Startup companies that once considered trivial have now turned into a giant company that can change the economic conditions of a country. Over time, one by one startup companies have shown their “fangs” in the era of globalization. Many startup companies have been successful, not only in this country but also in the world. However, not so many of them are aware of the importance of legalizing their companies.
Legalize your company into a private limited company
A PT (Limited Liability Company) or Nasalize Vennotschap in Dutch, is a privately-owned company with legal ownership of capital in the form of shares and bonds. Setting up a private limited company in Indonesia means establishing a PT. Before you start your own PT, learn the steps to start one, as mentioned below.
- Prepare a name for your PT of at least three words. You must not use foreign vocabulary or loan words and the name of a PT that has been used by others.
- Decide the intention and purpose of making a PT.
This is stipulated in The Article 3 of the Deed of a PT Establishment which explains that the PT was established to undertake any activities.
There are several things to note in the intent and purpose of PT, namely:
- You can choose any business fields, except those that are prohibited by the regulation.
- A business field to be run must be written on the deed of establishment of PT
- The field of business to be run must have a business license. Example if your business activity is a restaurant, then you must have Restaurant Permit
3.Determine the location of the company
It is where the PT is legally located. It is situated in the municipality/regency.
- Deposit the company’s capital
UU no. 40 of 2007 concerning Limited Liability Company requires to make PT’s Minimum Authorized Capital is Rp50 millions, and minimum 25% from Authorized Capital must be placed and paid up (Rp12,5 M).
- Determine the management of your PT
The board of the PT consists of elements of the Director and Commissioners. If there is more than one Director, one of them shall be appointed as President Director.
- Have the Deed of the PT Establishment made by the Notary
The Deed of Establishment of PT does not have to be made by a Notary who is in the same position as the domicile of PT.
- Obtain SK appointment, sworn and registered in The Ministry of Law and Human Rights Office.
- Get your company’s Domicile Letter regulated by each local government.
- Take care of the Tax ID number (NPWP) in the Tax Office near you.
In making the PT, you will get 2 (two) documents related to tax obligations, namely NPWP and Tax Registration Certificate (SKT Pajak).
- Take care of other things like:
- business license
- TDP (Corporate Registry)
- Certificate of Employment BPJS
Hire only the most reliable law firm to help you establish your PT
Setting up a private limited company in Indonesia is not your job alone. Get help from a trusted law firm to do so. One of the most reliable law firms is company-registration.co.id. Get informed deeper on the procedure of setting up a PT here.