Indonesia is home to many foreign-owned companies which have been registered as PT PMA companies. Such companies are to have shareholders, directors, and company commissioners. Directors are responsible for the daily management of the company. They are to select people who will serve in the senior managerial positions, convey the company proceedings to the shareholders, and manage partnerships with other companies. The company commissioners perform tasks such as monitoring, inspecting, and supervising the company’s activities. An Indonesian company must have at least two shareholders and the cumulative value of all shares to be held must be at least 10 million rupiah.
Every PT PMA company based in Indonesia must have at least one commissioner. In most cases, the commissioner must be a local; however, such is not necessarily the case in all situations. If the company decides to have multiple commissioners, one of them is to be appointed as the president commissioner whose duty will be that of leading the board of commissioners of the company. Company commissioners in Indonesia also provide advice on company matters to the directors, approve the annual financial statement of the company, and review the budget of the company. A company commissioner can also suspend any of the directors of the company if the director is found to have violated the company’s rules and regulations. All actions taken by the commissioner must themselves comply with the official rules and regulations of the company.
Should you happen to have taken an interest in starting a PT PMA company of your own, we at Paul Hype Page & Co will provide you with the necessary services and assistance in order for you to do so. Our incorporation team will take you through the process of company incorporation in Indonesia and enable you to complete every step of the process by using proper methods. Thus, once everything has been completed, you will have an Indonesia-based company of your own.