Smart Legal Consulting congratulates its valued client, PT Indo Sultan Jaya (“Indosultan”) for successfully go through in the Indonesia Investment Coordinating Board (BKPM). PT Indo Sultan Jaya is a 100% foreign investment company, which produces soaps. All shareholders of PT Indosultan are from Pakistan.
In October 17th, 2016, BKPM has approved the investment application submitted by PT Indosultan. The application was stated as clear and complete in term of documents and information. The success story of PT Indosultan was also covered by NHK, a Japan’s National Public Broadcasting Institution. BKPM wanted PT Indosultan to become a role model regarding the 3 Hour Investment Licensing Service in order to attract more investors to come to invest their money in Indonesia.
The 3 Hour Investment Licensing Service is one of the concrete programs initiated by The Administration of Joko Widodo and Jusuf Kalla. Launched in January 2016, The program was aimed to boost the investment climate, especially by cutting the bureaucratic red tape.
Previously, the investment licensing process in BKPM would take 23 days or more. This long process had created a barrier for investors to have a business in Indonesia. Therefore, the Government is willing to fix the problem by significantly shortening the process length within only 3 hour.
As regulated by BKPM, the 3 Hour Investment Licensing Service is for investor whose investment commitment is minimum IDR100 billion or employ more than 1000 Indonesian workers. Within the three hours, the investor will receive eight preliminary permit documents including a principal investment permit, deed of establishment, tax ID, import identification number, and work permits.
SMART Legal Consulting considered the 3 Hour Investment Licensing Service as a very helpful facility for investors who are willing to run their business in Indonesia. The 3 Hour Investment Licensing Service is very effective and efficient for investors when they proceed the investment license.
As an Indonesian Corporate Legal Firm which provides one-stop legal solution for business actors, SMART Legal Consulting also believes the 3 Hour Investment Licensing Service will effectively prevent the corruption in business sector. At the end, it will create a better investment climate and boost the foreign investors’ trust on Indonesia.
SMART Legal Consulting is an Indonesian corporate Legal firm (SMART) which provides one-stop legal solution for everyone who run business in Indonesia. Consisting of professionals, SMART focuses on providing effective and best solutions and being your full time partner for the development and sustainability of your business.