OWNED OR RENTAL REAL ESTATE
This group includes the business of buying, selling, renting and operating real estate, both self-owned and leased, such as apartment buildings, residential buildings and non-residential buildings (such as exhibition venues, personal storage facilities, malls, shopping centers and others) as well as the provision of houses and flats or apartments with or without furniture for permanent use, either monthly or annually. Including the activities of selling land, developing buildings to operate independently (for leasing spaces in the building), dividing real estate into land plots without developing land and operating residential areas for movable houses.
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Key requirements to set up a owned or rental real estate in Indonesia
The following requirements are based on the Indonesian business classification code 68110
- Maximum foreign ownership
- Minimum capital
- Rp. 10 billion
- Local SME partnership required
What is a KBLI 68110?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
68110 stands for owned or rental real estate
|Section||Real estate activities|
|Division||Real estate activities with own or leased property|
|Indonesian class||Owned or rental real estate|
Activities similar to Owned or rental real estate
What are the requirements to set up a owned or rental real estate in Indonesia?
- At least two shareholders
- Maximum of 100% of the shares can be held by foreign shareholders.
- Minimum paid up capital is Rp 10.000.000.000,00
- 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||Rp7500000000|
The process of registering owned or rental real estate company in Indonesia
The exact process of registering a owned or rental real estate 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.