Yes you have a good memory, it will take time-to get done what I need to here and to research visas and costs in Bali. I'm going to start a thread in a few weeks(so its only a few weeks before I arrive) for some sort of networking(I hate that word!) balipod get together ? Has that been done before? Seems so many people on here want to either build something or start a business, why not talk about it over a couple beers(or cheese depending on peoples weekness)...
PT setup + sponsoring KITAS / Work Permit
- Thread starter zivva
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Dunaden I have see PMA companies for sale (25-30mill) could be something to look at. Thats about how much it cost to close a PMA company, do a search it may be a bit easier the starting your own.
Most of them had this little notes along with them : Maximum 51% if partner with UMKMK
Maybe its something to look at but still a long way to go
That might be a good solution, just make sure its the right business classification, you have to find the one with the right line of business
The PMA can be setup 100% yours then depends On what type of business you want to start, you may have to sell shares in your company. I have to find the rules, you need to look at a restaurant with bar I think, someone will tell you which one.
Cool, I am more interested in a backpackers style accommodation. I'm a chef so no restaurant for me thanks! :->
now THIS I don't understand.... were I intending to start a business in a country I don't know, I'd do it with a business I DO know - then there's only 1 learning curve to negotiate:
With both country orientation and a business I don't know inside-out .... sounds like a recipe for disaster.
But maybe you do know how backpackers style accommodation works.... have you worked out what they're called in Bahasa Indonesia, done your market study to find out how many there are in your selected area.
Maybe he's fed up with the smell of a kitchen, day to day job could do that to someone:icon_e_smile:
Who know he can relax and have some worker do the work for him?
Haha guys , my parents have run hotels forever and I've stayed at my share of backers- seen good bad and ugly ones! And as much as I'd like to lie by the pool and have the locals do all the work , as a current business owner today being my day off-I've just done 7 hours work...so no illusions there. And yes I will research it, the cheque books a long way from coming out!
there's no money in restaurants unless your McDonald or Ramsay or half a dozen others!this one :
president deed no.36 year of 2010
jdih.bpk[dot]go[dot]id/wp-content/uploads/2012/03/Perpres-No.36-Tahun-2010.pdf
Is it true that under the latest regulation expats may set up a PMA PT without local partners? And that the PMA PT can buy a property with better ownership terms? Can anyone advise me what is the minimum paid-up capital for a PMA PT dealing in services?
You have to check and re-check whether your line of business is included in the negative investment list, some could have 100% expat ownership and some are obligated to share. Maybe you could get a better info from a good agent to reconfirm your future business arrangement.
FYI: The investment list are getting updated now and the revised list is expected to be release between October to November, some changes might happen so I would suggest you to wait for the new list before you set sign something
Thank you Ferdie. I'll follow your advice and wait for the release of the new list. I may buy a property in Bali using the name of my wife's cousin. My wife is Indonesian but she now holds a Dutch passport, having lived in the Netherlands since 1990. I've been told a notary can draw up a lease agreement between us, worded in such a way that it practically gives me the right to do anything I want with the property. Is this information correct? I'm asking you this question because you seem to be quite knowledgeable about doing business in Bali and everything related to it. And you are quick in replying members' questions about these matters in the Forum.
Drawing up a lease agreement might give more peace of mind, but a lease agreement also will cause more cost in tax and lawyers and notary, etc.
Only you and the lady of the house can decide which step you would take
I think my knowledge is not that much, there's a lot more user with more knowledge and experience, just read all of the old thread about buying property.
Only you and the lady of the house can decide which step you would take
I think my knowledge is not that much, there's a lot more user with more knowledge and experience, just read all of the old thread about buying property.
Investment plan and paid up capital are two completely different things. Investment plan, as its name refers, is a plan of how much and in which ways company will use the investment capital.
Minimum capital requirement to start a PT PMA is for ALL industries 10 billion Indonesian Rupiah. You do not need to transfer 10 billion to some bank account in order to receive approval. Once again, 10 billion is investment plan and as long as you have the plan, you are good to proceed to the next step of the incorporation process.
Ministry of Human Rights & Justice requires at least 25% of the investment plan to be a paid up capital, but not less than 300,000 USD.
While 10 billion IDR investment plan and 25% (but min. 300,000) of paid up capital are required by the law, in reality you will not be asked for a payment slip or a statement from your bank.
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PerPres nomor 36 tahun 2010 tentang daftar negatif investasi (the regulation listing the fields of business which are limited or prohibited to foreign investment) is not the only statute one should consider, Rechter. In matters of PMA and foreign investment, a good look at the Regional Regulations may avoid a sour surprise. The amount of shares a foreign entity may hold in a restaurant may vary in Bali, in Balikpapan or in Manado for example. The maximum of foreign ownership allowed in a business related to tourism may be of 51% maximum for example but it can be further reduced by regional regulation (called Peraturan Daerah in bahasa Indonesia) or even prohibited.
Also note that the regulation concerning the negative investment list should be reviewed every three years. Since the last one dates from May 2010 we should have had a new list enacted in 2013 but (surprise! surprise!) delays have occured. It should be enacted anytime soon. Stay tuned. In 2010, around 40 business sectors were newly opened or relaxed to foreign investment compared to the 2007 presidential regulations.
If I believe the draft I have read of the new regulation, a few more sectors (close to 10) should be opened or relaxed to foreign investment, including eco tourism, management of ports and airports and in the pharmaceutical industry.