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The Minister of Communications and Information Rudiantara opened the first Nextikorn International Summit Indonesia on May 9, 2018 in Nusa Dua, Bali. (JP/Zul Trio Follow)
What Business To Start In Indonesia
According to the Department of Creative Economy (Bekraf) there is a 20-30 percent growth in the number of startups in Indonesia because it is supported by the high demand for digital solutions in businesses, institutions, offices and other parts.
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“There are many problems that require digital solutions that can be provided by startups. Internet access is also high in Indonesia,” Bacraf’s financial access manager Syafullah Agam said on Monday.
He said the high growth of startups will be supported by Indonesia’s large middle-income population, which is predicted to reach 140 million by 2020.
Indonesian startups classified as unicorns include Tokopedia, Buklapak, Go-Jak and Traveloka. Ride-hailing app Go-Jak has acquired Decorne power.
Saifullah said that the middle-income bracket should consider monitoring the progress of the startup’s development as potential buyers enter the financing. He added that population bonus is an important factor.
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However, he said many startups fail to grow due to a number of factors, including lack of management skills, financial problems and other technical factors.
He said the lack of credit support was blamed for the failure of startups, despite efforts to tap venture capital.
“But the government has not provided enough facilities to help raise venture capital,” Saiful said, adding that venture capital is a good solution for start-up funding. If you have these external beauties, many natural resources and beautiful people, if they are not managed well, those potentials will be wasted. Indonesia has an irresistible beauty that is difficult to miss, visitors who come first as tourists and who like to have the opportunity to run a business or spread their investment property in the country. So, how to start a business in Indonesia if I am a foreigner? What is PT? PMA? What are my rights and responsibilities with a foreign company in Indonesia? If you are not sure how to do your business in Indonesia, E-VISA Bali will answer all these questions below today.
If you want to start a business in Indonesia, you need the help of PT. PMA. What does PMA stand for?
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. It represents a type of investment by foreigners doing business in Indonesia. Under Indonesian law the business is run as a PT or limited liability company domiciled in the country. In most cases, large business units are involved in setting up a PT. PMA. Therefore, the source of funding can all come from foreign investors (foreign citizens, foreign business enterprises, or foreign governments) from joint ventures with local entrepreneurs. Additionally, business permits are another thing to consider depending on your business sector.
Indonesia is open to foreign investment. However, before you create your PT. PMA, you must ensure that your business line is classified in the open and manufacturing sector in the main investment list in Indonesia published by the BKPM (Investment Coordination Board). The list lets you know your obligations for certain business listings and other requirements.
To create PT. For PMA, foreign investors must meet a minimum investment plan of IDR10 billion. For wholesale trade businesses, food and beverage service businesses and construction services, the amount of the investment plan does not include land and buildings. Since the investment plan of the business line includes land and buildings.
On the other hand, the minimum capital you need to deposit in Bank Indonesia upon your PT establishment is IDR 10 billion. After your incorporation, you need to look after tax compliance by taking a Tax Identification Number (NPWP) for your company.
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Upon completion of your PT appointment. PMA, you can manage your business lines and activities in Indonesia, such as:
In the past almost all directors were P.T. PMAs are immigrants, and when they return to their home countries and leave the company, it is difficult to find out where they are. To avoid this situation, it is necessary to appoint a director from an Indonesian citizen. In the PT case. The PMA urges foreign managers to ensure that foreigners have a Permanent Resident Authorization Card (KITAP). This indicates that the foreigner has permanent residence in the territory of Indonesia.
A foreign company in Indonesia that appears to be a PT or limited liability company under the good law for creating jobs based on Law 21/2021 of the Minister of Justice and Human Rights, can be described in the following conditions:
3. Minutes of Declaration of PT/Minutes of Deed of Change of Establishment of PT;
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5. A confirmation letter from the founder to obtain a decision, approval or recommendation from the technical agency for PT in a specific business line or copy of the decision, approval or recommendation from the appropriate technical agency for PT in specific business sectors;
6. A confirmation letter from the founder to obtain a Taxpayer Identification Number (NPWP) and report on the receipt of the annual tax return; Now
7. A copy of the declaration letter regarding the full address of PT from the building manager or authorized agency, or an original statement of the full address of PT signed by all members of the board of directors and all producers. and members of the Selection Board of PT.
Do you have any other concerns about the process of starting a business through PT? PMA in Indonesia? Send your inquiry to info@ There is no better time than 2021 to start a business as a foreigner in Indonesia. The Indonesian government has recently implemented other business-friendly policies to improve the investment climate in the country.
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If you are a foreign entrepreneur looking to invest and start a business in Indonesia, you can be glad that today, it is getting much easier to do business in Indonesia.
If before at least two months to complete the registration of the company, the case is different in 2021. Now, a foreign entrepreneur can register his company between one and 1.5 months.
What’s more, if you plan to set up your business in Jakarta, you don’t need to file a resident company (SKDP). This law will take effect from May 2019.
If you already have a loan that fills the positions of a shareholder, manager or commissioner, Investor KITAS is available to you, and the good news is that this residence permit allows you to continue working .
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In addition, the KITAS Investor comes with great benefits including easy application and waiver of the Government Employment Allowance Fee (DPKK).
There are two options available to the KITAS account holder. As a foreign entrepreneur, you can choose whether to apply for a 1-year KITAS or a 2-year KITAS. Both types of KITAS allow you to enter and leave India as many times as your KITAS is valid.
To enjoy the benefits of Investor KITAS, you must invest at least IDR 1 billion in invested stocks. So, the company must have a capital of more than IDR 10 billion.
If the two changes described above are not enough, your business can now start working as long as it has a Business Identification Number (NIB) that can be applied for through the system Single Release (OSS), updated version has arrived. Since OSS 1.1. In other words, no additional license is required.
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45 business sectors have been added, such as call center, event organizer, travel agency (ticketing) and education and/or training (and others). For more information, contact our business advisor.
In order to run your business in Indonesia, you need to register a company. For an informal startup, you need to choose a legal entity.
The most common legal entity options available to foreign investors in Indonesia are the Foreign Limited Liability Company (PT PMA), Local Limited Liability Company (PT) and Representative Office.
Most foreign investors choose to incorporate PT PMA in Indonesia, and we will explain the details of the nature of PT PMA.
Pt And Pma Companies In Indonesia
Foreign ownership for PT PMA ranges from 1% to 100%. To learn more about foreign ownership in Indonesia, you should read the negative investment list or talk to our expert. In addition, PT PMA can employ foreign workers.
For PT PMA to operate in Indonesia, it must have one director and one commissioner (one must be Indonesian), and two shareholders (foreigner, citizen or corporation).
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