Shelf company/turnkey solutions for Indonesia
Unfortunately, setting up a new company in Indonesia for foreign investors takes 4 months (click link). As a work around solutions, Healy Consultants provides our multi-national Clients’ two fast solutions. They include i) acquiring a ready-made dormant Indonesian company with an already approved corporate bank account or ii) setting up a new company with Healy Consultants as sole director and shareholder for 5 months.
With these two fast solutions, our Clients can expect to begin trading in Indonesia within 6 weeks, reducing engagement lead time by 70%. Within 2 months, Healy Consultants can provide our Client i) company registration number ii) a company tax number iii) a new corporate bank account number and iv) a local business address. Refer to the summary table below:
Advantages and disadvantages of a fast corporate structure solution
|No||Advantages||Turnkey solution||Nominee company|
|1.||Your Firm will be able i) invoice customers faster and collect receivables ii) minimize red tape and bureaucracy iii) hire local staff faster iv) sign legal contracts as soon as practical;||Yes||Yes|
|2.||The company will already have foreign investment approval. It may not be necessary to seek BKPM (click link) approval;||Yes||No|
|3.||Our Client does not have to travel to Indonesia for company registration and multi-currency corporate bank account opening;||Yes||Yes|
|4.||It is an expensive solution;||Yes||Yes|
|5.||it may be necessary to amend the business activity license of the company and resubmit to BKPM for foreign investment approval.||Yes||No|
Steps to purchase a turnkey solution in Indonesia
|1.||Healy Consultants Compliance Team receives the required corporate and personal due diligence information from our Client;||1|
|2.||Our Client signs Healy Consultants engagement letter and returns the original to our Singapore Head Office. Our Client settles our fees;||1|
|3.||Our Client confirms by email the planned corporate structure and e-mails the required due diligence. If required, Healy Consultants will be happy to act your Firm’s resident director;||1|
|4.||Healy Consultants provides our Client i) a company name and number ii) a company office address and iii) a corporate bank account number and iv) a tax number. Our Client can inform customers and suppliers;||2|
|5.||Healy Consultants emails the Indonesia shelf company director i) the legal share allotment and legal share transfer ii) the change of company address and iii) the lease agreement in Indonesia (if required);||2|
|6.||The existing Indonesia shelf company director’s signature signs and courier return the originals legal transfer documents to Healy Consultants Indonesia office. Healy Consultants’ Company Secretary Team submits transfer documents to Indonesia company registry for processing;||2|
|7.||Healy Consultants’ Company Secretary Team emails our Client a copy of the signed legal share allotment. Legal share transfer, change of company address and lease agreement for our Client’s record;||2|
|8.||The Indonesia registry approves the change of company ownership application and emails Healy Consultants proof of transaction. Healy Consultants then emails our Client i) the certificate of incorporation and ii) the M&AA with the new shareholders and directors;||4|
|9.||Indonesian service companies are required to give presentation re their business in the country before BKPM. If required, Healy Consultants will be pleased to give this presentation on our Client’s behalf for an additional fee;||4|
|10.||Healy Consultants’ Banking Team and our Client attends a meeting with the Indonesia bank to appoint our Client as the new bank signatory and submit the corporate bank package containing: |
• Signed appointment of bank signatory forms;
• Client’s passport copy and proof of address;
• Indonesia company kit;
• Proof of business together with other Client due diligence;
As always, Healy Consultants will aggressively negotiate a travel exemption for our Client, asking the bank to just perform a skype or phone conversation with the bank signatory. Depending on Client nationality, sometimes we are successful and our Client does not have to travel to Indonesia.
|11.||The bank approves the appointment of the new bank signatory and will courier internet banking documents (login, password etc) to our Client;||5|
|12.||Healy Consultants will courier the following to our Client:|
• Company kit containing original Indonesia corporate documents
• The banking kit;
• Healy Consultants Customer Satisfaction Survey;
|13.||Our Client receives a courier from the bank comprising internet baking information. The bank signatory activates the internet banking.||6|
Inventory of Indonesian shelf companies
|US$31,450||100%||Hotel (Resort and Spa)||42 room Hotel in Bintan;|
License(s): Hotel license with maximum of 20 employees and 42 rooms max.
|License validity until 27th Feb 2020.|
Bank accounts: Citibank, SCB, HSBC and Barclays.
Frequently asked questions
What is a turnkey business in Indonesia?A turnkey business, also known as a shelf company, is a company already registered with the Indonesia authorities. As turnkey solutions providers, Healy Consultants will only need to update i) the company name ii) its shareholders and directors and iii) the bank account signatory.
What is the main advantage of turnkey projects in Indonesia?Indonesia business turnkey solutions enables entrepreneurs to avoid red tape and time consuming procedures required to incorporate a new company. Delivery of complete turnkey solutions can indeed be done in 2 weeks (excluding bank account procedures) while the setup of an LLC takes an average of 16 weeks in Indonesia.
Can Healy Consultants provide me with turnkey solutions for my projects in Indonesia?Yes, Healy Consultants can provide our Clients with full turnkey solutions in Indonesia. Please refer to the information above for more details.
What are the costs related to provision of turnkey solutions in Indonesia?Our fees to provide consulting services and turnkey solutions in Indonesia is US$20,800. Our full turnkey solutions also include the provision of a corporate bank account in Indonesia.
How to register a business in Indonesia?For business registration, our Client will be required to i) reserve the company name ii) supply a lease agreement iii) sign the company setup forms iv) register for tax and social security and v) obtain required business license(s). Healy Consultants’ experts know perfectly how to register a company in Indonesia and will assist our Clients at every step.