RETAIL SALE OF MUSIC AND VIDEO RECORDINGS IN SPECIALIZED STORES
This group includes retail businesses that are specialized in music and video recordings, such as audio tapes, CDs and cassettes and video tapes and DVDs. Includes retail trade of blank tapes and CD or DVDs.
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Key requirements to set up a retail sale of music and video recordings in specialized stores in Indonesia
The following requirements are based on the Indonesian business classification code 47620
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 47620?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
47620 stands for retail sale of music and video recordings in specialized stores
|Section||Retail sale of cultural and recreation goods in specialized stores|
|Division||Retail trade, except of motor vehicles and motorcycles|
|Group||Wholesale and retail trade; repair of motor vehicles and motorcycles|
|Indonesian class||Retail sale of music and video recordings in specialized stores|
Activities similar to Retail sale of music and video recordings in specialized stores
- Non-store retail trading, kios, five foot and other market los ytdl
- Retail trading of paper, paper goods, stationery, printing goods, sporting tools, music tools, photography and computer tools
- Perdagangan eceran keliling barang kerajinan, mainan anak-anak dan lukisan
- Perdagangan eceran keliling tekstil, pakaian, alas kaki dan barang keperluan pribadi
- Retail trading household and kitchen equipments
- Retail trade running fuel and lubricating oil
- Perdagangan eceran keliling komoditi makanan dari hasil pertanian
- Retail trade on food, beverage or tobacco commodities processed industry
- Retail trading of chemicals, pharmacies, cosmetics and laboratory equipment
- Retail trading through the media for a variety of other goods
- Retail trade on a fee for service (fee) or contract
- Retail trade through media for mixed goods as such in 47911 sd 47913
What are the requirements to set up a retail sale of music and video recordings in specialized stores 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 retail sale of music and video recordings in specialized stores company in Indonesia
The exact process of registering a retail sale of music and video recordings in specialized stores 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.