COMPULSORY SOCIAL SECURITY ACTIVITIES
This group includes the funding and administration of compulsory social security organized by the government, such as health social security, accidents, unemployment and pensions, programs to overcome income loss problems caused by childbirth, temporary disability, widow status and others.
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Key requirements to set up a compulsory social security activities in Indonesia
The following requirements are based on the Indonesian business classification code 84300
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 84300?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
84300 stands for compulsory social security activities
|Section||Compulsory social security activities|
|Division||Public administration and defence; compulsory social security|
|Indonesian class||Compulsory social security activities|
Activities similar to Compulsory social security activities
What are the requirements to set up a compulsory social security activities 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 compulsory social security activities company in Indonesia
The exact process of registering a compulsory social security activities 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.