Digitalising Business With Online Single Submission
The Online Single Submission (OSS) system is revolutionizing the way business is done in Indonesia. 3E Accounting gives you the details.
Indonesia’s Online Single Submission (OSS) is a newly minted licensing application system created with the idea of streamlining business applications. As of 2018, OSS had replaced the previous One-Stop Services system which was not conducive or encouraging to investors.
The Ministry for Economic Affairs initially supervised OSS. Since its upgrade in 2019, it is now managed by the Capital Investment Coordinating Board (Badan Koordinasi Penanaman Modal) (BKPM). The new, fully electronic system will ease the way companies do business in Indonesia.
Ushering in the Digital Business World
All companies in Indonesia are required to be registered with the Trade Register or Company Registry in Indonesia. In compliance with the law, companies can have:
- Local Limited Liability Company (Perseroan Terbatas or PT).
- Limited Liability Company (Perseroan Terbatas Penanaman Modal Asing or PT PMA).
- Civil Partnerships.
- Limited Partnerships (Comanditer Venootshcap or CVs).
The OSS is an online platform that facilitates the licensing of these entities. The process used to take anywhere from a few days to a few weeks – with the OSS system, you can be done in a few hours. It perfectly reflects the Indonesian government’s commitment to improving all facets of the business arena.
The OSS system is electronically integrated and fully synchronized with all of Indonesia’s governing agencies and departments to mitigate bureaucratic delays. It accommodates all business models and users, including individuals and non-individual entities.
Businesses that can use the OSS system include:
- Any organization, enterprise or individual.
- Any existing or new business.
- Businesses with both domestic and foreign capital.
- Micro, small, medium and large businesses.
Once you have a Deed of Establishment from the Registry, you can register on the OSS system. To do so, you will need to enter the Single Identity Number (NIK) of one of the company’s directors. You will then be sent a confirmation email with a User ID and password.
Upon successful registration, the OSS system will provide a business identification number or Nomor Induk Berusaha. (NIB). The Nib Acts as:
- The Certificate of Company Registration.
- The company’s an import and custom’s identification number.
- Business license.
- Automatic registration with the Health and Social Security System.
- Proof of your company’s legitimacy.
- Proof of government sanction of your business.
The OSS system provides licensing in these key stages:
- Data legality (for both business entities and legal entities).
- NIB, business licenses.
- Operational or commercial licenses.
It also facilitates renewals and other license applications such as:
- Commercial licenses.
- Personal or company tax ID (NPWP).
- Foreign employment plans permit (RPTKA).
Once successfully processed, the company will then be issued a license to conduct its business legally.
Working With the Best
While Indonesia’s Online Submission System is geared towards streamlining business registration, it does take some know-how to get things done right. 3E Accounting has the professional expertise to ensure a smooth experience throughout the entire process.
Contact 3E Accounting today to venture into the digital business arena with confidence and professionalism.