Are you from another country who wants to take advantage of Indonesia’s booming sports industry and wants to own a business here? If yes, then here is a guide about what you should expect and do when you plan to pursue a sports business in Indonesia.
How to Register a Company in Indonesia?
For starting a business in Indonesia, picking the right entity is a vital step. There are numerous entities to choose from in this country, like the Local Limited Liability Company or PT, Representative Office, and the most common choice for foreign investors, which is the Foreign Limited Liability Company or PT PMA.
What Are the Requirements for Registering for A PT PMA?
- Structure: Whether you are starting your own sports business or getting one from a buy sell business in Indonesia, for it to be able to operate in the country, it must have at least one director and one commissioner. It would also be helpful to take note that any one of these two must be a citizen of Indonesia. Aside from those, the business must also have at least two shareholders who can either be foreign or local individuals, or corporates, or a combination of both.
- Capital: When you register for a PT PMA, you should have at least Rp10 Billion or US$750,000 as capital investment. Besides that, you should have a paid-up capital amounting to 25% of the total capital.
- Location: It is essential to take note that you will need a domicile letter when registering for a company because a residential address is strictly prohibited except in Jakarta.
How Do You Get Your PT PMA Established Via OSS?
If you want to sell your business, you should be able to explain to your potential buyer that the establishment process of a PT PMA is done online through the OSS so that he or she can get the NIB and other relevant licenses before his or her business can be permitted to operate.
Here is the step-by-step guide of the process:
- Approval of Company Name: Your company name must be composed of three words that are not obscene or vulgar.
- Deed of Incorporation: You should present the Article of Association, and a notary lawyer must be present while doing so.
- Approval of Legal Entity: After your notary lawyer has submitted the Deed of Incorporation, the Ministry of Law and Human Rights will bestow his or her approval afterward.
- Domicile Letter: This requires that you show the location of your business.
- Application of NIB: NIB is your very own company profile number that guarantees your immediate operation, given that you have already accomplished all the other licenses that you need to get your business started.
Get A Business in Indonesia
Since we are already discussing getting a sports business in Indonesia, are you ready to find one from a buy sell business Indonesia? If yes, it will be really helpful to check out Easy Buy Sell Business in Indonesia, a business-for-sales portal. Here you can find your very first business venture in Indonesia, or you can sell business as well! Happy finding, and may you be able to find your dream sports business!