Here are the requirements for establishing a foreign investment company according to BKPM Reg 4/2021:

- A minimum paid-up capital of 10 billion rupiah (US$696,000) to cover operational activities.

- Appointment of two shareholders (these can be foreign individuals or corporations—the percentage of local involvement will depend on foreign ownership limitations based on the Positive Investment List).

- Appointment of at least one commissioner and one director (these positions can be held by foreign individuals), although it is advisable to have one local director for ease of administration.

- The director will be responsible for running the company's daily activities.

The process of establishing a PT PMA includes:

1. Reserving the company name with the Ministry of Law and Human Rights (it must be unique, consist of three words, and can be in English).

2. Determining the KBLI code based on business activities.

3. Establishing a legal entity with the Deed of Establishment, legalized by a local notary and the Ministry of Law and Human Rights.

4. Obtaining a taxpayer identification number and a domicile letter from the local government (not required in Jakarta).

5. Obtaining a tax registration certificate from the local tax office.

6. Applying for a Business Identification Number (NIB) through the OSS system, which also serves as import identification and social registration.

7. Applying for additional business licenses, if necessary, based on the business risk level.