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Setting up PT Company in Indonesia

Setting up PT Company in Indonesia

Setting up PT Company in Indonesia – Not a few entrepreneurs who have spread throughout Indonesia. Some are still in the form of MSMEs, until those who already have the Company. The development of a business or business that we live will certainly be upgraded to a business entity. Business Entity can be PT, CV, Firma or other.

But the most famous and most selected by entrepreneurs in Indonesia is the establishment of PT. So for more easy Law Corner will create an article for you about Procedures, How and the requirements of the establishment of Limited Liability Company “PT”. Nowadays, in the establishment of PT government, it makes it easier to establish the limited liability company. Thus, foreign entrepreneurs can setting up PT company in Indonesia.

According to Law number 40 of 2007 on Limited Liability Companies (PT), the basic capital of PT is 50 Million with a minimum deposit of 25% as capital for the PT. Terms written in this Law sometimes become obstacles or problems for entrepreneurs who want to establish PT. Some of them want to establish a PT but only have a mediocre capital, even though they are aware of the importance of establishing a PT which is a legal entity.

Then finally the Government makes it easier for us all, the Government issued a new Rule that the amount of authorized capital of the establishment of PT depends on the agreement of its founder. This has also been described in Government Regulation No. 29 of 2016 on the Amendment of Authorized Capital of PT. although this capital requirement applies only to MSMEs only.

  1. Capital Establish Company

This authorized capital is the amount of capital included in the deed of incorporation. Paid-in capital is a capital in the form of non-cash assets that exist within the company which is then used for the company’s operations. In addition to the authorized capital and paid up capital, there are 2 other types of capital in the capital structure of Limited Liability Company “PT”.

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Namely the issued capital and paid capital. The issued capital is a capital whose amount is still deferred or incumbent for inclusion in the company, where when the establishment of the capital company is the amount included by the founder of the company. Medium paid capital is the capital embodied in the form of money or cash paid to the company.

After the Capital we have set, it’s time we set Domicile our efforts. this is for us to obtain Certificate of Domicile of Company (SKDP). but some of the entrepreneurs also clashed with the state of insufficient funds to lease office space. Because there is a Regional Regulation of DKI Jakarta No. 1 of 2014 on Spatial Detail Plan and Zoning Regulation. While SKDP is very important to obtain NPWP, TDP, SIUP, or other business permits.

Therefore, the solution that can be taken is to use Virtual Office. Virtual Office is a more cost-effective option for businesses that want to be domiciled in Jakarta. Different Domicile Requirements in each region. If you are in Tangerang and Bogor, you may use the House as your Business domicile to a certain extent. While in Depok you have to use building and Building Permit (IMB), not home. Not infrequently there are requested Nuisance Act (HO) as an additional requirement in setting up pt company in Indonesia.

  1. The Procedure of Establishment of PT

a) In establishing a PT, must use an official deed that has been made by a notary. In the deed there are things like company name, business line, address, amount of capital, and so on.

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b) Furthermore, the deed of establishment shall be signed by the Minister of Justice and Human Rights which was formerly called the Minister of Justice by fulfilling the following conditions:

  • The company is in line with public order and morality.
  • The deed of establishment of a company meets the requirements stipulated by applicable law.
  • Minimum issued and paid-up capital of 25% of authorized capital. This provision is in accordance with Act No. 1 of 1995 and Law No. 40 of 2007.

c) After obtaining the ratification from the Minister of Law and Human Rights, then Minister of Law and Human Rights has obligation to announce concerning the establishment of the Limited Liability Company in the Minutes of the Republic of Indonesia “BNRI”.

d) After it has been announced to the BNRI, the company has been legitimate as a legal entity and can start its operational activities. The cost of maintaining the establishment of Limited Liability Company (PT) is approximately 15 million depending on the business scale of the company. The fee is if using the services of a third party consultant. Establishment of PT also requires SIUP.

  1. Handling Trading Business Licenses “SIUP”

SIUP is part of setting up PT company in Indonesia. Handling SIUP is usually the same in various places. The requirements for obtaining SIUP are as follows: Fill out the SIUP filing form with stamp duty, Copy of Identification Card of the company responsible (President Director or Director), Pas Photo Director or Director (size 3 × 4), Copy of NPWP President Director or Director, Certificate of Business Domicile, Copy of certain license for certain business, Copy of certificate of incorporation and approval (letter from the Ministry of Law and Human Rights), Power of Attorney if management is authorized and ID card authorized.

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This Limited Company must have a Legal Entity, which is equalized with a person and has a wealth separate from the wealth of its founders. Thus, the PT can act out both within and before the court as well as with people, and can have its own assets. While the CV, he is a business entity that is not legal entity, and the wealth of its founders are inseparable from the wealth of CV.

The main advantage of establishing a PT is the limited liability to the capital deposited to PT. If the established PT suffers a loss, then the liability of the owner is limited to the amount of paid up capital. loss of the company does not touch personal property. In addition, under the laws and regulations, there is no limit to the length of life of a PT.

That is, as long as the PT is still able to operate, even if the owner or management has resigned or died, it can be forwarded by other shareholders. Ownership of the company in the form of shares. If a person is a shareholder of the company and wants to sell it, then that person can easily sell his shares to someone else. Everything about setting up PT company in Indonesia must follow the applicable procedures.

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