Recently, the Ministry of Trade issued Regulation number 7/M-DAG/PER/2/2017 (Regulation 2017), which is the third amendment of Regulation number No. 36/M-DAG/PER/9/2007 on Trade Business Licenses (Regulation 2007). Regulation 2017 is another effort of the Trade Ministry to simplify licensing procedures, focusing in this regulation on Trade Business Licenses (surat izin usaha perdagangan or SIUP). In our previous column we discussed the simplified procedure of the Company Registration Certificate (tanda daftar perusahaan or TDP). In this column we discuss the repealed SIUP re-registration procedure based on the new regulation.
13 February 2020 (closed)
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Latest Columns Trading Company Indonesia
Distributors and other trading companies were highly protected against foreign investors under the old negative investment list based on Presidential Regulation No. 39/2014 (Old Regulation). The new negative investment list, based on Presidential Regulation No. 44/2016 on the List of Business Fields Which Are Closed and Conditionally Open to Investment (New Negative Investment List), now sets less stringent restrictions for foreign investors for these fields of business. In this column we discuss the changes for trading companies based on the New Negative Investment List.
The Customs Identification Number (NIK) in Indonesia is a personal identity number given by the Directorate General of Customs and Excise to users of customs services, such as importers and exporters. This customs number gives customs users the possibility to access or connect with the customs system. The registration of a Customs Identification Number is required in order to perform customs activities. Without such number trading companies are (in most cases) not able to perform import or export activities.
An Import Identification Number (API) is required in case a company wishes to import goods into Indonesian territory. Without such number a company is not allowed to perform any import activities. Minister of Trade Regulation number 27/M-DAG/PER/5/2012 regarding Provisions on Importer Identification Number (API) as amended by Minister of Trade Regulation number 59/M-DAG/PER/9/2012 (Trade Regulation) regulates the types of API based on the intended use for the product imported.
Before Trading Companies in Indonesia can start business operation they must first submit a Trading License application (SUIP - application). A Trading License application must be submitted to Minister of Trade by attaching all required documents. In this week’s column we will discuss the Trading License application requirements which are regulated by Ministry of Trade Regulation number 36/M-DAG/PER/9/2007 jo 46/M-DAG/PER/9/2009 regarding the Issuance Of Trading Business License.
A Trading Company in most cases needs a Trading License (SIUP) to perform trading activities in Indonesia. The Trading Company must be permanent, continuous, established, working and domiciled in the territory of the Republic of Indonesia, for the purpose of making profit. Generally, activities in the trade sector can be described as a business activity related to the transaction of goods or services, such as sales and purchase and lease conducted with the aim of transfer of title to goods or services with accompanying rewards or compensation.
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