Procedure of company registration
The most popular type of Indonesian Company is a Limited Liability Company. The procedure for company formation is as follows:
- Provide scanned copy of a passport for directors and shareholders;
- Provide scanned copy of proof of residence. This can be in the form of a utility bill, bank statement or bank reference and must not be older than 6 months;
- Complete Eltoma’s Company Formation Application form;
- Complete Etloma’s Declaration of Beneficial Owners form;
- Eltoma will review the above and then provide a client summary that must be confirmed by signature of the client and Eltoma for agreed service to be provided;
- At this point Eltoma will issue an invoice for an Indonesian Company Formation;
- Upon receipt of money in our bank account we will start the formation process by submitting a preferred name for approval of Indonesian Registrar of Companies. This takes up to 5 working days;
- Once the Indonesian Company name is approved, a shareholder of a Indonesian Company signs a power of attorney and sends the originals to Eltoma by courier.
Upon receipt of the signed power of attorney, we start the Indonesian Company Formation process. It takes up to 2 months for an Indonesian Company Formation.
Key amendments to the Singapore Companies Act
Significant changes to the commercial and company law in Singapore have come into effect. The changes to the Singapore Companies Act will hopefully make business entities more transparent as well as mitigating the risks of money laundering and terrorist financing.
Panama Law 52: Updated legislation for all legal entities
Last month the Government in Panama officially approved Law Number 52; legislation which creates the regulatory framework for the implementation regarding automatically exchanging tax information, in a further attempt to comply with global regulations for tax transparency, and to be fully in line with all supervisory and compliance matters.
Important 2016 reporting deadlines for BVI Financial Institutions
Officials from the British Virgin Islands have come together to clarify various filing deadlines as per the automatic exchange of information systems in a press release.
Thinking of relocating your business to Singapore? Let us help you!
Singapore has quickly become one of the world's most prosperous countries with strong international trading links and per capita GDP equal to that of the leading nations in Western Europe, making it an ideal destination and potential location for Business Owners to relocate and start a new business and lifestyle.
How to register a branch in Cyprus
Overseas companies may register a branch in Cyprus, according to the Companies Law, Chapter 113, regulated by section 347. A branch will not essentially consider as being a new legal entity in Cyprus.
To Brexit or not to Brexit?
To Brexit or not to Brexit - this has been the question of the year for Britain and with the referendum taking place imminently, just two options remain: leave the EU or stay in. Why has this been such a difficult decision to decide upon?
Selecting a Management Information System
A management information system or MIS is used to assist in the analyses and formulation of business strategy, as well as facilitating operational objectives. Selection of an MIS can help increase understanding and control in an organisation and can be scaled to suit the complexity of most modern businesses. If the right MIS is selected and it is implemented correctly it can provide a competitive advantage for the organisations utilising it.
Windows 10 update: having issues with the installation?
By now you have probably about Windows 10, the latest operating system developed by Microsoft.