If you are a local investor or businessperson looking to start your own company, PT (Perseroan Terbatas or Limited Company) is what you can choose. There is another choice called CV, but since most people prefer PT, you would probably like to know how to set up a PT company in Indonesia.
So, how to set up a PT company in Indonesia? First of all, there are general minimum requirements to establish a PT company that you must follow, which include:
- Having two shareholders.
- Having one local director.
- Having one commissioner.
10 Things To Prepare To Set Up Your PT Company:
There are ten (10) things to prepare when it comes to setting up a PT company in Indonesia. They are:
- Three names (in total) for your PT company.
- The PT company founders’ name(s) according to their real identities.
- The place and position of your PT company through the company’s complete address.
- The amount of authorized capital for your PT company.
- The PT company’s shareholder data and the amount of issued and paid-up capital.
- The business field or the company’s purpose and objectives.
- The list of board of directors and commissioners in your PT company.
- The ID cards of the PT company founders’, which should be attached to the data collection.
- The board of directors and commissioners’ tax ID numbers (or NPWP) for your PT company. (Just like bank accounts, it is not advisable to use personal NPWP, unless you are part of the board of directors and commissioners in your PT company.)
- A Power of Attorney to help you in getting your PT company’s establishment authorized.
Your PT Company Size:
How big is your PT company going to be? In order to prepare the right amount of capital, here are the sizes based on the paid-in capital:
- Small (over IDR 50,000,000 – 500,000,000)
- Medium (IDR 500,000,000 – 10,000,000,000)
- Large (over IDR 10,000,000,000)
The Establishment Process of Your PT Company:
To establish your PT company, this is what you must do in order:
- The PT company founder(s) submit the application for the PT’s establishment.
- The Notary makes minutes of the copies of the same PT statements, before the founders (or their proxies) sign the deed of incorporation.
- The founders or the power of attorney check for mistakes on the copies from the Notary. If there are no mistakes, then proceed to the next step.
- The founders or proxies sign and submit the copies to the Notary. The Notary will make, sign, and stamp the Authentic Deed of PT Certificate.
- The Deed of Establishment (with the day, date, month, and year) as the PT company’s proof of establishment.
- The Notary will submit the Deed of Establishment to the Minister, in accordance with The PT Law Number 40/2007 about PT Company regulations.
- Obtain Legal Entity status through the Decree of The Minister of Law and Human Rights of Indonesia.
- Complete your paperwork, and your PT Company is officially established.
This is how to set up a PT Company in Indonesia. It may seem like a long process, but once you do it right, you will start your business soon.