Company Dissolution( Close PMA)

DETAILS:
PMA stands for Penanaman Modal Asing, which translates to Foreign Direct Investment (FDI). When referring to a "closed PMA," it typically indicates a foreign investment company that has been officially closed or dissolved

REQUIREMENTS:

Board of Directors Decision:

• The decision to close the PMA must be formally made by the company’s board of directors. This decision should be documented in the minutes of a meeting.

• Documentation:

  • Prepare the necessary documents for the closure, including:

    • Minutes of the Meeting: Documenting the decision to close the PMA.

    • Deed of Establishment: The company’s legal founding document.

    • Financial Statements: The latest financial statements to assess the company's financial standing.

    • Tax Clearance Certificate: Proof that all taxes have been settled, typically obtained from the local tax office (NPWP).

    • Statement of Assets and Liabilities: A report detailing the company’s remaining assets and liabilities.

• Notification to Relevant Authorities:

  • Notify the Investment Coordinating Board (BKPM) about the decision to close the PMA. This may involve submitting a formal letter requesting the closure and any supporting documentation.

• Settlement of Obligations:

  • Ensure that all outstanding obligations are settled before closure, including:

    • Debts to Creditors: Pay off any existing debts.

    • Employee Compensation: Ensure all employee rights and compensation are fulfilled.

    • Taxes: Make sure all tax obligations have been satisfied, and obtain the necessary tax clearance certificates.

• Liquidation Process:

  • If applicable, initiate the liquidation process to sell off remaining assets and pay off debts. This may require:

    • Appointing a liquidator to manage the process.

    • Preparing a liquidation plan to outline how assets will be managed.

• Dissolution Application:

  • Once all obligations have been settled and the liquidation process (if required) is complete, submit the necessary documentation to apply for the official dissolution of the PMA:

    • Application for dissolution addressed to the Ministry of Law and Human Rights.

    • Supporting documents, including the minutes of the board meeting, tax clearance, and liquidation results.

• Official Confirmation:

  • After the dissolution application is processed, you will receive official confirmation that the PMA has been closed and is no longer recognized as a legal entity in Indonesia.

• Final Reporting:

  • Depending on the regulations, you may need to provide a final report to the BKPM or other relevant authorities detailing the closure process and outcomes.

Legal Visa Bali Service:

Company Dissolution (Close PMA): By Request