20% OFF your first business expansion. Learn more.
InCorp offers a comprehensive range of solutions to ease the company registration process and help you create a viable roadmap for your business.
Get assistance from experts with a decade of experience in assisting international business owners expanding into Indonesia.
Avoid any bureaucratic complexity when closing your company by engaging with our experienced legal advisors.
What type of legal entities should you choose to register a company in Indonesia? We can assist you in choosing which is the best one to grow your business.
To help businesses survive during this unfortunate time, InCorp provides corporate recovery in Indonesia and insolvency services.
Granting an environmental permit in Indonesia needs an Environmental Impact Analysis (AMDAL) in advance.
Obtaining property & land ownership in Indonesia offers some challenges for foreigners. However, buying property in Indonesia is attainable with specific resources and documents.
Recent regulatory changes have a knock-on effect on Indonesia's Merger & Acquisition landscape. Check on how we can navigate you through your M&A in Indonesia.
InCorp provides Virtual Office services Indonesia in various locations: Jakarta, Bali, Semarang, Surabaya, and Batam.
Business process outsourcing in Indonesia is a viable option to streamline bureaucratic complexities that hurdle your business expansion objectives.
InCorp offers a complete range of accounting service Indonesia, from tax reporting to auditing.
With professional financial audit services from InCorp, you can ensure all accounting activities are accurately recorded and compliant with Indonesian regulations.
Using an Employer of Record service to set your roots in Indonesia opens the doors to new opportunities in the country.
Financial and Operational Resilience services from InCorp are developed to support businesses and help them survive during this difficult time.
Payroll services in Indonesia are a practical solution to avoid unnecessary complexities while you focus on growing your business.
Using a recruitment agency in Indonesia will help you hire the best candidates for your company, saving you time and money.
Tax consulting in Indonesia are the shortcuts to fulfill the administrative obligations with high accuracy and in a timely manner.
The Indonesian government promotes tax holidays as one of the fiscal incentives to attract major foreign direct investment in Indonesia.
Operating businesses in Indonesia, entrepreneurs must comply with the regulations accordingly, especially concerning taxes.
Immigration in Indonesia is one of the strictest and most complex processes due to its ever-changing regulations. InCorp provides a seamless experience in obtaining your stay and work permits.
Avoid any hassles by engaging with an experienced visa agent in Indonesia.
A dependent visa Indonesia is a document that allows foreigners to bring their family while settling down in the country.
Investor KITAS Indonesia is a stay permit that offers many benefits to investors that invest in the country.
Overseas Visas are required for Indonesians who are planning to stay abroad for an extended period of time.
KITAP is a permanent stay visa for foreigners who have intentions to stay in Indonesia.
Foreign retirees often find their plans stuck due to the complex visa application process. InCorp helps expedite the process.
Obtaining a social visa is daunting if you are not familiar with the country’s complex bureaucratic processes. Consult with us for a seamless Indonesian visa application experience.
Foreigners married to an Indonesian citizen are eligible for a spouse-sponsored KITAS.
Learn how to obtain an Indonesian tourist visa seamlessly and securely, directly from a trusted visa and travel agent.
Get assistance from a trusted visa agent in Indonesia to make your traveling plan to Indonesia even more convenient.
Expedite your Indonesian work permit application process by engaging with a trusted visa agent.
All imported goods must obtain permission granted by specific governing bodies prior to entering the local market.
Learn more about the cosmetic product registration services in Indonesia.
Learn more about exporting goods to Indonesia.
Learn more about the food & beverage product registration services in Indonesia
Learn how to go through halal certification in Indonesia directly from experts successfully.
Learn more about the health supplement product registration services in Indonesia.
Learn more about the household product registration services in Indonesia.
Learn more about importing goods from Indonesia
An Importer of Record in Indonesia is a legal service that enables companies to import products into Indonesia, through an import partner.
Learn more about the medical device registration services in Indonesia.
Register a trademark is necessary to avoid legal issues in the future. InCorp can help you with Trademark Registration services in Indonesia.
Compliance is one of the most challenging parts of business overseas, especially in a country packed with complex bureaucratic processes such as Indonesia.
Updating business documents to align with your company’s growth can be a hassle.
Due Diligence services are needed to assess the credibility of the company or partner you wish to work with or acquire in Indonesia
From Company Regulations to Employment Agreement Drafting, Employment law services from InCorp will help you to compliance with employment policy in Indonesia.
InCorp’s legal consultation services in Indonesia are crafted to help your business settle and fully comply with the latest regulations.
Organizations must continuously evolve and transform to remain competitive and relevant in todays global environment ...
Companies face many opportunities and challenges as a result of a changing market and regulatory landscape ...
Adopting Environmental, Social, and Corporate Governance (ESG) practices can improve your company’s value ...
Risk Management services from InCorp Indonesia can assist companies in building confidence when making future business decisions ...
Transfer Pricing in Indonesia occurs when a company performs an internal transaction within the same business group or its subsidiaries
InCorp's transfer pricing advisory services in Indonesia are marked by the objective to support our clients' business needs.
Our transfer pricing services provide you with a hassle-free experience while still complying with the legal aspects of transfer pricing in Indonesia.
As the market-entry consulting firm in Indonesia, InCorp provides a wide range of customized solutions to ease the business incorporation process.
Both natural and legal persons are entitled to open a bank account in Indonesia. Find out how to open a bank account in Indonesia, here.
InCorp can help you find a trusted Buying Agent Indonesia for product sourcing in Indonesia. Contact us now for a free consultation.
InCorp can help foreigners to get the driving license in Indonesia, whether SIM A or SIM C. Check out the requirements and the procedure, here.
IMEI Registration in Indonesia is necessary to ensure telecommunication devices from abroad can function properly in Indonesia.
With offices in Jakarta, Bali, Semarang, SUrabaya, and Batam, InCorp is ready to assist you as a local partner and distributor in Indonesia.
InCorp can help you to select the trusted local partners to import and distribute your products in Indonesia.
Improve your business by knowing the market conditions in Indonesia through market research services in Indonesia.
InCorp can help you gain information about your competitor's product through mystery shopping.
A Central Bank Digital Currency (CBDC) is typically defined as a digital liability of a central bank that is made publicly accessible to the general public. A CBDC is created, distributed, and utilized in place of regular currency and will act as a digital currency, representing a country’s exchange.
The implementation of a CDBC must fulfill the three primary functions of money: acting as a store of value, medium of exchange, and unit of account. The implementation of a CDBC has a faster, more effective, and more efficient payment system. The central bank can effectively monitor the digital currency supply by simplifying transaction tracking and cutting banking costs.
Because of the advantages, digital money offers, many countries are interested in developing their own CDBC, which has doubled during the pandemic. Currently, nine countries have fully implemented CDBCs, namely Nigeria, the Bahamas, and seven countries in the Caribbean Islands.
One example of CBDC implementation is the e-CNY (Digital Yuan), issued by the PBOC (Central Bank of China) and operated by authorized operators, adopting a centralized management model and a two-tier operational system. E-CNY is the primary substitute for cash in circulation (M0) and will coexist with physical RMB and prioritize serving domestic retail payment requests.
First and foremost, keep in mind that a CBDC is not a cryptocurrency. As we all know, unlike CBDC, cryptocurrency may be owned and controlled by its users. Unlike a decentralized cryptocurrency, CBDC is entirely governed by a single organization or bank.
CBDC functions as a virtual equivalent of fiat money like the Indonesian Rupiah or the US dollar. Banks will use a centralized system to issue and store CBDC assets. Your personal information and the transaction will be linked to your CBDC assets. However, only the sender, receiver, and the bank will access transactional details.
To further explain, CDBC uses a private blockchain in which the identity of a CDBC user is tied to your bank account. It functions as a means of payment, and the Central Bank can regulate the supply and network amount.
In contrast, cryptocurrencies, using a public blockchain, can use anonymous identities, speculative purposes, and payment systems depending on the regulations in each country. The authority that regulates it is the crypto network market.
Bank Indonesia is currently exploring the potential of creating a digital Rupiah as an alternative to the physical Rupiah. The appropriate type of digital money (CBDC) for Indonesia is cash-like, a token-based general-purpose CBDC with non-interest-bearing attributes.
This means that the proper kind of money is Rupiah digital money that can replace conventional Rupiah (anonymous, publicly accessible). Everyone can use it for flexible and efficient settlement of daily transactions.
Compared to traditional money, the advantage of a digital Rupiah is the reduction of printing and storage costs and the ability to mitigate the emergence of shadow banking. In its very essence, shadow banking is financial activities carried out by non-bank institutions outside the scope of regulation of the banking system, which is common in developing countries.
The development of financial inclusion in Indonesia is also going well. In 2017, around 48.9% of the total population of Indonesia (aged 15 years and over) already had a bank account based on data from the World Bank Global Financial Inclusion 2017.
The Governor of Bank Indonesia revealed that the Bank Indonesia has plans to issue digital currency distributed to prominent business actors. The distribution process itself will utilize Distributed Ledger Technology (DLT) blockchain.
Bank Indonesia plans to release a White Paper by the end of 2022, which comprehensively discusses the digital Rupiah’s development after studying other countries’ practices. Bank Indonesia also plans to integrate this structure into the general money market. The aim is for digital currency to be something people can utilize within and beyond Indonesian borders.
The governor explained six objectives for issuing digital Rupiah:
However, there remain significant challenges behind the implementation and issuance. The first is regarding the general design and mechanism of the currency. The second concerns business and state actors’ infrastructure and technological readiness to embrace such advancements. Lastly is the choice of technology. After overcoming these identified challenges, Bank Indonesia will proceed with the issuance and distribution of digital currency.
The International Monetary Fund reveals that global countries should take advantage of this momentum. Companies looking to do so may explore the services provided by InCorp Indonesia (formerly Cekindo) regarding accounting services and company registration to streamline business processes and maximize profitability.
With more than 10 years of expertise in accounting and finance, Daris Salam dedicates his knowledge to consistently improving the performance of InCorp Indonesia and maintaining clients and partnerships.