How to Convert an Indonesian PT into a PT PMA Company in 2021?
Registering a new business in Indonesia is both challenging and time-consuming for foreigners. Since 2003, Healy Consultants Group PLC has been recommending our Clients to purchase our fast nominee solution in Indonesia. Our Client will then be able to start i) trading ii) issuing sales invoice and iii) signing contracts. Over the following 5 months, Healy Consultants Group PLC will appoint our Client’s preferred directors, shareholders and bank signatories. This process is locally known as PT-PMA conversion.
What is the PT-PMA conversion?
- Healy Consultants Group PLC assists our Client to register a fully local-owned limited liability company (PT) in Indonesia using our temporary professional, passive nominee directors and shareholders and bank signatories;
- Healy Consultants Group PLC opens a multicurrency corporate bank account on behalf of our Client while acting as the temporary bank signatory. Our Client injects the paid-up share capital into the corporate bank account;
- Thereafter, Healy Consultants Group PLC proceeds to change directors, shareholders and bank signatories from our nominees to our Client’s preferred individuals;
- Instead of 4 months, our Clients can expect to legally conduct business within 6 weeks. All going well, the whole engagement will be completed within 5 months.
Steps to take for PT-PMA conversion
- Registering a PT: To register a PT company in Indonesia, it is mandatory to have i) one local director ii) two local shareholders and iii) one commissioner. Healy Consultants Group PLC will provide the full package of passive nominees and incorporate the company within 6 weeks;
- Opening of multicurrency corporate bank account: After a PT company is registered, Healy Consultants Group PLC supplies our Client an Indonesian multicurrency corporate bank account using our temporary bank signatories. This bank account will be used to inject paid-up share capital;
- Preparation of investment plan: Healy Consultants Group PLC assists our Client to prepare an investment plan for approval by Capital Investment Coordinating Board (BKPM). The business plan should consist of minimum investments of US$1.2milion of which 25% must be paid-up;
- Conversion of PT into PMA: Upon registration of a PT company in Indonesia, Healy Consultants will convert the same into a PMA company that will be 100% foreign owned by our Client. Healy Consultants Group PLC will prepare the required documents to change shareholders and directors and bank signatories including share allotment and share transfer. Client is also required to inject a paid-up capital of at least US$300,000 into the corporate bank account;
- Registration of Healthcare and Social Security BPJS: After PT-PMA conversion is completed, it is mandatory to have at least 2 employees to be registered with BPJS. Healy Consultants Group PLC is able to complete the registration within 2 weeks;
- Securing work permit: After BJPS is registered, at least one director is required to have a KITAS (Indonesian work and residence permit). Healy Consultants will prepare a quality application for our Client’s preferred employee and expect the same to be completed within 8 weeks.
Our service packages
- For a total engagement fee of US$64,100, Healy Consultants Group PLC will project-manage the A to Z of your PT-PMA conversion. Total engagement period will be 5 months;
- Our standard package of services includes i) company registration ii) company secretary and registered address services iii) opening Indonesian multicurrency corporate bank account iv) sourcing qualified resident director v) registration of healthcare and social security BPJS and vi) securing work permit;
- Additionally, our Firm can also offer multiple additional support services, including i) accounting and bookkeeping services ii) merchant account opening services iii) drafting of prospectus if your Firm is planning to issue structured products and iv) assistance to recruit employees;
- Refer to attached pdf file to view updated sales invoice with our latest notes: View invoice PDF