In establishing a Limited Liability Company (the “Company”), the Company shall have deed of establishment to obtain the status of legal entity from the Minister of Law and Human Rights (“Minister”).
Overview of Deed of Establishment
According to article 7 of Law Number 40 of 2007 on Limited Liability Company (“Company Law”), the deed of establishment of the Company shall be prepared in Indonesian language. Furthermore, the deed of establishment must contain the articles of association and other information in relation to the establishment of the Company. This is in accordance with Article 8 of Company Law. In this opportunity, we will only discuss about the other information that shall be contained in the deed of establishment. Other information related to the establishment of the Company that must be contained in the deed of establishment is at least as follows:
(i) Identity of the founders of the Company
In case the founders are individuals, they shall provide their full names, places and dates of birth, occupation, residence and nationality. In case the founders are in form of a Company, they shall provide name, domicile, full address and number and date of the Minister of Law decree regarding the ratification of legal entity of the related Company.
(ii) The composition of the Board of Directors (BOD) and of the Board of Commissioners (BOC) of the Company
The Board of Directors members and the Board of Commissioners members of the Company shall be provided in the deed of establishment of their full names, places and dates of birth, employments, residences, nationalities.
(iii) The identity of the shareholders of the Company
The shareholders of the Company shall be provided in the deed of establishment of their names, details of number of shares, nominal value of shares.