Located just outside of Jakarta, Yogyakarta is not only one of the most densely populated provinces today, but it has also become one of the best business destinations for most foreign investors. Many foreign entrepreneurs have seen the exceptional economic growth in Yogyakarta, particularly in the education sector, high-tech startups, tourism and hospitality, traditional culinary, digital ecosystem, as well as transportation sectors.
Yogyakarta is blessed with rich cultural and historical heritage – you can still see many thousand-year-old temples left behind from the ancient kingdoms. The beautiful landscape, young workforce, friendly business environment and improving infrastructure are also the reasons leading to a flourishing Yogyakarta.
In this article, you will see why Yogyakarta has a lot business opportunities waiting for foreigners to explore and use the right visa to enter the city.
Business Opportunities in Yogyakarta
The presence of many business opportunities in Yogyakarta is now supported by its rapidly developing infrastructure, improving transportation, relatively low costs and governmental policy.
As mentioned at the beginning of this article, the most attractive sectors thus far to boost revenue include the following:
- High technology
- Digital ecosystem
- Art and craft
- Tourist attractions
- Seafood products processing
- Fertiliser industry
In addition to that, dynamic districts that are best for investments in Yogyakarta city are Bantul, Kotamadya, Gunung Kidul, Kulon Progo and Sleman.
Options for Company Establishment in Yogyakarta
Before your business can operate legally in Yogyakarta, you will need to choose the right legal entity and proceed with its incorporation. Here are some of the options commonly available for foreign investors in Yogyakarta – we highly suggest you seek professional advice from Cekindo if you are not sure which one is the best fit for your business.
1. Local Company or PT
- Owned by Indonesians only
- Minimum investment capital is low
- Sectors are not restricted under Negative Investment List (NIL)
2. Foreign-owned Company or PT PMA
- Foreigners can have up to 100% ownership
- Percentage of foreign ownership, however, depends greatly on NIL (please send in your enquiry for more information)
- Allowed to sponsor business visa and work permit applications
3. Representative Office
- Good for market survey and making a presence before setting up a PT PMA or PT
- No revenue-generating activities are permitted
Explore Yogyakarta with a Business Visa
The increasing popularity of Yogyakarta means that this unique city carries tons of business opportunities for foreign investors to seize. To explore possible business opportunities for you in Yogyakarta, the best visa would be a business visa.
An Indonesian business visa is an excellent choice for foreigners who would like to conduct short-term business visits on a regular basis. This visa allows you to participate in workshops and conferences, make connections and expand network, negotiate, do market survey and sign contracts. However, it does not allow you to hire employees or make a profit in Indonesia.
How to Get a Business Visa in Indonesia
Applying for an Indonesian business visa can be a rather breezy process if you have the assistance from our specialist. Below is the general procedure:
- Get a sponsorship letter from an Indonesian company
- Obtain a special permit called TELEX issued by the Indonesian Immigration
- Submit all required documents, along with the sponsorship letter and TELEX
Cekindo can Help with Business Visa Application and Company Setup in Yogyakarta
Cekindo is a customer-oriented business consultation provider with the required skills, expertise, and knowledge. We offer a wide range of professional business services and personalised consultation including company setup, business visa application and licensing assistance, among others.
Setting up and running a company in Indonesia can be quite a challenge for foreigners. However, Cekindo can make it easy for you. We take care of every aspect to ascertain a successful business setup and operation.
Arrange an appointment with us now and we will be happy to assist you. Start by filling in the form below.