One of the company types which may be established in Indonesia is the PT PMA which is a foreign company requiring shareholders, directors, and company commissioner. Unlike other Indonesian companies, a foreigner is permitted to serve as the company commissioner of a PT PMA if certain requirements have been fulfilled.
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.
Foreigners Serving as Indonesian Company Commissioners
In an Indonesian company, anyone serving in a higher position must ordinarily be an Indonesian citizen or permanent resident. However, a foreigner may be allowed to become a shareholder, director, or the company commissioner by abiding by the rules set by the government of Indonesia and other regulatory authorities. The government has also specified the means by which a foreigner may become the commissioner of an Indonesian company. It has mentioned that foreigners are to receive the Limited Stay Visa or VTT before becoming eligible to take up the role. The latest regulations also state that foreigners must also possess a certain amount of shares before becoming a commissioner or director. Foreign shareholders who are to serve serving as a director or company commissioner must hold at least one billion rupiah’s worth of shares or its equivalent in US dollars.
It could be that you might require a visa which is valid in Indonesia for a specific purpose. In order to have such a problem solved, contact us at Paul Hype Page & Co. We will do everything in our power in order for you to receive an Indonesian visa in due time and thus be able to enter and remain in the country through legal means.
All foreign company commissioners of Indonesian companies are required to apply for a residence permit. It is essential for foreigners who plan to live and work in. The residence permit along with the new VTT permit will allow company commissioners to work legally with and be paid by an Indonesian company, open a local bank account in Indonesia, and remain in the country beyond a specific period without having to contact government departments to extend the duration of the visa. Foreigners with exclusive job positions such as that of the company commissioner may become permanent residents of Indonesia if they have lived in the country for a period lasting for at least three years. However, it is not necessary for all such foreigners to become permanent residents of Indonesia.
Paul Hype Page & Co – OSS service provider and Asean Chartered Accountant.
Paul Hype Page & Co. have 3 physical offices in Singapore, Malaysia and Indonesia
Our Firm Goal is to assist Foreigner and Foreign Companies to set up business in Asean.
How we can help you:
We will call you back, please click below link and make appointment with our Sales consultant:
Step 1- Listen to your Business plan and Relocation needs.
Step 2- Analysis your Tax Planning
Step 3- Recommend the most suited type of Company Incorporation, Open Bank account and Work Visa
Step 4- Arrange for your Spouse and Children Visa
Step 5- Assist as your company to hire staffs and handle all HR matters
Step 6- Every financial year end, we assist you with your yearly OSS Finanical and Tax Complianc
Step 7- Assist you to expand business to Malaysia, Indonesia, Vietnam and Thailand.
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