2 Simple Tips You Need on How to Start a Business in Bali!
2 Simple Tips You Need on How to Start a Business in Bali!
Some people go to Bali for an adventure. Some people stay in Bali for work. In other cases, many people see great business opportunities in Bali. However, most eventually get stuck on one question: how to start a business in Bali?
While many answers exist, we are here to share two of the most important aspects of any business. Those two aspects are business plans and, most importantly, legal documents. After all, depending on how the business operates, who is in charge, and what is being sold, you may need different licenses and with different set of rights and responsibilities.
So, if you are wondering how to start a business in Bali, then you are in luck. Here are 2 simple tips you need on how to start a business in Bali!
Tip #1: Know Your Market and Your Resource Needs!
As one of the most famous Indonesian provinces in the world, Bali is ripe with many business opportunities. The Island’s unique diversity of tourist attractions coupled with its great sceneries and culture have become a reason why it is so loved by many travelers around the world. Indonesia Investment Coordinating Board also shares that Bali’s position as a global tourist destination is what makes it strategic for business.
In fact, Bali used to receive millions of tourists annually before the COVID-19 pandemic. And as the pandemic transition into endemic, Bali expects to see a massive rebound in tourism soon.
There has never been a more perfect time for you to build a business in Bali than the present. And if you want to build your business in Bali, you have to do proper market research and solidify your business plan.
Our recommendation is that you build a business centered around hospitality since tourism is one of Bali’s greatest economic strengths. From culinary business and massage/spa business to accommodation businesses like hotels and villas, there are so many businesses that you can build in Bali – whether your business is aimed at foreign or domestic tourists.
Another point you need to note is that every good business requires sufficient investment. Thus, the amount and form of investments you need how to start a business in Bali differ between businesses. Depending on the type and scale of business being developed you may need to invest in either more financial investment, skilled human resources, time, and especially investment in legal business licenses.
Tip #2: Know Which Business Licenses You Need!
Regardless of the kind of business you are building or the market you target, legality will always be important. However, there are many kinds of business licenses in Indonesia. Choosing the right license that works for you best is essential for how to start a business in Bali successfully.
Here are 3 business licenses you can get:
1. Limited Liability Business License
Perseroan Terbatas, or PT for short, is the Indonesian equivalent of a limited liability company. A PT thus acts as a legal entity bound by Indonesian commercial laws.
Depending on the company’s organization and how they conduct their business, there are multiple variants of PT licenses. This is because a specific PT license will impact things like business-to-stakeholder and business-to-government relations.
2. Limited Partnership Business License
Commanditaire Vennootschap, or CV, is an Indonesian equivalent of a limited partnership with at least 2 people. A limited partnership business involves two kinds of partners which are a managing partner and a limited partner.
While the managing partner takes active control over the business operation, a limited partner’s role is mostly passive as the investor.
3. Foreign Investment Business License
Legally referred to as Penanaman Modal Asing (PMA), this business license is aimed at Foreign Owned Companies who wish to establish their business in Indonesia. PMA license thus allows a foreign-owned company in Indonesia to conduct commercial activities under Indonesian Law.
Conclusion: How to Start A Business in Bali? Make It Easy with Trusted Business License Consultant!
As a world-famous tourism destination, Bali is ripe with potential business opportunities – especially those in the hospitality industry. With COVID-19 transitioning into endemic, Bali is also expecting a massive rebound in its tourism sector soon.
Although, you must know 2 important things before starting a business in Bali. First, do proper market research and solidify your business plans as you prepare the necessary resources you may need. Lastly, get a proper business license for the type of business you are developing.
However, what if you already have a business plan in mind, but aren’t confident in what kind of business license you need? Well, worry no more because E-Visa Bali is here as your trusted business solution!
With more than 12 years of experience, E-Visa Bali provides quality services in handling important documents for you and your business in Indonesia. From business licenses, building permission licenses, and tax documents to property legal consulting documents, our professional team helps you manage your legal needs by following Indonesian laws as quickly and conveniently as possible.
Check out our Business License Services and start your consultation with us today to find out the best plans that work for you! Don’t hesitate to contact us too at +(62)8 7788 5000 99 or email us at [email protected] for more information.