STEEL ROLLING INDUSTRY
This group includes the steel milling business, both hot and cold milling, which makes grinding products for steel wire rods, reinforcing steel, profile steel (H-beam, I-beam and the like), strip steel, rail steel, steel plate, steel. hot rolled sheet and cold rolled sheet coated or uncoated with other metals or non-metals including grinding steel scrap. Including the beam or hot rolled cut steel industry, the hot rolled open section steel industry, the beam and solid section steel industry as a result of the cold drawing, grinding and turning processes, the open section steel industry resulting from progressive cold forming on rolling or folding machines on pressing machines or on rolling of steel flats, cold drawing or stretchuing of steel wire industry,
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Key requirements to set up a steel rolling industry in Indonesia
The following requirements are based on the Indonesian business classification code 24102
- Maximum foreign ownership
- Minimum capital
- Rp. 2.5 billion
- Local SME partnership required
What is a KBLI 24102?
A KBLI is an Indonesian business classification, last revised in 2020. The KBLI determines the regulations for a specific business activity.
24102 stands for steel rolling industry
|Section||Manufacture of basic iron and steel|
|Division||Manufacture of basic metals|
|Indonesian class||Steel rolling industry|
Activities similar to Steel rolling 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 steel rolling 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 steel rolling industry company in Indonesia
The exact process of registering a steel rolling 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.