Things You Need to Know About Free Indonesia Company Name Check
Before a company name of a limited liability company may be used in Indonesia, for both a foreign investment company (PT PMA) and a local company (PT), the founders must obtain approval from the Minister of Law and Human Rights of Indonesia (MOLHR). Without the approval of the company name, the founders cannot begin the company establishment process. In Indonesia, the usage of a company name is subject to such limitations which are governed under Indonesian Law No. 40 of 2007 (Company Law) and its accompanying regulations. 3E Accounting offers Free Indonesia Company Name Check, try it out today.
Why is the Name of a Company Important for Its Business Functions?
Choosing the correct name for the business is absolutely important. The company name plays an increasingly important role in a given company’s success and market image. The corporate name selection is a move that may determine a business’s fortunes in the long run.
Some businesses are able to choose a name that generates the company’s continuous growth; others also used their name’s influence to ensure that their logo is recognized all around the world. Interestingly, there are many companies that have names that do not appropriately reflect the business brand.
Consequently, the business may fail and never attain the amount of success it should have attained with a more fitting name. There are many reasons that a company’s name is absolutely vital and important.
A company’s eventual success is often dictated by first impressions. By having a strong mark from the beginning, it would fit a company well in terms of productivity and growth. Consumers generally remember a company by its identity. Thus, the name has to send the right message to win over customers. Indirectly, company names say a ton about the entities’ owners who operate the businesses. The name of the company must be in accordance with the purpose or line of business of the company. And the right name for a company leaves an outstanding mark on those who see it. While a well-chosen name may end up being the guiding force behind creating a strong and productive relationship between a company and its customers, a poorly picked one may preclude these relationships from ever taking root.
Selection of a Company Name in Indonesia
In Indonesia, the method of choosing a name for a business is one that involves several distinct yet essential steps with conditions and standards that must be fulfilled before a name can be placed into usage.
For the application fee, you need to buy a voucher on the Direktorat Jenderal Administrasi Hukum Umum website. A government fee of 100,000 rupiahs per submission.
The voucher for the company name application is non-refundable and is valid for a duration of 60 days from the date of payment or until the company name is approved. The founder will be required to make a declaration as to the proposed company name required for the business venture.
Upon the approval of the company name, the next move is to bring the name to effect. By doing this, the company’s founder must obey Section 5 of Government Regulation No. 43 of 2011 covering the registration and usage of a corporate name by a limited liability company. The article notes that the new business name must satisfy such conditions before it can obtain official approval from the government. The name of the business will be able to be read in Roman characters. The name cannot be the same or almost the same as another registered business name which another company in Indonesia is currently in legal use. It must not infringe universal principles of honesty and morals, either. The company name cannot be the same or identical to the term of any State institutions, policy agencies, or foreign bodies. It also cannot comprise entirely of numbers; it must be able to be read and pronounced, too. The name does not include official words involving corporations, legal bodies or civil union. An Indonesian company’s full name does not comprise exclusively of the primary purpose of the business, its operations, or both. If the purpose of the company or business operations is a part of the name of the company, all references to the intent or business practices shall be in keeping with the specific commercial purposes and business activities of the company.
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3E Accounting can help you to conduct a free Indonesia company name check.