Deciding on which countries to expand your business to can be a complex and difficult decision. As an aspiring entrepreneur, you might have heard of the lucrative business environment of Indonesia and might be wondering about how to check Indonesia company registration. In this article, Tetra Consultants will provide the key steps on how to check Indonesia company registration so that you may better understand the country’s business environment and make a more informed decision about whether you should register company in Indonesia.
Before going over some of these key steps, let us first go over the key types of information many often hope to check on for Indonesian companies after they have registered. Firstly, many like to check on its company status and details. This includes crucial information regarding its business structure, the type of legal activity, the list of business activities, the date of deed revisions, as well as the company’s domicile, which refers to where the legal home of the business is located at.
Secondly, many would want to examine its capital structure and shareholder details. This includes documents such as the company’s list of shareholders, its list of different directors and commissioners, as well as the amount of authorized and paid-up capital.
Last but certainly not least, many would want to review the history of the company, specifically any changes in its deeds, changes in capital structure, as well as all the changes in the shareholders, directors, and commissioners.
Now that you have a better picture of the key types of information many often hope to check on for Indonesian companies after they have registered, you might still be wondering about how to check Indonesia company registration. As such, here are few of the main ways you can learn more about an Indonesian company and obtain its relevant information.
1. Company Websites
If you want to obtain information about a company in the 3 aspects outlined above, one of the easiest and most straightforward ways to start would be to look at its company websites. This is because almost every company would make announcements about their business plans, post relevant announcements, publish annual reports and financial papers, as well as upload a variety of other related documents about the company and its operations. As such, one can directly go to company websites and easily obtain such crucial information.
However, this approach may have some limitations given the inherently subjective nature of such self-published reports. This is because companies have the incentive to present themselves in a more positive light such that consumers, shareholders or even prospective investors view them favourably. Additionally, given hidden branding and marketing goals many companies may have as well, there is a tendency to present information in a more appealing fashion as well. Hence, while firms may attempt to strive for objective accuracy and transparency in their announcements and data in reports, this may not be successfully achieved. As such, one must be wary of these potential biases when referencing self-published reports and data.
2. Local Business Journals and News
As evidenced above, obtaining information about a company through primary sources can be prone to limitations in objectivity and accuracy at times. As a result, third party platforms such as journals and publications, a secondary reference source which collates information about these companies, could be a potential option to acquire important information about a company. This includes a variety of different resources such as the Indonesian Business Review, the Journal of Indonesian economy and business, as well as the Indonesian Journal of Accounting research. All 3 of these examples specialise in collecting and even analysing various information about Indonesian companies. Thus, they could serve as a more reliable platform to acquire information from.
3. Other Online Platforms
If secondary sources like business reports and journals are insufficient, other online third party platforms such as Google News can be a good way to find out more about the company, especially when it comes to its most recent actions and developments. Often, the company’s press releases, financial statements, pending litigations, and contact information for the directors/executives can be obtained within its variety of articles. However, do keep in mind that the extent of detail in the information provided might be limited as such news and its updates tends to skim the surface and focus on present issues. As such, if you are attempting to find out more about aspects of the company’s past actions, transactions and history, you will not find much success.
4. Indonesian company registry
To obtain detailed and specific information about Indonesian companies, one can also refer to the Indonesian company registry. This registry is run and operated by the country’s Ministry of Law and Human Rights and encompasses all the information you need to know about Indonesian companies.
There are 4 steps to successfully acquire a company’s information from this registry. Firstly, identify the specific company you want to learn more about and type in its name on the company registry form for Indonesia. Next, fill out the registration form, including your personal information and contact details such as your name, email address, phone number, and country of origin. Once all of the relevant inputs have been filled in, this company registry form can be submitted.
However, a payment of USD$80 is charged by the Indonesian company registry, with an additional charge of USD$4 for each company name requested. Hence, this company registry form can only begin processing once this payment has been made. Finally, information from the company you request for will be forwarded to your email address within 24 hours. However, do take note that in exceptional cases, it may take up to 3 working days, but you will be notified if such a delay is imminent.
Despite this process being an efficient and accurate way for finding out about any registered Indonesian company, this is restricted only to Private Limited Companies, also known as Perseroan Terbatas (PT) in Indonesia, whereas information regarding other types of company structures such as state owned enterprises or unique forms of private-owned companies like limited liability partnerships, also known as Commanditaire Venootschap in Indonesia, cannot be accessed.
Navigating the country of Indonesia’s complex business climate might be a challenging process – a hassle to say the least. However, given the country’s relatively business friendly environment, expanding consumer markets and a strong growth potential, it is easy to see why many businesses would choose to set up in Indonesia. As such, Tetra Consultants hopes that this article has provided you a much better understanding about the key steps you can consider taking to find out how to check Indonesia company registration so that you can truly decide on whether you should register company in Indonesia yourself.
So, what are you waiting for? Contact us to find out more about the process of starting a business in Indonesia, and our dedicated and experienced team will respond within the next 24 hours. Tetra Consultants will not only empower you by helping to navigate the different regulations of Indonesia, but also aid in facilitating the registration of your company there while providing invaluable, nuanced insights into any potential challenges.