Indonesia Company Incorporation Services
CV GLOBAL BISNIS INDOENSIA understand why Indonesia is drawing in so much corporate interest for business incorporation in Indonesia. The opening of an Indonesia company gives investors 2 options to choose from:
Local company (PT)
Foreign owned company (PT PMA)
A Local Company (PT) in Indonesia allows only 100% local ownership. This means that the Company must be 100% own by local resident if you choose this entity. If you are planning to have foreign investor in the future, it is recommended to go for Foreign Owned Company (PT PMA) since the beginning to avoid spending extra costengaging a Notary to amend/change your company status and your existing business licenses.
For Foreign Owned Company (PT PMA), the maximum number of ownership will be determined by your businessactivities and the sector you’re involved in. There are certain restrictions where some sectors are off limits to foreigners. The restricted sectors can be found on the Indonesia Negative Investment List.
Application for Business Licence
CV GLOBAL BISNIS INDONESIA will assist on completing your business license application in Indonesia is a compulsory part of running a business in the country. This applies regardless of your company size.
The licensing requirement provides assurance that your business is indeed legal. It also assures that your businesshas met all the requirements needed and is approved by the Indonesian Government.
Some business license especially if the license is for projects tendering might require you to provide your company’s operational license and financial audited report at the time of application.
The regulation is in place to allow foreign investors better understand their investment plan. It lets the Government gaina detailed understanding of the investments made by these companies too.
In 2018, the Government introduced Regulation 24, an Electronically Integrated Business Licensing Service or Regulation 24/2018 as it’s called. The regulation is divided into 5 categories:
· Online Single Submission (OSS) System
· Business Identity Numbers (NIB)
· Licensing reform
· Business licenses
· Commercial and operational licenses
Opening Bank Account in Indonesia
About Bank Accounts Opening in Indonesia
Legal and natural persons can open a bank account in Indonesia. The most common types of accounts are:
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Savings account
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Deposit account
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Checking account
Several banks offer both foreign currency and rupiah savings account. The most common foreign currency inIndonesia is the US dollar.
For individual and corporate bank account opening inIndonesia, you must meet the following requirements:
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Completed bank application form andrelevant supporting documents
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Deed of Establishment & MOLHR Approval
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Deed of Amendment & MOLHR Approval (if any)
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BKPM Approval – Investment CoordinatingBoard Approval (for PMA company only)
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Domicile letter
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NPWP (Company Tax Number)
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Nomor Induk Berusaha (Izin Usaha, Izin Lokasi)
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List of Board of Director, Board of Commissionersand Shareholders
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Copies of identity documentation of Director,Authorized Signatories and Attorney, if any, (e.g. Indonesia ID / Passport / KITAS card or KIMS temporary stay permits, or KITAP (permanent resident license)
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Power of Attorney if your Director assignedsomeone to do the opening
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A reference from a prior bank (if any)
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Some banks may require the original and copies of documents, and some may need ID from all Directors, Commissioners and Shareholders of your company. If yourcompany has a President Director, he/she is required to sign the bank form to open the business account.
The banks may also require that the Director/PresidentDirector of the company or the power of attorney appointed by the Director/President Director to be physically present at the bank for the bank account opening process.
Local Nominee Shareholder Services in Indonesia
It is regulatory that companies in Indonesia has to appoint a local nominee shareholder either privately or through a consulting firm. However, whether or not to appoint one is an important decision to make and business owners shouldweigh the options carefully.
Advantages of Local Nominee Shareholders
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Maybe a requirement due to restrictions on foreign ownership
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Lower capital requirements for a foreign company
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Helps with certain local procedures
Need for Commissioner Services for Indonesian Companies
A company may choose to have a board of commissioners (BoC) and appoint a president commissioner to lead it.
Appointing a commissioner or commissioners is animportant decision as they act in the interests of the company and its shareholders and supervise the board of directors. Commissioners have a more passive role and are not involved in a company’s daily operations or the administrative level.
Corporate Secretary
Hiring corporate secretarial services in Indonesia helps growing SMEs with limited resources to keep up with the compliance requirements and market trends. These services help smaller businesses getaccess to the best secretaries at the lowest costs possible.
Our services allow your business to obtain unbiased decisions with no conflict of interest. The latter might happen if you have an in-house company secretary. More importantly, you don’t have to waste too much time wondering if you’re compliant with the latest regulations.
Accounting Services
Accounting services entail complete and flexible accounting solutions offered to businesses by professionals. In other words, accounting services consist of every accounting task including taxes, payroll, bookkeeping, accounting software, etc. that are required by a company running a business in Indonesia can be challenging. This is because local regulations change frequently. Sometimes these changes are so subtle you might not even notice. In addition, the competition in the business sector is also increasing; even smaller companies need to go toe to toe with bigger firms.
Offices Rental and Address
The purpose of a business address in Indonesia is for the following reasons:
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It allows you to open a corporate bank account.
· It is how you will receive your formal communications.
· It is how you will list your business on the internet.
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It is how you will receive your invoices, payments, and bills.
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It provides your business with a domain for the company website.
· It is how you will register for your permits and licenses.
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Any follow-up matters on compliance issues will be directed here. Like many other countries, Indonesia does not allow the use of residential addresses for your business
Offices Rental and Address
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