Business Articles of Association are essential founding documents required for establishing and operating a company in Indonesia. This document must comply with Law No. 40 of 2007 on Limited Liability Companies and related regulations, setting forth the fundamental rules and regulations that govern the company's operations. It is required during company incorporation and contains crucial information about the company's identity, purpose, capital structure, management framework, and shareholder rights. The document must be drafted in Indonesian language and executed before an Indonesian notary public, requiring subsequent approval from the Ministry of Law and Human Rights. It serves as the primary reference for corporate governance and is frequently referred to during corporate actions, dispute resolution, or when making fundamental changes to the company structure.
Business Articles Of Association for Indonesia
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Key Requirements PROMPT example:
Business Articles Of Association
"I need Business Articles of Association for a technology startup in Jakarta with three local founders and potential foreign investment planned for March 2025, including provisions for virtual board meetings and special protections for minority shareholders."
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1. Company Identity: Name and domicile of the company, including complete address of the head office
2. Purpose and Objectives: Company's business activities and goals in accordance with Indonesian Standard Industrial Classification (KBLI)
3. Duration: Period of establishment of the company (whether limited or unlimited)
4. Capital Structure: Details of authorized capital, issued capital, and paid-up capital, including number and classification of shares
5. Share Provisions: Rights and obligations attached to shares, including voting rights and dividend rights
6. Board of Directors: Appointment, dismissal, duties, authorities, and responsibilities of Directors
7. Board of Commissioners: Appointment, dismissal, duties, authorities, and responsibilities of Commissioners
8. General Meeting of Shareholders: Procedures for conducting GMS, voting mechanisms, and quorum requirements
9. Financial Year and Annual Reports: Provisions regarding fiscal year, annual reports, and profit distribution
10. Dissolution and Liquidation: Procedures and conditions for company dissolution and liquidation