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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.
Indonesia with its growing economy and a huge market is literary an archipelago of opportunities. Launching a new product, investing in one of the promising industries or doing business in import/export could be highly profitable under the condition that all the prerequisites are met.
Yet, not all entrepreneurs succeed with their business ideas and they find themselves facing the necessity for dissolving a company in Indonesia.
The shareholders have indeed the right to close the company if they agree on and rightfully vote in favour of it. The dissolution proposal can be submitted not only by the Board of Directors or Board of Commissioners but even by shareholders who represent at least 1/10 of the total shares with voting right. In order to approve suggested dissolution the consensus of at least 3/4 of the total shares with voting right is needed.
A company can be forced to end its activity by a court order. There is a row of reasons that could lead the court to such a radical verdict. Violation the public interest, taking an action that contravenes current legislation, being inactive for more than three years or ending up in the bankruptcy are just a few of them. In this case, a liquidator responsible for the whole process would be appointed directly by the court.
The period of incorporation is usually not limited. However, in rare cases, it might have a certain validity, and a company must apply to renew it to continue in business activities. Failing to do this, leads to its dissolution once this period is over. The GMS is obliged to appoint a liquidator with 30 days period, and the management is not supposed to take any further legal actions.
In case the granted business license is revoked the company loses the legal base for its existence and must conduct liquidation. It happens mostly in specific and heavily regulated fields
Dissolution of a company in Indonesia is regulated by the article of 143 of Law No. 40 Year 2007. It is important to bear in mind that it does not pass out of existence by terminating its activities. It continues to be regarded a legal entity until the process of dissolution, which consists of a series of legal steps, is finished.
The main task in the process of closing down a business is to settle nd clear the assets and liabilities – liquidation. In order to avoid any additional problems that may arise from incorrect dissolution, it is recommended to carry out the whole process carefully and with the help of experts.
To scrutinize the whole process of dissolving a business in Indonesia, we will have a look at the procedure for the most common company types – PT (Limited Liability) and its counterpart PT PMA intended for foreign investors. Termination of both forms come under the same guideline.
As previously mentioned there must be initiative either from inside the company (management, shareholders) or an authority intervention (court order).
The person who is going to handle the liquidation can be appointed directly by GMS or is chosen by the court depending on whether the liquidation is voluntary or compulsory.
The liquidator is supposed to inform about the dissolution of the company through the daily newspaper and also State Gazette of the Republic of Indonesia. The aim is to notify all creditors who can claim any potential debts as well as the Ministry of Law and Human Rights.
The announcement must be published within the 30-day period after the decision of dissolution was taken. The creditors may claim the outstanding amount during the 60 days following the issuance of notification in the newspaper.
The liquidator collects all the remaining assets the company still might have for unpaid goods or services and satisfies the creditors at the same time. Any potential surplus is divided among shareholders according to the proportion of their shares.
This step is accompanied by the a second announcement in newspaper that reveals the assets distribution plan that was approved beforehand by both the GMS and the Ministry of Law and Human rights.
The outcome of the liquidation is reported either to GMS or court. In addition, the tax office should be informed, so the company’s Tax Registration Number (NPWP) can be revoked.
The third and the final notice that the company does not exist anymore should be published in a newspaper.
It is vital to submit a confirmation about liquidation to the Company Registry of the Ministry of Trade at the same time to terminate the company registration certificate. PT PMA should also apply to Investment Coordinating Board (BKPM) to revoke its business or principal license.
Only by fulfilling the above-mentioned steps the company is considered as dissolved. The whole process may take approximately 8 – 10 months but in some cases even up to one year.
Representative Office (RO) is another widely used form of legal entity open to foreign citizens in Indonesia. Its activities are, however, limited to managerial support of the parent company located abroad or it serves as a first stage on the way towards establishing PT PMA in the future.
It must not carry any business activities in Indonesia on its own which means that, unlike the limited company, it does not go through the process of liquidation upon its dissolution and it is therefore simpler. Having said that, it is still necessary to follow required procedure once the management decides to close the RO down.
The steps that lead to the closure of Representative Office are as follows:
Investment Coordinating Board is asked to revoke the principal license of the RO.
Before the RO can be winded up, the government must be informed about leaving the official address of the office by termination of Domicile Letter.
A tax office will delete Tax Identification Number (NPWP) upon the request. This is a crucial step because RO will not be exempted from the tax reporting obligation unless the financial authority is officially notified that it has ceased to exist.
Company Registration should be terminated with the Ministry of Trade.
The time frame for dissolution of RO is between five months and one year.
As we outlined above, to dissolve a company in Indonesia is rather a complex task. In fact, it requires more effort than its registration. We cannot stress more the importance of liquidation that must be done properly to avoid further financial claims and legal disputes.
To make sure that the company will be closed down successfully and you will free yourself from all legal obligations, it is essential to put an experienced professional in charge of the whole process. Cekindo can take a role of the liquidator and provide you with all the necessary assistance.
We will help with the completion of the crucial documents, notification of authorities involved and announcements in newspaper and State Gazette. As a liquidator, Cekindo will take care of recording company’s properties according to the financial statement. We will also prepare the record of accumulation of wealth and debts to settle up with creditors or issue the article of dissolution that states the result and accountability of liquidation process.
Contact us for further details and tailor-made plan that will suit your company best.
An expert for more than 10 years, Pandu Biasramadhan, has an extensive background in providing top-quality and comprehensive business solutions for enterprises in Indonesia and managing regional partnership channels across Southeast Asia.