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Brief Understanding for FDI(PMA) Company Establishment

Brief Understanding for FDI (PMA) Company Establishment

First, we request Registry of Companies (ROC) in the Department of Justice to reserve the proposed company name related to the line of business.

Then we submit application Model I/PMA to BKPM/BKPMD based on the Foreign Investment Law No. 1 of 1967, as amended and also Law No. 1 of 1995 on Limited Companies. The Chairman of BKPM/BKPMD will issue a SP-PMA (Letter of Approval from the Investment Coordinating Board) within 2 (two) weeks after a complete application is received. The SP-PMA will be valid for 3 (three) years. Failure to implement the approval within this time may lead to its automatic cancellation.

Subsequent to SP-PMA issuance, the applicant will form a limited company (Perseroan Terbatas or PT). The notary will take care on the Deed of Establishment (DoE) and Article of Association (AoA) of the PMA company including statement from the notary stating that Minister of Justice (MOJ) approval is in process for opening bank a/c purpose.

After this we directly process the Company's Domicile by Village Chief and acknowledged by District Chief followed by Taxpayer Number (NPWP) from the Tax office.

Based on the available documents we open the company bank account and issue the paid up capital.

The receipt copy of the paid up is given to the notary to be enclosed in the application for MOJ approval. We will get a receipt that proved it is in process. The MOJ approval will take about 3-6 months.

Once the MOJ approval come out we submit to the Registry of Companies in the Department of Trade of Industry including the process of permanent business registration mark (TDP) and last publication in the State Gazette.

PT. BINKA CONSULTING
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