The official date of commencement o

The official date of commencement of commercial
operations is triggered by the issuance of a Permanent
Business License (IUT). An IUT is active as long as a
company is still operating. Prior to commencement of
commercial production, a Quarterly Activity Report must be
submitted in standard format to BKPM and Bank Indonesia
detailing, among other things, disbursements of foreign
currency financing approved in the BKPM application. Biannual
reports are required after the IUT is issued.
An important aspect of the investment application process
is the compilation and approval of BKPM Master Lists,
which detail the imported capital equipment and initial raw
materials required, as inputs to the proposed investment.
The imported items must be verified as suitable and relevant
for the proposed project. Only items on the approved
Master Lists are available for import duty relief and other
concessions that will be documented in Exemption
Certificates on imported equipment or materials.