Hello,
we are looking to start up a 100% foreign owned PMA for a new business. This business will be a small scale guesthouse with 10 rooms.
We would like to invest 100.000 US$ for this.
We read it's getting more complicated to achieve this with only this small investment, that you need 750.000 on your bank account and that BKPM is checking this, if it's not at the start, then after some years before handing out a permanent PMA.
an article on indosight says:
In recent years, BKPM has become very serious about revoking the principal licenses of the companies that don’t realise the investment plan. Therefore make sure you only apply for the principal license (essentially that you even register a foreign owned company) if you are confident that you are able to invest the required capital.
If Rp. 10 billion is more than you are able or ready to invest, a representative office or nominee company are a better choice.
We consulted a lawyer for this matter, she says it's possible to do this with less capital. Just deposit 50.000 and retrieve it from the bank, do this 5 times untill you virtualy have 250.000 which is enough to start with the principal licence. We feel this is a bit dodgy. Is it still possible to obtain the PMA with this trick or do you think it really is that hard to get the PMA ?
we are looking to start up a 100% foreign owned PMA for a new business. This business will be a small scale guesthouse with 10 rooms.
We would like to invest 100.000 US$ for this.
We read it's getting more complicated to achieve this with only this small investment, that you need 750.000 on your bank account and that BKPM is checking this, if it's not at the start, then after some years before handing out a permanent PMA.
an article on indosight says:
In recent years, BKPM has become very serious about revoking the principal licenses of the companies that don’t realise the investment plan. Therefore make sure you only apply for the principal license (essentially that you even register a foreign owned company) if you are confident that you are able to invest the required capital.
If Rp. 10 billion is more than you are able or ready to invest, a representative office or nominee company are a better choice.
We consulted a lawyer for this matter, she says it's possible to do this with less capital. Just deposit 50.000 and retrieve it from the bank, do this 5 times untill you virtualy have 250.000 which is enough to start with the principal licence. We feel this is a bit dodgy. Is it still possible to obtain the PMA with this trick or do you think it really is that hard to get the PMA ?