Cekindo Business International is now InCorp Indonesia. 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.
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 today’s 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.
Considering Indonesia’s huge population, the insurance industry in the country has been presenting significant opportunities. With the growing middle-income and wealthier population, the insurance buyers in Indonesia are also on the rise. These attractive target audiences in the insurance industry have given foreigners intentions to start an insurance company in Indonesia. Therefore, the growth rate of the insurance company in Indonesia remains high.
Previously, the foreign ownership of insurance companies in Indonesia was still restricted under the Negative Investment List with maximum foreign ownership of 80%.
In other words, foreigners needed to find one or more Indonesian partners to make up another 20% of local ownership in the form of a joint venture, to establish an insurance company in Indonesia.
Insurance companies included under this previous restriction are those offering conventional general insurance services, conventional life insurance services, Shariah-compliant life insurance services, conventional reinsurance services, Shariah-compliant reinsurance services, and Shariah-compliant general insurance services.
Now, good news for all foreign investors, the Indonesian government has increased foreign ownership for the insurance company in Indonesia to more than 80%. The lift of the restriction was done through the enactment of the Government Regulation No. 3/2020 on Foreign Ownership of Insurance Companies, effective since January 20, 2020.
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The new regulation now allows foreign capital participation of an insurance company in Indonesia to exceed 80%.
For foreigner owners of private insurance companies or insurance companies that are not publicly listed with foreign ownership exceeding 80% before the new regulation came into effect, they are exempted from the foreign ownership limitation. However, they are forbidden to increase their foreign ownership.
Furthermore, the regulation mentions that in the event when an insurance company does not get a local partner but wants to increase its capital, the company’s paid-up capital shall then be made through an initial public offering of shares in the country. The 20% requirement through the local capital market was also revoked to allow foreigners to increase capital per their capital shares.
In addition to the increased foreign ownership, it is now also a must for insurance companies in Indonesia to have in the Board of Directors at least one compliance director. This director should be responsible for managing matters related to compliance only. Further details can be discussed with Cekindo or seen under POJK 43/2019.
To start an insurance company in Indonesia, a foreign investor must first set up a foreign limited liability company (PT PMA). Then, the foreign investor is required to acquire a principle license from the Investment Coordinating Board (BKPM).
Once the principle is secured, the foreign investor shall continue to apply for a business license from the Financial Services Authority (OJK). OJK is the authority that oversees the insurance industry in Indonesia in regards to licensing, regulations, sanctions, and other policies and implementations in the financial sectors.
Incorporating your business in Indonesia gives you numerous benefits to grow your business. These benefits include lower corporate tax rates, limited liability for owners, and better access to grants and capitals.
Cekindo’s business incorporation services are reliable, fast with a high success rate, available to all industries and sectors including insurance in Indonesia.
Our experts will break down the incorporation process into a step-by-step guide to make it simple and convenient for you. So now, let us handle the tedious paperwork on your behalf so you can concentrate on what’s important – growing your business.
You can now start your business incorporation in Indonesia with Cekindo by contacting one of our representatives. Fill in the form below.
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.