New Company Form

[lifelongexpat]

I'm wondering if something like this would ever have a chance of getting off the ground:

A new form of PT company for KITAP holders, which would be a simplified version of a PMA company with less restrictions and which costs less to set up and administer.

The features would be as follows:

1. 100% shareholding permitted by KITAP holders.

2. KITAP holders can act as directors and komisaris.

3. Open to all business categories except the sensitive ones on the negative investment list.

4. A modest paid up capital e.g. 250-500 juta.

5. Must employ a small number of local workers (quota would depend on the industry).

6. No need for an IMTA (set in stone).

Just a random idea I came up with and it would be interesting to see what others think.

 

[atlantis]

I'm wondering if something like this would ever have a chance of getting off the ground:

A new form of PT company for KITAP holders, which would be a simplified version of a PMA company with less restrictions and which costs less to set up and administer.

The features would be as follows:

1. 100% shareholding permitted by KITAP holders.

2. KITAP holders can act as directors and komisaris.

3. Open to all business categories except the sensitive ones on the negative investment list.

4. A modest paid up capital e.g. 250-500 juta.

5. Must employ a small number of local workers (quota would depend on the industry).

6. No need for an IMTA (set in stone).

Just a random idea I came up with and it would be interesting to see what others think.

It would certainly be a great idea, but it would definitely be a legal headache for lawmakers because almost all of your points are conflicting with one or several UU. It would require a modification/amendment of each of these statutes, an effort our zealous and hard working DPR certainly rank very high in their priorities.

I personally don't forecast any legal improvement to our situation before years. The status quo will remain. In fact, considering my personal situation, I way prefer it this way. It sets very few limits.

 

[lifelongexpat]

You're probably right and it won't happen any time soon.

On the flip side of the coin, there have been numerous improvements in recent years, so maybe it's not an outright impossibility.

I recall a situation when I lived in a small Mediterranean country for 7 years. When I first arrived, foreign ownership was restricted to 49%. In the space of that 7 years, 100% foreign ownership became legal and it benefitted the economy greatly. I know it's Europe and not RI at the end of the day, but still it shows anything is possible in the goodness of time.