Indonesia has made a real progress in terms of economy in the last few years thanks to the legislation which was adapted to the recommendations of international organizations. One of the latest developments is related to the enabling of a legislation related to cryptocurrencies.
Foreign investors can now open cryptocurrency companies in Indonesia, as the Central Bank has issued a statement through which virtual currencies will be recognized in this country. Our Indonesia company incorporation consultants can help foreign entrepreneurs who want to start cryptocurrency businesses.
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Registering a cryptocurrency business in Indonesia
The Company Law provides for specific requirements for opening a company in Indonesia as a foreign investor. This also applies when setting up cryptocurrency companies here. Foreigners who want to start cryptocurrency companies must:
- apply for a residence permit if they want to move to Indonesia and run their companies from here;
- draft and submit an investment plan with the Indonesia Investment Coordinating Board;
- register a foreign-owned company with the Companies Register in Indonesia;
- apply for specific licenses with the Financial Authority if the company will be set up as a financial business.
Our local advisors can guide investors through the company registration procedure of the Indonesian cryptocurrency business. You can register the company as a foreign national.
Our team also assists foreign nationals who wish to immigrate to Indonesia for the purpose of starting their company, as well as relocating here to manage its activities. Remaining in the country means that the foreign national will need to have a valid stay permit at all times, which will also be renewed as needed. Our team can give you complete details about the types of visas and the immigration policy.
Cryptocurrency activities to be permitted in Indonesia
Those who plan on opening in the cryptocurrency industry in Indonesia will be allowed to complete activities such as digital token mining, the creation of digital wallets and the opening of cryptocurrency exchange platforms.
The Futures Exchange Supervisory Board will supervise the activities of cryptocurrency companies in Indonesia and will be in charge of overseeing that they will respect the laws imposed by the government.
The legislation to be implemented soon also provides for the taxation of cryptocurrencies as commodities.
Company owners who require legal assistance for their cryptocurrency company can reach out to our Indonesian lawyers. We are a full-service law firm with expertise in many areas of interested, including but not limited to corporate law, employment and tax law, debt collection, intellectual property matters, and business formation. We also provide assistance during litigation.
Foreign investors interested in opening cryptocurrency companies in Indonesia are invited to contact our local company incorporation agents for more information on the legislation in the fintech sector. Please contact us if you need help in registering your cryptocurrency company in Indonesia or if you need other services, such as those related to the process needed to immigrate to Indonesia.