Consulting after setting up a company in Indonesia

After completing the process of registering a company in Indonesia, businesses need to complete a number of establishment procedures. Viet An Law would like to guide you through some procedures after establishing a company in Indonesia. Hope you will have a good start and success in the investment process in Indonesia.

Consulting on applying for a business identification number after setting up a company in Indonesia

Applying for a Business Identification Number (NIB) is an essential step for any business that wants to operate legally in Indonesia. NIB is more than just a series of identification numbers; It also serves as a basic business license and access to a wide range of other services and licenses.

What is a Business Identification Number (NIB)?

NIB (Nomor Induk Berusaha) is a unique 13-digit code, issued to businesses operating in Indonesia. It has many important meanings:

• Business identification: Helps distinguish businesses clearly and accurately.
• Basic Business License: Replace many types of licenses in the past, simplifying administrative procedures and saving time for businesses.
• The “gateway” to access services: Opening opportunities for businesses to apply for specialized licenses, participate in social insurance programs, and carry out import and export activities smoothly.

What role does NIB play?

NIB plays a central role in many business activities, including:

• Replacing Traditional Licenses: NIB has replaced the Certificate of Registration (TDP), Certificate of Address (SKDP) (applicable to businesses in Jakarta), and several other licenses, minimizing the complexity of administrative procedures.
• Essential business license: NIB is often considered a core business license, allowing businesses to operate legally.
• Import Identification Number (API): The NIB is also an API, facilitating businesses to participate in international trade activities.
• Connection to the customs system: NIB allows businesses to easily access and interact with the customs system.
• Conditions for participating in social insurance: NIB is a mandatory requirement to participate in social insurance programs on health (BPJS Kesehatan) and labor (BPJS Ketenagakerjaan), ensuring the benefits of employees.

NIB application process via OSS system

The application for NIB is done entirely online through the National Online Single Window (OSS) system. This process is designed to optimize time and effort for businesses:

• OSS System Access: Start by visiting the official website of the OSS system.
• Create a business account: Create a separate account for your business on the system.
• Provide detailed information: Fill in the required information completely and accurately, including information about the business, owner, and field of operation.
• Upload Required Documents: Upload the required documents.
• Online application: After checking the information filled out, the enterprise proceeds to submit the application online through the system.
• Track processing progress: Businesses can track the status of their records on the OSS system.
• Receive NIB: After the application is approved, the NIB will be issued to the business.

Consulting on opening a bank account after setting up a company in Indonesia

Opening a bank account for a business in Indonesia is an important step after setting up a company and obtaining a NIB. Bank accounts allow businesses to make financial transactions, manage cash flow, and comply with legal regulations.

Types of bank accounts for businesses in Indonesia

Banks in Indonesia often have many different types of business accounts, suitable for each specific need:

• Current Account: The most common type of account, used for daily transactions such as payments, receiving money, and transfers.
• Savings Account: Used to deposit money and receive interest, usually not used for large commercial transactions.
• Time Deposit Account: Deposit money for a certain period of time and receive a higher interest rate, less flexible than a current account.
• Foreign Currency Account: Allows businesses to hold and trade in different currencies.

Popular Banks for Business in Indonesia

There are many banks operating in Indonesia, both state-owned and private banks. Some popular banks for businesses include:

• State banks: Bank Mandiri, Bank Central Asia (BCA), Bank Negara Indonesia (BNI), Bank Rakyat Indonesia (BRI).
• Private banks: CIMB Niaga, Danamon, PermataBank, HSBC Indonesia, Citibank Indonesia.

The list of documents and documents for opening a bank account includes

Each bank may require different documents, but in general, businesses need to prepare the following documents:

• Business Registration Certificate (Akta Pendirian Perusahaan): Notarized copy.
• Business Identification Number (NIB): Copy.
• Certificate of company address (Surat Keterangan Domisili Perusahaan): Copy.
• Business License (Surat Izin Usaha Perdagangan – SIUP) (if any): Copy.
• Corporate Tax Identification Number (NPWP): Copy.

Customers who need to support procedures after establishing a company in Indonesia, please contact Viet An Law for the fastest support!