PT Biasa (Local Limited Liability Company)
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Timeline: 5 - 7 business days
Local Limited Liability Company (PT Biasa / PT Domestik)
The standard corporate vehicle for Indonesian citizens and domestic entities looking to operate small, medium, or large scale businesses with limited liability protection.
Step-by-Step Formation Process
Step 1: Check and reserve company name through Notary (AHU Kemenkumham).
Step 2: Sign Deed of Establishment (Akta Pendirian) before a certified Notary.
Step 3: Obtain Ministerial Approval from Kemenkumham.
Step 4: Generate Corporate NPWP online through DJP portal.
Step 5: Register on OSS RBA system to generate NIB and Standard Certificates.
Step 6: Open corporate banking account.
Mandatory Documents Required
1. KTP and NPWP of all Indonesian founders (minimum 2 shareholders).
2. Family Card (Kartu Keluarga) of directors.
3. Proof of commercial building lease or office building approval.
4. Three proposed company names in Bahasa Indonesia (mandatory under Law No. 40/2007).
Key Benefits
Shareholders' liability is strictly limited to their subscribed share capital. Full eligibility for government tenders, local public procurements, and domestic reserved business sectors.
Pitfalls to Avoid
Failure to hold the mandatory Annual General Meeting of Shareholders (RUPS Tahunan) within 6 months after the financial year ends.
Statutory Summary
- Capital Requirement:
- No statutory minimum for micro and small scale; mutually agreed by founders based on business scale (Micro: < IDR 1B; Small: IDR 1B - 5B; Medium: IDR 5B - 10B; Large: > IDR 10B).
- Estimated Timeline:
- 5 - 7 business days
- Shareholder Restrictions:
- 100% owned by Indonesian individuals or domestic Indonesian legal entities. Foreign shareholding is strictly prohibited in a PT Biasa.
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