Promo Establishment Small Medium Enterprises - SME
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Small Medium Enterprises
Recently, the number of start-up companies has rapidly increased. Start-up companies can be in the form of limited liability company (Perseroan Terbatas, “PT”) or limited partnership (Commanditaire Vennootschap, “CV”). The rest, start-up companies do not have a certain business entity, which is because some start-up business actors think that Incorporation of a business entity is difficult and takes time so they choose to go with no business vehicle. The Government of the Republic of Indonesia has issued several regulations to support the development of start-up businesses. One of such regulations is Government Regulation No. 29 of 2016 on Amendment of Authorized Capital of Limited Liability Company (“GR 29/16”). GR 29/16 has removed the provision on minimum authorized capital in a limited liability company. Therefore, to support start-up businesses, we provide legal assistance to start-up businesses in incorporating their business vehicle.
What are the differences between PT and CV?
Referring to the prevailing regulation of the Republic of Indonesia, PT is a legal entity. Meanwhile, CV is not a legal entity. CV is only a business entity. The consequence of such status is that shareholders of PT have the responsibility which is limited only to the paid-up capital, while the responsibility of the members of CV is in the form of an unlimited joint responsibility which can even reach the assets owned by each member of CV.
What are the licenses required to establish an SME Company?
The documents and licenses required to establish SME companies in the form of PT are: (1) deed of Incorporation and legalization from the Minister of Law and Human Rights; (2) Taxpayer Registration Number (Nomor Pokok Wajib Pajak, “NPWP”); (3) Business Identification Number (Nomor Induk Berusaha, “NIB”); (4) Business License; and (5) Commercial License.