Opening the Door to Foreigners
like most information on PMAs on the web, it's at best only half true.
completely irrelevant.
ketinggalan zaman ... SP3 were replace with SPPMA in 2001, if i recall. and even then, it only took me about 2-3 weeks to obtain. not 2-3 *months*.
since this year, SPPMA has been replaced with a new system again, the PPM. this takes 3-4 days processing.
not true for normal residential-type properties. some land offices (BPN) esp in Bali will demand that the land purchase be consistent with the companies purpose.
only indonesian persons (WNI) can hold Hak Milik. *all* indonesian companies, PMA or otherwise, cannot own Hak Milik. They usually use HGB or HGU.
Quote:
The foreign investment may comprise both debt and equity, but the BKPM (Badan Koordinasi Penanaman Modal under the Ministry of Investment in Jakarta) has a rule of thumb that the ratio of debt to equity should be no more than 3:1.
completely irrelevant.
Quote:
Before the establishment of a PMA Company an application has to be made to the Investment Coordination Board for approval of the company and its investment project. This approval is usually received after two or three months in the form of a 'Capital Investment Approval Letter', or 'Surat Pemberitahuan Pesetujuan Presiden' (SPPP).
ketinggalan zaman ... SP3 were replace with SPPMA in 2001, if i recall. and even then, it only took me about 2-3 weeks to obtain. not 2-3 *months*.
since this year, SPPMA has been replaced with a new system again, the PPM. this takes 3-4 days processing.
Quote:
Major disadvantages of using a PMA Company are that the property must be directly used for the approved project, and that a PMA Company Major disadvantages of using a PMA Company are that the property must be directly used for the approved project
not true for normal residential-type properties. some land offices (BPN) esp in Bali will demand that the land purchase be consistent with the companies purpose.
Quote:
and that a PMA Company ? like any other corporate entity (Indonesian or foreign) ? cannot hold a freehold title (Hak Milik). Whenever freehold land is transferred to a corporate entity the title is changed to 'HGB' which has to be renewed after 20 or 30 years
only indonesian persons (WNI) can hold Hak Milik. *all* indonesian companies, PMA or otherwise, cannot own Hak Milik. They usually use HGB or HGU.