Home Blog Can an individual or a business organization be a shareholder in a PMA company, and is there a minimum number required? Business Setup | Company Registration | Legal Agreement Service | PT PMA | Secretarial Services Can an individual or a business organization be a shareholder in a PMA company, and is there a minimum number required? InCorp Editorial Team 17 June 2025 1 minutes reading time Table of Contents A limited liability corporation is required by Indonesian company law to have two or more shareholders, who may be either a legal entity or an individual. The foreign investor must find a second shareholder to own shares in the PMA firm for investments that are 100% open, which could be an affiliated party. Read Full Bio Verified by Hotdo Nauli Senior Legal & Delivery Manager at InCorp Indonesia Hotdo heads the Legal and Delivery team at InCorp Indonesia, managing Product Registration, Legal Advisory, and Business Licensing. With over 8 years of experience, she focuses on compliance and integrity, ensuring all client operations align with Indonesian laws and regulatory standards, including contract reviews and sector-specific licenses. She is also a licensed advocate and a member of the Indonesian Advocates Association (PERADI). Frequently Asked Questions What requirements are needed if my Indonesian company registers the product? Register the product with BPOM (National Agency of Food and Drugs) and MoH (Ministry of Health). The type of testing and document requirements depend on the type of product you want to register. Also, the time frame for registration could vary between 3 to 15 months. What is a CV? CV (Commanditaire Vennootschap) is a proprietary business entity that houses several individuals to run a business. What is the Indonesian employment status in PMA company? In Indonesia, employment arrangements are categorized into temporary employment agreements (PKWT) and permanent employment agreements (PKWTT). Temporary contracts are for short-term, seasonal, or experimental work, while permanent contracts are for continuous employment. Can a foreigner form a CV? A foreigner is not allowed to form a CV in Indonesia Get in touch with us. 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