PALM OIL AND PALM CORE CRUDE OIL PURIFICATION INDUSTRY
This group includes refining crude oil from palm oil into refined bleached deodorized palm oil or from palm kernel oil to refined bleached deodorized palm kernel oil which still needs further processing.
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Key requirements to set up a palm oil and palm core crude oil purification industry in Indonesia
The following requirements are based on the Indonesian business classification code 10434
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 10434?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
10434 stands for palm oil and palm core crude oil purification industry
|Section||Manufacture of food products|
|Division||Manufacture of vegetable and animal oils and fats|
|Indonesian class||Palm oil and palm core crude oil purification industry|
Activities similar to Palm oil and palm core crude oil purification 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 palm oil and palm core crude oil purification 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 palm oil and palm core crude oil purification industry company in Indonesia
The exact process of registering a palm oil and palm core crude oil purification 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.