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APPROVAL FOR DOMESTIC INVESTMENT

Applications for new investment under PMDN arrangements can be filed by :
a. Limited liability companies (Perseroan Terbatas, PT)
b. Partnership companies (Commanditaire Vennootschap, CV)
c. Firms (Firma, Fa)
d. Cooperatives business units (Badan Usaha Koperasi)
e. State owned enterprises (Badan Usaha Milik Negara, BUMN)
f. Regional-administration owned companies (Badan Usaha Milik Daerah; BUMD)
g. Individuals

Applications for new investment under PMDN arrangements shall be filed to :
a. Head of BKPM
b. Chairmen of local BKPMD
In the event that the new capital investment project resides in 2 (two) or more provinces, the applications shall be filed to the Head of BKPM.
   
Approval of Application
Approval of the applications for new investment under PMDN arrangements shall be issued in the form of letter of approval of domestic investments (Surat Persetujuan Penanaman Modal Dalam Negeri, SP-PMDN).
SP-PMDN shall be issued by:
a. Head of BKPM when the applications were filed to Head of BKPM
b. Governors/Heads of Provincial Regions (in this case Chairmen of local BKPMD) when the applications were filed to the Chairmen of local BKPMD.
Notice that the Chairmen of local BKPMD are staffs of Governors/Heads of Provincial Regions. Approvals issued by Governors/Heads of Provincial Regions are, in principle, approvals issued by Chairmen of local BKPMD for the Governors/Heads of Provincial Regions. For simplicity, approvals issued by Chairmen of local BKPMD, hereafter, refer to approvals issued by Chairmen of local BKPMD for the Governors/Heads of Provincial Regions.
SP-PMDN shall be issued not later than 10 (ten) working days starting from the receipt of correct and complete applications.

Other Provisions

PMDN companies with SP-PMDN shall file applications for investment implementation licenses required for the realization of their investments. SP-PMDN shall be automatically cancelled if no realization of projects take place in the form of concrete activities for 3 (three) years starting from the date of its issuance. Concrete activities consist of administrative and physical ones.

Concrete administrative activities shall be those for the following licensing :

a. The location; and
b. bank accounts in the names of PMA companies (especially for new PMA companies); and
c. Customs approval letter for capital goods; and/or
d. Limited importer’s identification number; and/or
e. Decision on the plan for employment of foreign personnel; and/or
f. Building construction permit; and/or
  Nuisance Act permit; and/or
g. Deed of the establishment of companies already validated by the Minister of Justice for capital participation based companies).
   
Concrete physical activities shall be those already conducted :
a. for industries: there are main activities in the form of land clearance covering at least 25 percent of the areas contained in SP-PMDN; or
b. for services and capital participation (holding): there are main activities in the form of land clearance covering at least 25 percent of the areas contained in SP-PMDN, or office/building space.

For more information about DOMESTIC INVESTMENT, please contact
PT. Antariksa (Indonesia Investment Consultant)
Telp. +62 - 361753700 / +62 - 3617421457
Fax. +62 - 361766910

 
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