To register PMA company, 2017 is also known as foreign investment. It requires complete documents, just like when you would like to register your company in a different form in Indonesia. Although this is already the middle of 2018, some of the rules and regulations from last year are still applicable here.
There are two types of foreign investment here. One is carried out by foreign capital 100% while the other is a joint venture with the local or domestic investor. How to register PMA company 2017 (and still applicable now) can be seen here:
The Terms of License Principles of PMA Companies’ Incorporation:
- Submit the Principle Permit to BKPM to start your PMA Company. To establish it, the application must include: the company name, the company domicile, the amount of capital needed for the business, the shareholders and the business percentage they have each, and the list of board of directors and commissioners.
- Go to https://online-spipise.bkpm.go.id/ and create an account there. Fill in the application form by preparing the necessary documents for foreign founders and shareholders, individual or legal entity. These are also known as the company’s articles of association in bilingual (Indonesian and English) with its corrections. You will also need reporting and a copy of individual shareholders’ valid passports each.
- If one of the company founders is Indonesian or a legal entity of the country, they need their ID Card (KTP or Kartu Tanda Penduduk) and Taxpayer’s ID Number (NPWP or Nomor Pokok Wajib Pajak). The licensing of the company requires NPWP, SIUP, and TDP.
- Other supporting documents required include the flowchart of the company processes and raw materials required as part of the business, plus your company business description.
- Get a power of attorney to help with this matter.
- Follow the rules based on the business sector of your choice. You must also pay attention to Indonesia’s Negative Investment List because some sectors are not open to foreign investors.
- If your business needs the involvement of the local partners, you need a Cooperation Agreement or perhaps a Joint Venture, Joint Operation, MOU, and many more.
- Whatever the subject of your business is, do not forget to fill in the Investment Activity Report online. This report must be submitted every three months. If the PMA’s business performance continues and gets consistent (and is also proven by filling LKPM), then they can get their Principle Permit granted. After a year, you can apply for a Permanent Business License. This applies as well as the Trading Business License for local companies.
Other Steps to Do to Register PMA Company Like in 2017:
- Establishing your PMA Company.
- Handling the company’s domicile.
- Opening all accounts (bank and other business-related stuff) on behalf of your company.
- Getting the articles of association approved by The Ministry of Law and Human Rights.
- Getting the Company Registration Certificate maintained within two weeks (14 working days) after getting the approval of the Ministry of Law and Human Rights on the articles.
- Getting the State News administration. This takes three months.
How to register PMA Company 2017 turns out to be still the same and applicable this year. Good luck.