DUE DILIGENCE ON LAND TRANSACTIONS
If you are considering leasing or buying land in Indonesia, the TraceWorthy Consulting team will check all relevant documents to ensure you are fully informed before making any commitment.
The document check includes:
- land certificate(s)
- land and building tax
- informasi tata ruang / spatial information
For optimum due diligence, TraceWorthy Consulting will also check:
- the land and the certificate(s) match what you have looked at
- the seller credentials to ensure you are dealing with the right person
- land zoning so you can construct on the land, if required
- encumberment
You will receive a comprehensive Land Due Diligence report you can rely on.
SHORT- AND LONG-TERM LEASES
After completing due diligence on the land you would like to lease, you will need to come to an agreement with the landholder and formalise that into an appropriate lease. Note though, there are many types of lease agreements depending on the type of land ownership.
Lease agreements in Indonesia tend not to concern themselves with the expectations and requirements of foreign nationals. TraceWorthy Consulting drafts both short- and long-term leases that protect both the lessor and the lessee, ensuring equity in all dealings to establish a trusting relationship going forward.
TraceWorthy Consulting will prepare the lease agreement, liaise with a reputable notary and manuscript the lease agreement into a waarmeked document or a notarial deed. Ask about whether you can have your documents in both English and Indonesian language
If the lease period is for a long period (more than 10 years),
clients are advised to convert the lease agreement into a notarial deed.
If the lease period is less than 10 years, waarmeking the document is sufficient.
LAND SALE AND PURCHASE AGREEMENTS
As is the case with most countries, there are laws and regulations that govern foreign investment in land in Indonesia. TraceWorthy Consulting recommends seeking advice on whether you are can lawfully purchase land. The right advice will save you from the common pitfalls that leave many a foreigner substantially out of pocket.
The next step is investing in thorough due diligence on the land you are interested in before making any commitment or handing over any money.
When you are ready, TraceWorthy Consulting will prepare the relevant documents, including binding sale and purchase agreements, to protect your interests. Processing the sale and purchase agreements will be performed through a reputable notary for absolute peace of mind. Ask about whether you can have your documents in both English and Indonesian language.
DUE DILIGENCE ON CORPORATE DOCUMENTS
If you are considering buying a business or entering into a business partnership or joint venture in Indonesia, the TraceWorthy Consulting team will check all relevant documents to ensure you are fully informed before making any commitment.
The document check includes:
- company registration
- company licenses
- taxation compliance
- labour law compliance
- foreign investment reporting, if relevant
For optimum due diligence, TraceWorthy Consulting will also check:
- shareholding
- executive membership
- legitimacy of financial reports and accounting methodology
You will receive a comprehensive Corporate Due Diligence report you can rely on.
REGISTER AND LICENSE A NEW COMPANY
TraceWorthy Consulting will work with you to develop a business plan and associated pre-start documents from client concept. With a complete understanding of what you want to achieve, application is made to register and license a 100% foreign-owned company in Indonesia.
As well as supporting you to frame your business, you can even talk with the Team about how to lease a virtual office or a commercial premises to carry it out.
To assist you to live and work in Indonesia, TraceWorthy Consulting will also prepare and lodge all relevant legal documents to have Indonesian stay and work permits issued for you and your family, if required. TraceWorthy Consulting does what no other agency can do – support the first year of business development with advice on strategic alliances, creating loyal supply chains, leveraging human capital, navigating Indonesian bureaucracy, building systems and structures, maintaining financial security, legal compliance, etc.
AMEND CORPORATE STRUCTURE
There are many reasons why a corporate structure may need to be changed, including:
- a change of company domicile
- a change of direction that requires new licenses
- a change of shareholder(s) or the issuance of new shares
- an increase in authorised, subscribed or paid-up capital
- new ownership, a merger or joint venture
- the resignation or appointment of a new executive member
The process to change a corporate structure is governed by a myriad of Indonesian laws and regulations. TraceWorthy Consulting will help you navigate these by convening an Extraordinary General Meeting of Shareholders, minuting the meeting, and preparing the decision statements and resolution(s) of shareholders.
TraceWorthy Consulting will also attend and liaise with a reputable notary to manuscript the outcome into a notarial deed, and report to and / or obtain approval from the Ministry of Law and Human Rights.
AMEND OR OBTAIN COMPANY LICENSES
The Central Government of Indonesia has recently made changes to the licensing classifications for both domestic- and foreign-owned companies, loosening regulations that restrict foreign ownership in some industry sectors and re-classifying some licensing categories. New and existing companies must comply with these changes.
If you have a sole tradership, a small business or a limited liability company that was established prior to July 2018, your licenses may have expired. Contact the team at TraceWorthy Consulting to remedy this for you.
TraceWorthy Consulting can both obtain and adjust business licenses through the government Online Single Submission (OSS) portal. Book an appointment with the Legal Team to discuss the most appropriate licensing system for your business. Remember, a great consultant will provide you with a system that is fit-for-purpose and compliant, not necessarily whatever was done for the last client.
REVIEW DRAFT AGREEMENTS
If you have a contract or agreement that has been drafted by you or someone else, you can bring it to TraceWorthy Consulting for review and advice. The Legal Team will check it for compliance with Indonesian laws and regulations, as well as perform a fit-for-purpose test.
The advice document will give you a summary of:
- your rights and responsibilities
- any risks that are present
- the key points of law
- any compliance failures
- anything missing that could protect you
- tips on negotiating a better position, if appropriate
If you have any concern about your power in negotiations with any party to your agreement, let TraceWorthy Consulting know. One of the Team can accompany you to meetings and act on your behalf to ensure you are looked after.
DRAFT NEW AGREEMENTS
The TraceWorthy Consulting Legal Team is expert at drafting various agreements to international standards, including:
- Distributor or Supply Agreements
- Employment Agreements
- Joint Venture Agreements
- Land Lease Agreements
- Management and Cooperation Agreements
- Non-Disclosure, Confidentiality and Non-Circumvention Agreements
- Partnership Agreements
- Sale of Business Agreements
- Shareholder Agreements
TraceWorthy Consulting will also attend any meetings, witness agreement execution, attend and liaise with a reputable notary to manuscript the outcome into a notarial deed (if required), and report to and / or obtain approval from the Ministry of Law and Human Rights (if required).
