SIUP Re-Registration No Longer Required for Trade Companies

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SIUP re-registration trading company

Trade Minister Removes the Requirement to Re-Register Trade Business License (SIUP)

SIUP re-registration trading companyRecently PNB Law Firm provided a new legal business column for the investment website indonesia-investments.com. In the column we discuss the Ministry of Trade issued Regulation number 7/M-DAG/PER/2/2017 (New Regulation), the third amendment of  Regulation number No. 36/M-DAG/PER/9/2007 on Trade Business License (SIUP). The New Regulation aims to simplify investment procedures in Indonesia, and thereby making Indonesia more attractive for for both local and foreign investors.

Only companies which are active in trading require a trade business license, know as SIUP. Without such license companies are not allowed to perform trading activities, unless:

  1. the company is a branch office or a representative office; or
  2. the company’s asset capital is maximum 50 ¬†million rupiah.

Before the New Regulation came into force, trading companies were required to re-register their SIUP every five years. The New Regulation now removes this requirement and re-registration is no longer required.

Readers can find the full version of the column on indonesia-investments.com.

 

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