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As the largest country and biggest market in South East Asia, endowing an abundance of natural resources, Indonesia is open to foreign companies and foreign investors. In order to take advantage of the huge investment opportunities in the country, there are a number of steps that foreign investors may have to look at before they start their business.
Foreign investors must first locate a business sector which suits the nature of their business. Once a decision has been made, an investment application form for foreign investment should be completed and submitted to the Investment Coordinating Board, known as Badan Koordinasi Penanaman Modal (BKPM). The BKPM then assesses the information provided and issues an initial investment approval.
After acquiring the initial approval, a limited liability company must be founded under the Indonesian company law to establish the Articles of Association which are made by the public notaries in Indonesia. Once the company is legally established, it can obtain tax payer registration number for foreign investment from the taxation office and open bank account as a foreign investment company at a foreign exchange bank of Indonesia.
For more information and guidance on investment in Indonesia please visit: www.bkpm.go.id