BWIB Event : The Legalities of Business in Bali
Last Friday, the 23rd of February 2018, Nelly Jacobs, the CEO of Citra Consultants Indonesia was the keynote speaker at the monthly Bali Women in Business event, held at the Genius Cafe Bali in Sanur.
Speaking from her own experience as a lawyer, economist and entrepreneur, she shared advice on her success in Bali and the common pitfalls during the business incorporation process, especially decisions are made before the necessary research and due diligence is done.
Two keywords summarize her business practices when servicing the expatriate community in obtaining their business licenses : LEGALITY and HONESTY. Nelly cautioned that taking simple short cuts can end one’s stay in Bali. Being well advised and taking the time to research on current laws is the key to success in Indonesia, whatever your sector of activity : online business, property or accommodation, this rule can be applied.
Through servicing and assisting expatriates for the past 21 years, Mr. Jacobs understands the difficulties of entrepreneurs striving to make a decent living in Bali, and dedicates herself towards making the laws and procedures straightforward and simple to understand for her clients.
She explains that each business or land acquisition should start with a due diligence survey. Once the list of very important points are verified, then the client can go ahead with the setup or acquisition process.
Many notaries are unfamiliar with expatriate business needs and end up offering partial advice that only applies to Indonesian business owners. For example, a foreign investment company in the business of tourism will need to obtain a TDUP (permanent license) before being able to sponsor foreign work permits. Therefore seeking a second opinion is important.
Following her speech, an interesting question and answer session took place between Mrs. Jacobs and the attendees. Many questions about immigration and corporate regulations were asked, such as which kind of visa an entrepreneur needs when the business is conducting online, without a brick and mortar type setup, or which licenses are abolished in Denpasar, but still needed for the Badung regency.
Mrs. Jacobs advised to brainstorming these questions before starting your business, and seek answers from multiplie sources to get a better view of current business, property and immigration regulations in Bali.
We thank you Genius Cafe Bali, entrepreneur’s cafe, for inviting us to this opportunity to share knowledge and give back to the Bali community.
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