SEA GRASS PROCESSING INDUSTRY
This group includes the business of processing seaweed into processed dry seaweed (alkali treated carrageenan chips), gelatin, agar, carrageenan and others.
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Key requirements to set up a sea grass processing industry in Indonesia
The following requirements are based on the Indonesian business classification code 10298
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 10298?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
10298 stands for sea grass processing industry
|Section||Manufacture of food products|
|Group||Processing and preserving of fish, crustaceans and molluscs|
|Indonesian class||Sea grass processing industry|
Activities similar to Sea grass processing industry
- Other biota water cooling or testing industry
- Sea grass processing industry
- Other processing and preservation industry for other water biota
- Other biota water protection industry
- Multiple water biota industry or fermentation industry
- Other biota water based industries
- Other biota water salt or drying industry
- Other biota water figure or grilling industry
- Industri pembekuan biota air lainnya
- Other processing and preserving industry for fish
- Manufacture of processing and preserving of fish and water biota (not shrimp) in can
- Industry of processing and preserving of shrimp in can
What are the requirements to set up a sea grass processing 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 sea grass processing industry company in Indonesia
The exact process of registering a sea grass processing 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.