What is the meaning of IUT
- August 7, 2015
- Posted by: Elsye Yaw
- Category: Blog, News
IUT is short for Izin Usaha Tetap, commonly referred to as Permanent Business License. IUT is the necessary document in order for a PT PMA to start doing business. It is issued by BKPM and is applicable to every PT that wishes to do business in Indonesia.
With the possession of IUT, a business can start hiring foreign worker and issue work permits for director and commissioner. IUT is also one of the necessary documents for KITAS.
Possession of IUT is also mandatory for getting other business licenses that needs separate licenses other than the IUT.
In order to obtain IUT, there are several requirements that have to be met. The requirements are as follow:
- Proof of Investment: Financial statement, proof of buying assets, etc
- Having a physical office
- Submit Business Activity Report