EXCAVATION OF ASBESTOS
This group includes the business of extracting asbestos in the form of fibers or not. Cleaning and separation activities that cannot be administratively separated from the excavation of asbestos are included in this group.
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Key requirements to set up a excavation of asbestos in Indonesia
The following requirements are based on the Indonesian business classification code 08994
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 08994?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
08994 stands for excavation of asbestos
|Section||Mining and quarrying|
|Division||Mining and quarrying n.e.c.|
|Group||Other mining and quarrying|
|Indonesian class||Excavation of asbestos|
Activities similar to Excavation of asbestos
- Excavation of quartz or sand
- Other mining and quarrying ytdl
- Excavation of asbestos
- Excavation of feldspar and kalsite
- Natural asphalt mining
- Extraction of peat
- Extraction of salt
- Precious stone mining
- Pertambangan yodium
- Mining potash (potassium carbonate)
- Mining of minerals, chemicals and other fertilizers
- Phosphate mining
What are the requirements to set up a excavation of asbestos 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 excavation of asbestos company in Indonesia
The exact process of registering a excavation of asbestos 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.