½ûÂþÌìÌÃ

You need about three times that to open  PT PMA legally.

This is why I’m also looking to sustain an existing business or look for a partner.

@Lorenzo Riva i don't have any money for investing anyway but i have coordinating skill sets and understanding restaurant management, you can hire me without any pay on starting period

This is why I’m also looking to sustain an existing business or look for a partner.
-@Lorenzo Riva

Look up the rules about PT PMA companies. You are, due to lower than required investment, unable to do so.

That means your idea is legally impossible.

@Lorenzo Riva i don't have any money for investing anyway but i have coordinating skill sets and understanding restaurant management, you can hire me without any pay on starting period
-@muhammedjamshad9

Not happening.

You would need an employer sponsored KITAS and work permit.

Indonesian law is designed to stop people doing what you intend

@Fred

I am looking for an Indonesian partner as a matter of facts.

Also I can arrive to fulfill a paid up capital of half million €

Check out the requirements for a PT PMA.

You have got to be so careful when doing business with a local. In the mid 90's there was an Italian guy who invested a ton of money to make a huge two storey restaurant in Kerobokan overlooking rice paddy fields. He partnered with people I knew well who were also one of my suppliers back then. They kicked him out and he lost everything. I've known other incidents too where locals in Bali have been dishonest.

I have no idea, but are you entitled to be the majority shareholder? I certainly hope so.

I know someone who might be able to help for setting up the restaurant etc, but not for the PT PMA and not for investment. He has been director of catering, restaurants etc for 5 star hotels in Bali and he is Balinese and fluent in English. His wife is operations or general manager of a 5 star hotel in Kuta. He is very dynamic and capable. Not sure if that is of interest for either of you.

@wyngrove60

@wyngrove60

thank you very much for precious info.

I will write you back once I will need his contact!

Lorenzo

For any reader.

Plenty of people try to get around the rules for investment in Bali, but it's always a very bad idea.

The logic is simple.

• Once you get around the rules, and plenty do, your legal standing is zero.
• That means the partner can cut you out, leaving you with absolutly no hope of recovering your investment
• It also leaves you with a dodgy immigration status, thus you can get kicked out of Indonesia with the same financial hit

Readers - Stick to the rules because there are plenty of con artists out there who won't so much as blink before they rip you off for the lot, and there's no legal path to getting your cash back

As for getting into business bed with a total stranger - I won't even bother to comment.

I totally agree with what Fred says. Keep it legal and do everything by the book and use a good law firm to protect yourself. Also watch out for foreigners as well as locals looking to take advantage of you. Bali seems to attract the crooks as well as the good.

@Lorenzo Riva

When you next visit Bali let me know and I'll see if he has the time or interest to meet. Between him and his wife they know a lot of people in the hotel business including those crazy rich Indonesians who own many of the top hotels in Bali and other parts of Indonesia. At the very least, you could get some insight into how to do things and perhaps find a serious potential partner. I know at one time he was interested to start a restaurant but no idea what happened to that idea.

For any reader.
Plenty of people try to get around the rules for investment in Bali, but it's always a very bad idea.
The logic is simple.

Once you get around the rules, and plenty do, your legal standing is zero.
That means the partner can cut you out, leaving you with absolutly no hope of recovering your investment
It also leaves you with a dodgy immigration status, thus you can get kicked out of Indonesia with the same financial hit

Readers - Stick to the rules because there are plenty of con artists out there who won't so much as blink before they rip you off for the lot, and there's no legal path to getting your cash back

As for getting into business bed with a total stranger - I won't even bother to comment.

-@Fred

As for getting into business bed with a total stranger - I won't even bother to comment.

A succinct realty check Fred. It's like getting into bed with a hooker but not knowing she's a hooker

@Lotus Eater:

I kind of agree with you, but then again, getting into business with someone you know can be equally as risky. I went into business with some friends who I'd known for many years and who had their own established company and that was a mistake, but I was able to leave at the first sign of trouble and start my own company. It's also pretty much accepted that it's risky to go into business with family or friends because you'll probably end up disagreeing over something. Being the sole boss is always preferable.

But for setting up a business in Indonesia, I don't think the OP has too much choice. The problem is finding a reliable partner. Lots of people do exactly this and with success despite those who think only negatively and say don't do it. I tihnk it's about getting in touch with people in the right circle, and obviously he is not going to find that kind of people on a site like this. He needs to meet people in person.

But for setting up a business in Indonesia, I don't think the OP has too much choice. The problem is finding a reliable partner. Lots of people do exactly this and with success despite those who think only negatively and say don't do it. I tihnk it's about getting in touch with people in the right circle, and obviously he is not going to find that kind of people on a site like this. He needs to meet people in person.

-@wyngrove60

Plenty of other problems:

• Visa type
• Lower than required assets
• Not being aware of the requirements to set up a PT PMA
• Not knowing anyone
• No clear plan
• Little or no knowledge of the local bisiness environment

From the above list, I only see the required assets as important at this early stage, and since the OP has mentioned 200k, then 500k euros, well we do not know what he might actually be willing to invest. A good lawyer in Bali from a reputable firm will let him know what his requirements and options are.

My advice to the OP is to meet with a lawyer, meet potential partners, meet people in the industry when you next visit Bali. Don't be put off by negative comments in this forum. And always beware of scammers, both local and foreign.

@wyngrove60

thank you very much

He hasn't got the cash

Unless he comes up with a bigger number, forget it.

The law is designed to stop people doing what he wants. It's intended to protect locals, but also protects investors from losing their shirts.

@ Fred

We do not know how much he is actually willing to invest. He mentioned 200k at first, then increased to 500k euros. Nobody invests all their money into one business so I think it's very likely he has more. For a PT PMA the investment is Rp10 billion (approx. 600k euros) to be invested over three years, not all at once. There may be exceptions to this, and other ways of doing it that benefits him even more, but since neither you nor I are business lawyers then he'd get better information from seeing a specialist rather than getting anything other than very basic advice from either of us.

Yes he is throwing out suggestions, but it seems to me he is just feeling his way to see what is possible and what isn't. That's fine because only when he meets a lawyer in Bali and meets potential partners or advisers will he know which is the best way to do things.

Anyway, I'm not going to waste any more of my energy discussing with you.

Fred can you kindly delete all my posts in this thread.