To start a company in the Indonesian archipelago, for sure, you are required to register your business in order to obtain a license for business. Before your legal entity is officially recognized by the masses, it is vital that you get the hang of what type of corporation consented in the country.
As you are foreign nationals, the company you will oversee is regarded as a PT PMA or Perseroan Terbatas Penanaman Modal Asing. Interestingly, regardless of the percentage of your shares in the company, be it 100% or 1%, the foreign-owned corporation is named so. This following brief about the company formation requirements in Indonesia will give you a bright idea of determining how your future PT PMA looks like. Think of Your Investment Plan The initial requirement you can’t totally brush aside is the investment plan. The scheme should display your company’s sustainability. According to BKPM (Investment Coordinating Board of Indonesia), setting up the PT PMA as well as applying a business classification requires at least 10 billion IDR (750,000 USD). If you go for more classifications, you just multiply the basic capital regulated by the local government. Whilst demonstrating your project, don’t skip out the fixed capital and working. The Paid up Capital You Need to Provide In accordance with the ordinance, the paid up capital that the foreign-owned company should prepare is around 2.5 billion IDR equivalent to 190,000 USD. In order for it to be proved, you are capable of bringing about two approaches. The early step is to let the statement letter of capital signed. The document is fraught with a statement that the shareholders have adequate funds to be injected. The second way is by transferring the finances directly to the bank account of your corporation. Provision of Shareholders The number of shareholders is one of the key company formation requirements in Indonesia. Each liability company in the nation necessitates at least two shareholders. The composition of them can be randomly placed, be it enterprises or individuals. Each shareholder is required to hold a minimum amount of money that costs 10 million IDR (751 USD). What about the organization structure at PT PMA? There are two significant appointments you can’t oversimplify – a director and a commissioner. When it comes to referring a director, we recommend you to pick the Indonesian local instead of the foreigner. Deciding the Proper Location for your PT PMA It is also essential that you specify which location that your future business is built and get the business address of yours registered. Before doing that, make sure that you figure out the condition of the domicile letter. It stipulates that the business people are not allowed to use their own house as the company’s official address. For the security reason, the office building you are occupying should have a right building license. All in all, it is such a must to take into account the basic information about company formation requirements in Indonesia when setting up a foreign-owned company. Everything should be well-prepared so that you can steer clear of fault in the future. Contact Us Now to get your legal solution for your business goals, and still comply with the prevailing laws and regulations. E: [email protected] H: +62821-1234-1235 O: +6221-80674920 CC: IGO
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June 2018
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