The CV form of company or Commander Partnership in Indonesia is quite popular among business actors in Indonesia. Apart from being easy to establish, the capital to establish a CV is relatively cheap for business actors. However, to establish a CV company and develop it, it requires capital that is not only material. But also the ability and willingness of the founders. So, are there regulations that specifically regulate the capital structure when establishing a CV? To find out, check out the following review.
CV at a glance
Before discussing more about capital, it is necessary to first understand what is meant by CV. Commanditaire Vennootschap or CV is a form of business entity in the form of a partnership established by two or more people who entrust their funds to manage the company and aim to achieve profit. The legal basis for this CV is regulated in the Commercial Code (KUHD) Articles 19-21 and the Civil Code (KUHPerdata). To run it, there are the roles of two parties, namely active allies and passive allies. Active allies are the managers of the company. They are responsible for running the company and have the right to determine company policies, including cooperating with third parties. Passive allies, on the other hand, are those who invest capital into the CV and their responsibilities are limited to that capital.
Terms and Procedures for Establishing a CV
The requirements in establishing a CV are quite easy, namely:
- It is established by at least two people, who are then referred to as active allies and passive allies.
- Have a notarial deed in Indonesian.
- All or 100 percent ownership of the company can only be owned by Indonesian citizens, without foreign investors.
These three things are absolute requirements in establishing a CV. In addition, business actors must also prepare several documents required for CV establishment, namely:
- ID cards of active allies and passive allies
- NPWP of the person in charge of the company
- certificate/statement of domicile stamped
- Indonesian Standard Business Field Classification (KBLI) statement letter with stamp duty
- Company phone number and email
- If the company is authorized, it must include a power of attorney and stamped minutes along with the company’s letterhead.
Once the above requirements have been met, business owners must apply for a CV name through the Business Entity Administration System (SABU). Later, approval will be given by the MOLHR electronically, which includes information such as order number, CV name that can be used, order date, expiration date, and payment code. The next step is to register the CV by filling in the registration format and completing it with supporting documents, in the form of an electronic statement from the applicant. Afterward, the CV registration document will be kept by the notary. Once everything has been processed, the MOLHR will issue a CV Certificate of Registration (SKT) upon receipt of the application, which is delivered to the applicant electronically.
So, what are the rules for CV capital?
As explained earlier, there is a difference in responsibility between active and passive allies in a CV. Active allies are responsible for running the CV up to their personal assets, while passive allies are only responsible to the extent of their paid-up capital. The amount of capital in establishing a CV is not regulated in the laws and regulations. Therefore, there is no minimum amount of capital that must be deposited to establish a CV. Even in the deed of establishment, the amount of capital deposited by each ally is not stated, let alone the minimum amount:
- Identity of the founder (founder’s name, domicile, and occupation);
- Business activities;
- The rights and obligations of the founders; and
- Term of CV.
As such, the amount of capital required to establish a CV is entirely based on the agreement of the founders.
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However, it should be underlined that business actors must first obtain information on the amount of capital required to run their business activities. This is because some business fields have certain requirements regarding the minimum amount of capital that must be met to obtain a business license.
KH Contact
That is the explanation of CV capital and the requirements and procedures for establishing it. The amount of authorized capital and paid-up capital of a CV is determined and recorded independently and separately by the founder. If the company has a profit, it will later become a capital increase. Not surprisingly, this is one of the reasons why many business people choose to establish a CV instead of a Limited Liability Company (PT) because the process is easier and the cost is cheaper. Well, if you need help setting up a CV, you can contact Kontrak Hukum. Together with professional experts, KH Pals can consult about establishing a CV including capital, procedures, and required legality documents such as deeds, SK, NIB, NPWP, and OSS. No need to worry, because CV services at Kontrak Hukum are guaranteed to be affordable, easy, and fast in just a matter of hours! For booking information, please visit the KH – CV Services page. If you have questions about business entities or other business needs, you can also consult with us at Ask KH or via direct message (DM) to Instagram @kontrakhukum.
