By seeing the economic and political climate in Indonesia, many of its regulation is supporting foreign investments. There are many information in the about how long to set up a company in Indonesia that will give you enough to start your business. This article will be likely to discuss the things that investors must do to make a legal company in Indonesia. There are many steps to be prepared for how long to set up a company in Indonesia.
A business entity in the form of small business, middle or big company has to be legal. The Law will protect the company activities as long as the company does the allowed activities. The main characteristics of a legitimate company are there is a separation of owners wealth from the business entity wealth, in which makes the owner only responsible for the company assets. Here are how long to set up a company in Indonesia.
How Long to Set Up a Company in Indonesia
Here are a few steps that that will affect how long to set up a company in Indonesia :
- Submission of company name
The first thing that will affect how long to set up a company in Indonesia is the submission process of your company name. You’ll have to check if it already used first. This step is significant on how long to set up a company in Indonesia. Your notary registers the submission of the company name through Legal Entity Administration System (Sisminbakum) Kemenkumham.
- Establishment of Company Establishment Deed
This step will also give some impact on how long to set up a company in Indonesia. This deed is done by your notary with the approval of Kemenkumham. This deed contains information about the name of the company, company field, the name of the owners of capital, authorized capital, paid-up capital, company management such as who directors, directors, and commissioners.
- Establishment Company domicile certificate
The registration of this certificate will take sometimes based on where your company is. how long to set up a company in Indonesia will likely to be much affected by this process. To obtain this certificate. You will need the copy of your company establishment deed. There are other requirements that you may discuss with your notary.
- Application of Taxpayer Identification Number
To obtain NPWP, you will need a copy of the company deed and certificate of domicile. Application for registration of NPWP shall be submitted to the Head of Tax Service Office by the domicile of your company. Other requirements required are personal NPWP of Director of PT, photocopy of ID Card of Director (or photocopy of Passport for the foreign citizen, special PT PMA), SKDP, and deed of establishment of PT.
- The ratification of the Company’s Articles of Association by Kemenkumham
This application is submitted to the Minister of Justice and Human Rights for approval of the Company’s Articles of Association (deed of establishment). This document is very important if you are about to establish a company in Indonesia. This step will take sometimes to be approved and affect how long to set up a company in Indonesia.
- Submission of Trading Business License (SIUP)
SIUP is useful for your company so it can run its business activities. Application for registration of SIUP shall be submitted to the Head of Sub-Office of Industry and Trade and Cooperative of Micro Small Medium Enterprises and Trade of related city or regency by the domicile of PT. The process is about a few weeks or might be months. This step will be your consideration on how long to set up a company in Indonesia.
How long to set up a company in Indonesia can be about six months depending on how long the step is. Hopefully, this article can give you some depiction of how long to set up a company in Indonesia.