There is no better time than in 2021 to launch your Business Registration in Indonesia. The emerging powerhouse of Southeast Asia has withstood the impact of the COVID-19 pandemic on its economy, and now fiscal experts believe things are only going to progress with each passing financial quarter.
As well, a couple of months back, the Indonesian government implemented various measures and adopted policy reforms to boost foreign investments, eventually stabilizing and strengthening its economy.
If you are an international investor or an entrepreneur, you’ll be much relieved to know that Indonesia’s business registry is convenient & hassle-free.
Know the Latest Changes of Business Registration
Registering Your Company
Previously, the approval time for a business registration request was roughly two months and even beyond, but the recent policy change assures that everything is done in less than 45 days.
If you prefer to set up your business in Jakarta, then you need not produce the Company Domicile (SKDP). This rule has been in execution since May 2019.
You can even start your business faster than the mentioned 45 days; there is an option. Obtain a shelf company or in simple words, a ready-made company, and embark on your business operations in one week.
Work Immediately With an Investor KITAS
Suppose you are a foreign investor who yearns to take up a director, commissioner or become the shareholder of a company. In that case, the good news is that with an investor KITAS, you can begin working right away.
An Investor KITAS enjoys the perk of hassle-free application, and work permit government fee.
There are two options for investor KITAS; you can either apply for one or two-year investor KITAS. During this period, you can quickly get in and leave Indonesia multiple times, with no restrictions.’
To experience the benefits of an investor KITAS, you’re obliged to spend around IDR 1 billion minimum as invested shares. Besides, the company must have a minimum capital of IDR 10 billion.
Start Operations Right Away of Business Registration
If the above policy reforms are not sufficient to register your company in Indonesia, stick around, there is another one. Nowadays, you can launch your business for your consumers as soon as you get the Business Identification Number (NIB). You can apply for the NIB online through the Online Single Submission (OSS) system. Hence, no extra permits are needed.
There are about 45 business verticals added in this category: education, call centre, and travel agency. For more information, you must reach out to a reliable local business adviser.
Changes That May Take Place soon
Implementation of Omnibus Law
Even though the government is making endeavours to bring more foreign investment, there are still some complicated bills such as Omnibus Law.
To enforce it, the authority has to make hundreds of amendments in taxation and labour laws, which is highly unlikely.
No More Negative Investment List
It is believed that they will rename this bill as the Positive Investment List, or the Priority List.
With this law, different business sectors such as electronics and automotive will welcome foreign investments.
Conclusion of Business Registration
It is essential to know that the regulations & policies governing doing business in Indonesia are frequently altering to drive direct foreign investments.
To get the most updated information regarding the policy changes, rope in a specialised business consultant to provide you with reliable market-entry and corporate secretarial services.