Legislation of Indonesia

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Tax treaties entered

Algeria
Armenia
Australia
Austria
Bangladesh
Belarus
Belgium
Brunei
Bulgaria
Cambodia
Canada
China
Croatia
Czech Republic
Denmark
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France
Germany
Hong Kong
Hungary
India
Iran
Italy
Japan
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Korea (North)
Korea (South)
Kuwait
Laos
Luxembourg. Malaysia
Mexico
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Morocco
Netherlands
New Zealand
Norway
Pakistan
Papua New Guinea
Philippines
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Portugal
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Venezuela
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Zimbabwe

Tax Exchange Information Agreement (TIEA)

Bahamas
Bermuda
Guernsey
Isle of Man
Jersey
San Marino

List of state regulatory authorities

President of the Republic of Indonesia
People’s Consultative Assembly
Regional Representative Council
Supreme Audit Agency
Ministry of Finance
Ministry of Foreign Affairs
Ministry of Justice and Human Right
General Elections Commission

Corporate info

Legal system
Types of entity
Shelf companies permitted
No
Incorporation timescale for a new company
Company suffix
Sensitive words
Cyrillic alphabet permitted in company name
No
Local registered office
No
Local registered agent
No
Information to be kept at the registered office
Seal required, type of seal
Redomiciliation (to, from) permitted

Director and secretary

Minimum number of directors
Residency requirements for directors
Corporate directors permitted
No
Directors’ meetings/frequency/location
Disclosure to local agent
No
Disclosure to public
No
Company secretary required
Residency requirements for a secretary
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
Residency requirements for shareholders
Corporate shareholder permitted
No
Meetings/frequency/location
Disclosure to local agent
No
Disclosure to public
No
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
Minimum issued share capital
Minimum paid share capital
Authorized capital payment deadlines
Issued capital payment deadlines
Standard currency
Standard authorized share capital
Standard par value of shares
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
Min. rate for corporate tax
Corporate tax (in detail)
Capital gains tax
Capital gains tax. Details
VAT
VAT. Details
Withholding tax
Other taxes
Exchange control
Government fee
Stamp duty

Accounts

Requirement to prepare accounts
No
Requirement to file accounts
No
Publicly accessible accounts
No
Requirement to file Annual Return
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
The islands of the Malay Archipelago and the western part of the island of New Guinea
Total area
1б.919.440 sq. km.
Population
280.488.501 (2022)
Capital
Jakarta
National currency
Indonesian Rupiah
Conditional reduction of currency
IDR
Against USD
0,000066
Climate, average max and min t°
Equatorial, humid, subequatorial in some regions
Time difference from Moscow
- 4 hours
Dialing code
+62
State language
Indonesian
Ethnic groups
The most numerous are Javanese (over 40%), Sundanese (~15%), Madurians (~4%), Minangkabau (~3%), Bugis (~2.5%)
Literacy rate
95,4% (2019)
History
Credit rating
BBB-
Government type
Unitary state, presidential republic
Executive branch
The head of state is the president, who forms and heads the government
Legislative branch
The highest legislative body, the People's Consultative Congress, consists of two chambers: the Council of People's Representatives and the Council of Regional Representatives
Judicial branch
The highest authority is the Supreme Court, which administers the criminal, civil, administrative, commercial, and tax justice systems. The Supreme Court is also the highest appellate court
Unemployment
5.83% (2021)
GDP per capita rank
110 (2021)
Corruption perceptions index rank
38 (2021)

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Banks of Indonesia

Bank
The cost of opening an account, $
Global rating
Countrywide rating
GSL rating
2 500
N/A
N/A
2 500
N/A
N/A
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