PT PMA (Penanaman Modal Asing) or Foreign Owned Limited Liability Company (LLC) is LLC that wholly or partially owned by Foreigners and is regulated under the Foreign Capital Investment Law. Regulation of investment is arranged under Law no. 25 Years 2005 about Investment. Information about the fee for setting PT PMA in Indonesia is not widely known and socialized. This article will provide enough information about the fee for setting PT PMA in Indonesia.
Foreign investors are obliged to deposit paid-up capital based on the laws and regulations to establish PT PMA in Indonesia. Fee for setting PT PMA in Indonesia varies based on the Head of Indonesian Investment Coordinating Board (BKPM) Regulation Number 14 Years 2015 about the minimum amount of paid-up capital for establishing PT PMA in Indonesia. Due to the business field, some businesses have to deposit more minimum capita. It will also increase the fee for setting PT PMA in Indonesia.
Step for Setting PT PMA in Indonesia
- Reserving Company’s name in the Ministry of Law and Human Rights
The notary usually takes care of this reservation. The submitted name of the company has to be in The Indonesian language. Other requirements for setting up the Company’s name are regulated under the Government Regulation No. 43 Years 2011 about the procedure of company’s name submission and usage. You can contact us for more information about the fee for setting PT PMA in Indonesia which include reservation of Company’s name. The notary fee is included in the fee for setting PT PMA in Indonesia.
- Obtaining Approval for The Company’s Articles of Association
The notary also does this step. The notary will complete all the form prescribed by the Ministry of Law and Human Rights with the required information and documents. The notary will also submit all the materials needed. Obtaining the Deed of Establishment which contains the articles of association will take about 60 days. Maximumly 14 days after the completion of the supporting documents and application letter, the ministry will issue the approval of the company legal entity electronically. Contact us for more information about this step and fee for setting PT PMA in Indonesia. After this stage, you will have to obtain the Certificate of Business Domicile and Tax ID number.
- Registering the articles of association in the Ministry of Trade
After getting the Ministry of Law and Human Rights approval of the articles of association, the Company must register to the Ministry of Trade within three months of business. The Registration Certificate issued by the Ministry of Trade will be valid for five years. The notary will handle the registration of this Certificate. The information about the fee for setting PT PMA in Indonesia will also be provided by your notary or your trusted business consultant. Fee for setting PT PMA in Indonesia will vary based on many factors.
- Publishing the Articles of Association
Following the approval of Ministry of Trade and Ministry of Law and Human Right, you must submit the Articles of Association to the State Printing Office for publication. This submission is for the supplement to the state gazette. The submission must be within 14 days after approval. Fee for setting PT PMA in Indonesia will be informed by contacting us. This step is also usually handled by the notary and the fee for setting PT PMA in Indonesia can be based on the notary and the related agencies.
The fee for setting PT PMA in Indonesia includes the notary fee that will vary from one to another. The average timeline to set up a regular Limited Liability Company is about a month, but with foreign ownership (PT PMA), it may take about six until eight weeks. Hopefully, this article shich is about fee for setting PT PMA in Indonesia will be useful for you who wants to establish a Company with Foreigners.