How to Verify a Company in Indonesia?
Corporate Secretary Service – Verifying a company in Indonesia is difficult, but it can be done when you get help from the right person. When a potential business partner approaches you with an excellent business deal, you should hold back before signing the agreement. It would be best to ensure that the company is genuine and registered with the necessary authorities.
At least take the time to learn all you can about the past and current situation. Knowing how to verify a company in Indonesia is essential so that your investment in Indonesia results in a win-win situation.
Types of Companies
In Indonesia, establishing a company must also be approved by several ministries. So, conducting a background check and verifying a company takes work. Suppose a company is wholly foreign-owned. In that case, it is registered as a PT PMA, and Indonesia’s Negative Investment List permits its industry or business segment.
If you are an experienced business entity in Indonesia, you should know the business segments that allow foreign investment. Otherwise, Indonesian locally-owned companies register as PT. Please note that Indonesia does not allow branch offices under the business establishment law by the Ministry of Law and Human Rights. However, there is leeway for foreigners to open representative offices.
Necessary Checks
Before you surf Google about the business company you want to verify, you require a list of items to check and verify. You should also have the company name and its business registration number. The following is a general checklist for verifying a business company in Indonesia:
- Company category – whether it claims to be in the correct industry or business segment
- Date of establishment – does the claim experience match
- Business assets – whether the business company has valuable assets
- Detailed information about company directors
- Financial Statements – performance ranging from one to five years
- Business Model
- Competitive Advantage
- Strong leadership – whether it has good management in place to lead the company
- Capital (Paid-up and Authorized)
Read Also: How to Open Business Account in Indonesia?
Obtaining Data
Obtaining the above data can be challenging because registering a business company in Indonesia occurs only in one place. Nevertheless, it is not impossible. Nowadays, one can quickly get data through data centers and the Internet.
Indonesia may have a strict policy that prohibits public access to official and confidential data, such as company verification. However, there are credible organizations that can help you verify companies in Indonesia. These companies exist to help individuals or companies with business matters in Indonesia. Most will be able to provide comprehensive business solutions to corporate and business issues. The more data you get about a company, the better risk calculation you can have before making important decisions.
Ask for Help
We have experts in verifying companies in Indonesia, even if you are outside the Asian region. Our partners worldwide can guide you to the right people to ensure you get the right solutions to your business questions. As Indonesia opens more industries to foreign investment, more local companies may emerge to partner with you for a mutually beneficial relationship. You also have the legal right to verify companies in Indonesia before further investment.
Don’t worry about developing your business by setting up a company in Indonesia, because Portcorp is here as a solution for your business. Portcorp is your comprehensive corporate secretary service in Indonesia. With our presence, you can get a dedicated company secretary to support you to what you need. Our company secretaries will track deadlines and file paperwork so your business keeps running smoothly. Contact us now for your business success in the future!
