What is Individual Company?
Based on the 2020 Job Creation Law, now there is a company called an individual PT.
What is an individual PT?
In accordance with the Job Creation Law Article 153A Paragraph 1, an individual PT is:
1) Companies that meet the criteria for micro and small businesses that can be established by 1 (one) person
2) The establishment of the Company for micro and small businesses as referred to in paragraph (1) is carried out based on a statement of
establishment made in the Indonesian language
Summary of Individual Incorporation Requirements:
• Limited Liability Company referred to as Persero is a legal entity established in accordance with the criteria for micro and small businesses
• An individual company is established only by 1 person
• An individual company is established by an Indonesian citizen by filling out a statement of establishment in Indonesian
• Make a statement of establishment in accordance with the format contained in the attachment of PP No. 8 of 2021 PP on MSE Capital
• Individual companies are required to have authorized capital and paid-up capital with the same conditions as Limited Liability Companies for paid-up
capital, namely at least 25% of the authorized capital as evidenced by valid proof of deposit.
• The Indonesian citizen referred to must meet the requirements, namely: must be at least 17 years old and legally competent
A few things to know about an Individual PT:
• An individual PT can only be established with a maximum business capital of Rp. 5,000,000,000
• PT Perorangan Mikro (capital below 1 billion) maximum turnover is Rp. 5,000,000,000
• Small Individual PT (capital below 5 billion) maximum turnover is Rp. 15,000,000,000
• Individual PT does not require a notarial deed