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APPROVAL FOR FOREIGN INVESTMENT

Applications for new investment under PMA arrangements can be filed by

a. Foreign citizens and/or foreign statutory bodies and/or PMA companies
b. Foreign citizens and/or foreign statutory bodies and/or PMA companies along with Indonesian citizens and/or Indonesian statutory bodies.

Applications for new investment under PMA arrangements shall be filed to

a. Head of BKPM
b. Heads of local representative offices of the Republic of Indonesia
c.

Chairmen of local BKPMD.

In the event that the new investment project resides in 2 (two) or more provinces, the applications shall be filed to the Head of BKPM.
Applications for new investments under PMA arrangements shall be filed by using Model I/PMA form.
   
Approval of Application

Approval of applications for new investment under PMA arrangements shall be issued in the form of letter of approval of foreign investments (Surat Persetujuan Penanaman Modal Asing, SP-PMA).
SP-PMA shall be issued by :
a. Head of BKPM when the applications were filed to Head of BKPM
b. Minister of Foreign Affairs (in this case Heads of local representative offices of the Republic of Indonesia) when the applications were filed to the Heads of local representatives offices of the Republic Indonesia
c. Governors/Heads of Provincial Regions (in this case Chairmen of local BKPMD) when the applications were filed to the Chairmen of local BKPMD.
Notice that the Chairmen of local BKPMD are staffs of Governors/Heads of Provincial Regions. Approvals issued by Governors/Heads of Provincial Regions are, in principle, approvals issued by Chairmen of local BKPMD for the Governors/Heads of Provincial Regions. For simplicity, approvals issued by Chairmen of local BKPMD, hereafter, refer to approvals issued by Chairmen of local BKPMD for the Governors/Heads of Provincial Regions.
SP-PMA shall be issued not later than 10 (ten) working days starting from the receipt of correct and complete applications.


Other Provisions

PMA companies with SP-PMA shall file applications for investment implementation licenses required for the realization of their investments. SP-PMA shall be automatically cancelled if no realization of projects take place in the form of concrete activities for 3 (three) years starting from the date of its issuance. Concrete activities consist of administrative and physical ones.

Concrete administrative activities shall be those for the following licensing :

a. the location license or building lease agreement (especially for PMA companies in services sector) or regional mining license or mining concession (especially for PMA companies in the field mining) and;
b. bank accounts in the names of PMA companies (especially for new PMA companies); and
c. customs approval letter for capital goods; and/or
d. limited importer’s identification number; and/or
e. decision on the plan for employment of foreign personnel (especially for PMA companies using expatriates); and/or
f. building construction permit; and/or
g. Nuisance Act permit; and/or
h. deed of the establishment of companies already validated by the Minister of Justice for capital participation based companies).
   
Concrete physical activities shall be those already conducted :
a. for industries: there are main activities in the form of land clearance covering at least 25 percent of the areas contained in SP-PMA; or
b. for services and capital participation (holding): there are main activities in the form of land clearance covering at least 25 percent of the areas contained in SP-PMA, or office/building space.

For more information about FOREIGN INVESTMENT, please contact
PT. Antariksa (Indonesia Investment Consultant)
Telp. +62 - 361753700 / +62 - 3617421457
Fax. +62 - 361766910

 
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