THE CHANGES IN COMPANY
Companies in Indonesia can undergo various changes, and these are usually reflected in their legal documents. Here are some of the common types of changes:
Shareholder Changes
Changes to corporate shareholders require approval from the General Meeting of Shareholders (GMS). The GMS must send out invitations to all shareholders, and decisions are made by those present, controlling at least 51% of the shares. If the 51% quorum is not met, another invitation must be sent out, requiring a 1/3 presence.
Altering Commissioners or Directors
Changes in commissioners and/or directors are approved by the General Meeting of Shareholders (GMS). With one director possessing an Indonesian Tax Card, an amendment to the Articles of Association by a public notary and notification to the Ministry of Law and Human Rights are sufficient
Changing Company Name
Changing a company name involves approval from the local tax office, BKPM, and the Ministry of Law and Human Rights. A new tax card and an amendment to the Articles of Association by a public notary are also necessary. Companies can go through a name change process, following regulations like a minimum of 3 words or letters and Indonesian language for PT PMA or Local PT.
Relocating Company’s Address
Changing districts requires closing the current tax office account and opening a new one in the new district. This process is time-consuming and requires compliance with existing tax obligations. Meanwhile, the process will be different if the change in domicile is in the same district, which is by submitting a domicile transfer letter to the tax office.
Indoned Consultancy provides services related to changing the company’s legal papers. You can trust us in this matter, we will assist you in making changes, starting to give perspective and consideration to your difficulties in determining document changes, of course, we can also assist in arranging these changes to completion. Our assistance for the company’s legal paper changes will always follows the system and regulations that applies in Indonesia so that you do need to worry about it. If you need further assistance and information, feel free to contact us at any time.
Disclaimer
The information provided here is based on our long experience. The process or requirement may vary depending on the specific facts and conditions. Besides, the law and regulations in Indonesia subject to frequent changes. Please contact us as your consultant to get an up to date information and accurate advice. More Information click here and You can also follow our social media accounts to see the latest information posts. please click on the following links: Facebook, Instagram, Linkedin, and Twitter.
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FAQ
In general, PMA stands for Foreign Direct Investment while PMDN stands for Domestic Direct Investment. From the perspective of the meaning, in short, PMA is an investment activity to conduct business in the territory of the Republic of Indonesia which carried out by foreign investors, both those who use foreign capital wholly or in joint ventures with domestic investors. Then, PMDN is an investment activity to conduct business in the territory of the Republic of Indonesia which carried out by domestic investors using domestic capital.
Basically, subjects in domestic investors are Indonesian citizens (WNI), Indonesian business entities, the Government of Indonesia, or regions that make investments in the territory of Indonesia. Meanwhile, foreign investors are foreign citizens, foreign business entities, and/or foreign governments making investments in the territory of the Republic of Indonesia.
With the new regulations and system changes, the process of establishing a company, both PT PMDN or PT PMA, does not take a long time. It takes at least 10-15 working days after the complete document requirements are fulfilled.
Yes. To be able to carry out the establishment process of PT PMA, the authorized capital that must be written in the deed of establishment is Rp. 10 billion excluding the value of land and buildings. In making the deed of establishment, the Notary appointed by us will provide a statement letter to the shareholders who sign that they will deposit the said amount of capital. However, the statement will usually not include the fulfillment period. After the company is established, the company will carry out investment reporting on a regular basis which will later become one of the proofs for the company's activities with its capital.
Generally, the set-up company process is divided into 2 stages. Where, the first stage is the establishment stage. Where at this stage, you will process your company's basic documents and permits, such as: deed of establishment, legalization document, Company NPWP (Taxpayer ID Card), Business Identification Number, Company Bank Account Opening and other documents according to your sector and business field. Furthermore, the second stage is the operational stage. At this stage, before and/or during your company's operations, you are required to fulfill the company's obligations. Such as, payment of related taxes, fulfilling operational permits, reporting LKPM (Investment Activity Report), BPJS Employment and Health Registration, and other obligations according to the sector and business field.
BPJS stands for Social Security Administering Board, which is a special institution tasked with administering health and employment insurance for the public, civil servants, and private employees. BPJS has 2 types, namely: BPJS Healthcare and BPJS Employment. Where every registered company that has employees is required to register its employees in the BPJS program, both BPJS Healthcare and BPJS Employment.
LKPM stands for Investment Activity Report. It is a report on the progress of investment realization and problems faced by business actors that must be prepared and submitted periodically.
Yes, you do. When you do the establishment of a company, a correspondence address is fundamental. It is needed because later all correspondence documents from the government or related agencies will be sent to your company's office/correspondence address. In addition, a company is required to have a domicile which is one of the requirements for making a deed of establishment.
Do you have a location in mind where you plan to establish your company in general? For example, are you planning to do it in Bali, such as in Kuta, Ubud, Sanur or Jimbaran area? We have several specific place references that may help you determine the location of your company office. Just please let us know.
At the stage of the company establishment process, you are not required to come to Indonesia. Although it is no required to come, you may visit Indonesia with the visa which the service we can assist you to have it.
Some process in the establishment company can be carried out by giving your power of attorney to one of our team whom handles the process of establishing your company. Our team is experienced enough in their field therefore the necessary matters will be prepared and informed to you.