Bali SEZ at home, Turtle Island Bali abroad.
Frequently Asked Questions
What makes an SEZ different from an ordinary tourism area in Bali?
An ordinary tourism area operates under general zoning and licensing rules. A Special Economic Zone is established by a specific government regulation — here, PP 23/2023 — with a defined boundary, a mandated developer-manager, and access to a national incentive framework, giving long-term projects a higher degree of legal certainty.
Who is BTID?
PT Bali Turtle Island Development (BTID) is the business entity identified as the developer and manager of the Kura Kura Bali SEZ, appointed under the mandate that PP 23/2023 gave the SEZ National Council. Its name is the English translation of the island’s Indonesian identity: Bali Turtle Island.
Can foreign investors participate in the Kura Kura Bali SEZ?
The zone is explicitly positioned to attract global capital — the reported international financial centre target of around IDR 104.4 trillion is framed around foreign investors. Participation structures, sector rules, and incentives depend on current regulations and your entity type, so treat any entry plan as something to confirm with licensed Indonesian counsel. Our SEZ investment guide is a practical starting point.
Is the international financial centre already operating?
No. As of mid-2026, Kura Kura Bali has SEZ status and incentives, but the full financial-sector regulatory framework and an independent financial authority are still in progress. The ambition is publicly backed, but it is a next chapter rather than a current fact.
Does “Kura Kura Bali” mean the same thing as “Turtle Island Bali”?
Yes. Kura-kura means turtle in Indonesian, so Kura Kura Bali is commonly rendered in English as Turtle Island Bali. Official branding uses “Kura Kura Bali” and “Kura Kura Bali SEZ”, while the developer’s corporate name — Bali Turtle Island Development — carries the English form.
Visiting or Investing? Talk to Us
Planning a first site visit to Serangan Island or scoping a longer-term position in the zone? Through the Juara Holding Group ecosystem, our business development desk arranges end-to-end concierge for executives and investors — VIP airport arrival, secure luxury transport, and curated Bali programmes via Bali Premium Trip — so your Kura Kura Bali trip runs as smoothly as the paperwork behind it.
Message our team on WhatsApp at wa.me/6281128590000 or email [email protected] to plan your visit, request an introduction, or ask how PP 23/2023 shapes your specific plans.