COCONUT CRUDE OIL INDUSTRY
This group includes the business of processing coconut into crude oil which still needs further processing and this product is usually used by other industries.
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Key requirements to set up a coconut crude oil industry in Indonesia
The following requirements are based on the Indonesian business classification code 10422
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 10422?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
10422 stands for coconut crude oil industry
|Section||Manufacture of food products|
|Division||Manufacture of vegetable and animal oils and fats|
|Indonesian class||Coconut crude oil industry|
Activities similar to Coconut crude oil industry
- Installation of industrial machinery and equipment
- Other repair transportation equipment, not motor vehicles
- Repair of other equipment
- Aircraft reparation
- Other electrical equipment reparation
- Repair of ships, boats and floating buildings
- Reparasi lokomotif dan gerbong kereta
- Photographic and optical equipment reparation
- Electric motor reparations, generators and transformers
- Reparasi baterai dan akumulator listrik
- Machine repair for specific purposes
- Repair measures, test tools and navigation and controller equipment
What are the requirements to set up a coconut crude oil industry in Indonesia?
- At least two shareholders
- Maximum of 100% of the shares can be held by foreign shareholders.
- Minimum paid up capital is Rp 2.500.000.000,00
- Paid-up capital will not be injected in the company during the registration process. Instead, the shareholders issue a statement letter that at least the amount of minimum paid-up capital will be injected to the company once the registration is completed.
- At least one director. At least one of the directors must be an Indonesian resident. The directors are in charge of the daily operations of the company.
- At least one commissioner. Commissioners are overseeing the work of directors on behalf of the shareholders.
- The same person cannot be both a director and a commissioner.
- There is no requirement for the director or commissioner to hold shares in the company.
- Registered address in a building with the correct building permit.
Example of typical shareholder table
|Name||Country of origin||Role||Shares||Capital contribution|
|Smith Industries Ltd.||Australia||7500||Rp1875000000|
The process of registering coconut crude oil industry company in Indonesia
The exact process of registering a coconut crude oil industry company depends on the location of your company's registered address.
The fastest way to register a company in Indonesia is in South Jakarta (Jakarta Selatan), using Emerhub's registered address. This cuts down the registration time to five working days.
In Bali, the typical registration time is 3-4 weeks. Elsewhere in Indonesia the registration times vary between 2-6 weeks.