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Company Incorporation in Indonesia

Setting up a company in Indonesia can be a daunting process at first glance, due to the numerous processes required to get the business up and running. Hence, Viettonkin Consulting wishes to shed some light on the issue by providing an overview of the requirements and processes involved in the incorporation of a foreign-owned company in Indonesia.

Overview

In Indonesia, non-resident investors can incorporate foreign-owned private limited companies (PT PMA) to the extent restricted by the Negative Investment List (list of industries restricted to foreign ownership). Any limited liability company with foreign investment is considered a PT PMA, regardless of the stake percentage of the foreign investor.

The company incorporation process in Indonesia is monitored by the Capital Investment Coordinating Board (BKPM). For any foreign-owned limited company looking to establish in Indonesia, an investment plan for at least 10 billion IDR (approximately 750,000 USD) for every business application is required to be submitted to the BKPM.

Furthermore, for PMAs engaged in the service sector (e.g. consultancy), the foreign investor is obliged to deliver a presentation to the BKPM showing a plausible investment plan with a minimum of 1.2 million USD, of which 25% is required as paid-up capital.

In the case of 100% foreign ownership, within 15 years since the start of commercial activities, the PMA must sell at least 5% of its shares to an Indonesian legal entity or individual, unless it was already formed as a joint venture with local ownership of at least 5%.

Requirements

  • A PT PMA must have at least i) one resident director ii) two shareholders and iii) one commissioner (the equivalent of a COO and can be non-resident). The foreigner who works and resides in Indonesia is required to have a legal work permit (KITAS) and a tax number (NPWP).
  • There is no restriction on business location. However, it is advisable to determine a business location beforehand, since regulations may vary depending on the district where the company is located. For example, in several locations, a resident address cannot be registered as a business address. Foreign investors also have the choice to engage the Registered Office Address (or virtual office) service of another party, and Viettonkin Consulting is able to accommodate this upon client’s request.
  • Minimum paid-up capital for a PMA is 2.5 billion IDR (25% of the minimum investment requirement), which can be proven through a Capital Statement Letter.

 

Process

Steps

Estimated Timeline (Days)

Principle License & Business License from BKPM

7

Deed of Establishment (containing the Articles of Association)
legalized by a Public Notary

1 to 2

Legalization of the legal entity status of the PT PMA by the
Ministry of Law and Human Rights

10

Domicile Letter from the local district authority

3

Tax Identification Number (NPWP) and taxable entrepreneur
confirmation (PKP) from the tax office

3

Company Registration Certificate (TDP) from the agency for
integrated licensing services (BPPT)

14

Manpower Report and Company Welfare Report from the
sub-department of the Ministry of Manpower

7

 

Viettonkin Consulting is pleased to assist clients in the whole process of company incorporation in Indonesia, including the obtaining of necessary documents and representing client in working with local authorities, as well as consulting client on statutory matters. Assisting on opening a bank account, implementing initial tax registry, and searching for suitable office locations are also part of our full-service package.

Conclusion

Establishing a company in Indonesia might seem deterring at first, due to the number of regulations and procedures involved. However, with the right local partner, these barriers can be easily overcome, and foreign investors can be rest assured that their business will be up and running in the minimum amount of time. Viettonkin Consulting, with a presence in Jakarta, Indonesia, wishes to be such a reliable partner to our clients by providing our full-package company incorporation service in Indonesia.

For more information and in-depth consulting on your specific business sector, please send an email to info@viettonkin.com.vn or our Business Development Manager, Mr. Hieu Nguyen, at hieunguyen@viettonkin.vn.

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Viettonkin JSC provides consulting services in a customer-centered approach. Our services are specially designed and tailor-made to suit various tastes of our customers who are business corporations from foreign countries. Our focus is on how to best help our clients with our Optimal Solutions and Comprehensive Package Services specifically meeting their needs.
 

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VIETTONKIN JSC

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Level 4, Naforimex Building, 40 Hai Ba Trung Street, Hoan Kiem District, Hanoi, Vietnam

Tel: +84 4 3872 8518 / 3976 1385

Hotline: +84 1886 6858
Fax: +84 4 39761547

E-mailinfo@viettonkin.com.vn

 

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Level 4, Naforimex Building, 40 Hai Ba Trung, Hoan Kiem, Ha Noi, Viet Nam

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