Are you thinking about expanding your business to Bali, Indonesia? If so, then you need to know about PT PMA Bali. This type of company will allow you to have full ownership of your business, and it is the most popular choice for foreign investors in Bali. In this article, we will provide a comprehensive guide to setting up a PT PMA Bali, so that you can start your business with ease.
What is PT PMA Bali?
PT PMA stands for Perseroan Terbatas Penanaman Modal Asing, which translates to a limited liability company with foreign investment. In Bali, a PT PMA is a popular choice for foreigners who want to set up a company because it allows them to have 100% ownership of their business. This is because the Indonesian government has restrictions on foreign ownership of companies, and a PT PMA is the only type of company that allows foreigners to have full control.
Requirements for Setting up a PT PMA Bali
To set up a PT PMA Bali, there are several requirements that you need to meet. These include:
1. Minimum investment of IDR 10 billion (approximately USD 700,000) or IDR 2.5 billion (approximately USD 175,000) for certain business sectors;
2. At least two shareholders;
3. At least one director and one commissioner;
4. A registered office address in Bali;
5. Obtaining a Tax ID Number (NPWP);
6. Obtaining a Business Identification Number (NIB);
7. Obtaining a Company Registration Certificate (TDP);
8. Obtaining a Permanent Business License (IUT);
9. Obtaining a Commercial Business License (SIUP);
10. Opening a local bank account.
The Process of Setting up a PT PMA Bali
The process of setting up a PT PMA Bali can be quite complex, and it is important to have a good understanding of the steps involved. Here is an overview of what you need to do:
Step 1: Reserve a Company Name
The first step is to reserve a company name through the Ministry of Law and Human Rights. This process can take up to three days.
Step 2: Obtain a Deed of Establishment
Next, you need to obtain a Deed of Establishment from a Notary Public. This document outlines the details of your company, including the name and address of the shareholders, directors, and commissioners, as well as the company’s objectives, capital, and structure.
Step 3: Obtain Approval from the Indonesian Investment Coordinating Board (BKPM)
After you have obtained a Deed of Establishment, you need to obtain approval from the BKPM. This process can take up to 14 working days.
Step 4: Obtain a Tax ID Number (NPWP)
You will also need to obtain a Tax ID Number (NPWP) from the tax office. This process can take up to 10 working days.
Step 5: Obtain a Business Identification Number (NIB)
Next, you need to obtain a Business Identification Number (NIB) from the Online Single Submission (OSS) system. This process can take up to five working days.
Step 6: Obtain a Company Registration Certificate (TDP)
You will also need to obtain a Company Registration Certificate (TDP) from the local government. This process can take up to three working days.
Step 7: Obtain a Permanent Business License (IUT)
After you have obtained a TDP, you need to obtain a Permanent Business License (IUT) from the local government. This process can take up to 14 working days.
Step 8: Obtain a Commercial Business License (SIUP)
Finally, you need to obtain a Commercial Business License (SIUP) from the local government. This process can take up to 14 working days.
The Benefits of Setting up a PT PMA Bali
There are many benefits to setting up a PT PMA Bali, including:
1. Full ownership of your business;
2. The ability to issue work visas for foreign employees;
3. Access to a large and growing market in Bali;
4. The ability to participate in government tenders;
5. The ability to repatriate profits and capital.
The Risks of Setting up a PT PMA Bali
There are also some risks involved in setting up a PT PMA Bali, including:
1. The high minimum investment requirement;
2. The complex process of setting up the company;
3. The need to comply with Indonesian laws and regulations;
4. The risk of changes in government policies and regulations;
5. The risk of cultural differences and language barriers.
Conclusion
Setting up a PT PMA Bali can be a complex process, but it is also a great way to expand your business into Bali. By following the steps outlined in this article, you can set up your PT PMA Bali with ease and start enjoying the benefits of full ownership of your business. Just be sure to do your research and seek professional advice to ensure that you comply with all Indonesian laws and regulations.
