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What is a Foundation?
A foundation is a legal entity that has social, religious and humanitarian purposes, and is established by fulfilling the formal requirements specified by law.
Why Cooperatives?
Established for the Common Good
Cooperatives are not solely for profit, but work together to improve the welfare of members.
Prioritizing Members' Interests
The advantage of cooperatives over other business entities is that they prioritize the interests of members. This means that the main focus of this business entity is the interests of members, and not individuals. Because without members, the cooperative will not run.
Open and Voluntary Management
Anyone can become a cooperative member, regardless of social status, education, or other backgrounds. Voluntary means that someone joins the cooperative not because they are forced to, but because they want to.
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FAQs About Establishing Foundations, Cooperatives, and More
What are the Legality Documents Needed for the Foundation?
- Foundation Establishment Deed
- Foundation Articles of Association
- Foundation NPWP
- Foundation Domicile
- Foundation Registration Certificate
How Much Capital to Establish a Foundation?
The initial wealth that must be prepared based on Article 6 paragraph (1) of the Foundation Law is at least IDR 10 million.
What are the Requirements for Establishing a Foundation?
- The foundation is established by one or more people by separating part of the founder’s wealth as initial wealth.
- The establishment of the Foundation is carried out by notarial deed and made in Indonesian.
- The foundation can be established based on a will
- The cost of making a notarial deed is determined by Government Regulation.
- In the event that the Foundation is established by foreigners or jointly with foreigners, regarding the requirements and procedures for the establishment of the Foundation are regulated by Government Regulation.
Where does cooperative capital come from?
The source of capital for cooperative establishment is in the form of cooperative principal savings, mandatory savings, reserve funds, and grants. In addition, capital can also come from loans.
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