Invest in Indonesia would be a wise choice for foreign companies to do. Indonesia has emerged as a promising destination for Foreign investment. As the world’s fourth most populous country, Indonesia is one of the strongest economies in Southeast Asia. With its plethora of natural resources, large territory, and continuously growing market, Indonesia’s stature as a place to invest grows stronger than ever. Foreign Business owners’ consider to invest in Indonesia because of those reasons.
What Are the Steps to Invest in Indonesia?
In order to invest in Indonesia, there are several steps you must consider. Therefore, it would be better to have a clear and thorough understanding about the investment climate. Since 2018, the Indonesian government has introduced the Online Single Submission (OSS) as an online gateway for investment and business establishment. The aim of this system is to make it easier for micro, small, and medium enterprises to establish themselves.
Recently, the government introduced the OSS-RBA (Risk-Based Analysis), which differentiates the business depending on their risk scale. For new investors, this new system can help you measure and assess the potential risk of your investment.
Procedures to Invest in Indonesia
Here are the procedures to invest in Indonesia:
- OSS Account Registration
To create an OSS account, you must provide your identity number. But tor foreign investors, you can replace it with your passport number. You will also have to enter details about your business. After completing all of the forms, you will receive the OSS username and password.
- NIB Registration
After creating your OSS account, you will also need to obtain a business identification number. This functions as your main identity while carrying various business and investment in Indonesia.
According to the risk scale of your business, you will need to obtain special licenses. For medium low and medium high risk businesses, you will need a self-declaration of your business standards. Meanwhile, if you have a high risk business, to invest in Indonesia, you will need to obtain a special license from related Ministry and other governmental institutions.
Risk-Based Business Classification in Indonesia
- Low-Risk Business owners are required to have a Nomor Induk Berusaha (NIB)/Business ID Number.
- Medium-Risk Business owners are required to have NIB and standard certificates.
- High-Risk Business owners are required to have NIB and a business license
How can Double M help?
Indonesia is an excellent destination for investment. With Double M’s help, you will be able to invest in Indonesia and register company in Indonesia.