What to look out for in forming a PMA?

SHoggard

I'm looking to set up a PMA and would like to ask for your 'horror stories' (!)What to watch out for in the M&A that could cause more trouble than its worth.I've established that the 'scope of business' is "open to 100% foreign business" so there'd be no potential partner-conflicts to deal with - which I'm sure knocks a whole bucket-full of problems out the window.Accounting/Tax reporting might be an issue - in the 1st couple of years the PMA won't be generating income - but I hear that returns have to be filed monthly (correct?).If so, how much would I expect to reasonably pay for filing monthly returns that basically say "no income generated" I'm looking at using Okusi - in 'due dilligence' mode I'll be fielding a whole slew of the more obvious 'business/accounting' questions at them - but it's always good to hear the less obvious ones from experienced hands at this game.They're quoting: USD3200 - SetupUSD685 p/a Domicile (Jkt, Bali, Batam) I presume this means 'registered office'

Roswen

Hi shog,well I get 6k USD when i started up my company. but I dont get any additional fee like you quoting above (USD658 p/a) and plus, the firm helped me to filling out the quarter report and annual report for PMA for free.I think 3200USD is cheap, but you need to make sure what scope of service their provided to you, since it is useless if you only have to pay 3200USD but with limited service.PM me if you want to know the firm that i used to established my company. Anyhow, please refer to other forums thread, i think many of them are complaining about okusi.

MarkS

Hi, I'm new to this forum and looking to do a similar thing like SHoggard so interested in any feedback. I've contacted some of the more commonly mentioned consultants and still awaiting their replies. Roswen, as I assume I'm unable to send pm's yet, could you drop me an email with the contact you used? Looks like i cant send my full email either so its a combination of mark1_stuart and hotmail and com

gilbert de jong

Roswen

i think i just dropped you an email. please check marks. anyhow, please go to this [URL="http://www.abrlawyer.com"]link[/URL].

Mickey

Hello SHoggard,Did you go ahead with Okusi or you chose a different company?what is your experience with setting up the PMA now?thanks

SHoggard

I haven't moved on it yet....1. Business took an upturn & we've been on a consultancy that's taken me to Malaysia, Thailand, Vietnam & Japan (aka: chasing my ass around Asia) 2. What we'd be looking at doing is establishing an Indonesian subsidiary of my Singapore registered company, there are apparently some ASEAN cross border agreements that (apparently) make it easier than were I just a bule parachuting in.... or so our lawyers here advise.So now I'm looking at the nitty gritty as to whether the entire process is nessicary in the 1st place or whether we just go for a lease & do the 25+25 + whateverBut thanks for asking... game still in play, I will post here if there's an outcome

Mickey

Thanks for the update.I have just posted a new topic concerning the pros and cons of establishing a company in singapore and open a subsidiary in Indonesia in a form of PMA where the Singaporean company is one of the shareholder.here is the link: [URL unfurl="true"]https://balipod.com/forum/threads/possible-structure-to-pay-less-tax-in-indonesia.9117/[/URL]Good luck.

IslandManagement

If this thread is still alive, I could recommend CCI here in Sanur. They aren't cheap- approx 65jt- but the communication is great and they are very organized. Just my $0.02.