Thursday, May 10, 2007

PROCEDURES IN DRAFTING DEED OF ASSOCIATION AND RELATED LICENSING FOR FOREIGN INVESTMENT COMPANY

1. Approval from BKPM for Foreign Investment Company

A Model 1 Foreign Investment Company Application shall be submitted to BKPM. With 95%
foreign investment in the overall share the approval shall be a principal approval for the
Company before a Deed of Association is drafted by the notary. For industrial company the
approval shall prevail also as a principal approval for fiscal facility which may be granted to
the entrance of raw materials and machineries necessary for the company operations.

The approval shall also be attached to the Investment Letter of Approval where goods
specifications and details, as submitted, are included in the Master List (Point 3).

Foreign Investment Approval from BKPM shall be valid for 1 (one) year and can be renewed
to a 1 (one) year duration. Time required to prepare the document shall be 2 (two) weeks.

2. Drafting of the Deed of Association by Notary

The drafting of a new Deed of Association shall commence after a Foreign Investment
Approval from BKPM is issued. In the Deed shall also be included the date and number
of the BKPM Approval.

3. Issuing of Company Domicile

Issued by Lurah and Camat where the Company domiciles.
Requires 3 (three) days to prepare.

4. Issuing of NPWP (Tax Obligation Main Number)

Requires 3 (three) days to prepare.

5. Issuing of PKP (Tax-Applicable Business) – where necessary

Related to the application of Value Added Tax to company opeartions.
Requires 2 (two) weeks to prepare.

6. Establishment by Court

Prepared by the notary who drafts the Deed of Association.

7. Issuing of TDP (Government Company List)

TDP can be prepared in two ways:
a. TDP issued before an Establishment by Court (shall be deemed non-legal entity).
b. TDP issued after an Establishment by Court.

Requires 2 (two) weeks to prepare.

8. Inclusion in State Gazette

Prepared by the notary who drafts the Deed of Article of Association.

9. Issuing of APIT (Limited Importer Identification Number)

This certificate is issued by BKPM as the first step to a plan to import goods by the Company,
whether they be machineries or raw materials.
Requires 2 (two) weeks to prepare.

10.Issuing of SRP (Custom’s Letter of Registration)

In order to deter fake importers, companies importing goods nowadays are required to hold
an SRP certificate issued by the Custom.


11. Issuing of Master List

Master List issued by BKPM includes a list of goods that will be imported by the Company,
their specifications, country of origin, unit quantity, and other informations related to the
imported goods.

Requires 2 (two) weeks to prepare.

12. Issuing of RPTKA (Foreign Labor Employment Plan)

Before employing foreign labors—should be in accordance to the attachment of Foreign
Investment Approval on the employment of foreign labors, companies are required to
submit a Foreign Labor Employment Plan, be they for positions of Directors,
Commissioners, or Experts.

13. Issuing of IUT (Permanent Business License)

Should the company has already commercially producing, the company shall be required to
hold IUT issued by the BKPM involving any other concerning instances such as the
Department of Labor Affairs in order to provide monitoring of labor aspects be they local or
foreign labors, Department of Industry and Commerce for Foreign Investment Companies
in the field of commerce, and Local BKPM—requires 1 (one) month to prepare.

14. Issuing of IMB (License to Erect Building) –should the company wish to erect
building Notes

1. The aforementioned times required to prepare the documents are counted from the time
where data requirements are fulfilled and ready to be submitted.
2.The above elucidation shall preavil only to business declared open to foreign invesments.

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dd said...

happy new year............................................................

手錶 said...

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天天影片 said...

Care killed the cat. take care yourself.........................................

脣形 said...

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仲亨仲亨 said...

I do like ur article~!!!..................................................

RobinGallego0717俊毅 said...

幸福不是一切,人還有責任。......................................................

JeremiahRenne332 said...

初到貴寶地,拜碼頭!!!請多指教! ........................................

志文 said...

Never hesitate to hold out your hand; never hesitate to accept the outstretched hand of another...................................................

CleoL_V said...

百發百中不是一試就成的。 ..................................................

志穎 said...

失去金錢的人,失去很多;失去朋友的人,失去更多;失去信心的人,失去所有。...............................................................

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A good medicine tastes bitter. .............................................

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易英易英 said...

Learn wisdom by the follies of others. ..................................................

致遠致遠 said...

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rlkris said...

喜歡你的部落格,留言請您繼續加油........................................

怡潔怡潔 said...

Two heads are better than one. ............................................................

建月 said...

Man proposes, God disposes...................................................................

上心上心 said...

這麼好的部落格,以後看不到怎麼辦啊!!......................................................................

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死亡是悲哀的,但活得不快樂更悲哀。....................................................................

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生存乃是不斷地在內心與靈魂交戰;寫作是坐著審判自己。.................................................................

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一個人的價值,應該看他貢獻了什麼,而不是他取得了什麼.................................................................

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人不能像動物一樣活著,而應該追求知識和美德............................................................

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精彩的部落格 要繼續加油 ..................................................................

張怡 said...

馬丁路德:「即使知道明天世界即將毀滅,我仍願在今天種下一棵小樹。」............................................................

佳皓佳皓 said...

Learning makes life sweet.............................................................

珮瑜 said...

期待新的內容 感謝你............................................................

許李秀樺靜怡 said...

什麼樣的學習計畫並不重要,重要的是你是什麼樣的人。............................................................

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時間就是塑造生命的材料。

李吳俊其彥柏 said...

「仁慈」二個字,就能讓冬天三個月都溫暖。..................................................

思張張亦 said...

Learn wisdom by the follies of others.............................................................

彥韋以儒 said...

一棵樹除非在春天開了花,否則難望在秋天結果。............................................................

陳劉嘉韋蓉宣 said...

出遊不拘名勝,有景就是好的..................................................................

佳陳容 said...

Learn wisdom by the follies of others.............................................................

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所有的資產,在不被諒解時,都成了負債.................................................................

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生命的意義,是在於活的充實;而不是在於活得長久。............................. ...................................

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