Individual foreigner or foreigner along with local Indonesian and/or foreign legal entity can establish a foundation under Indonesian Law. This is regulated under law number 16/2001 as amended by law number 28/2004. it’s also governed in the government regulation number 63/2008.
Requirement needed for the establishment of foundation by foreigner are as follow:
- The foreign founders should separated their wealthy at least in the amount of IDR 100.000.000,- as an initial foundation’s wealthy
- Stating that said wealthy comes from legal wealthy
- Stating that the activities of the foundation will not hampering society and the state of the Republic of Indonesia
- one of the Executive Board should be hold by Indonesian
- The Executive member must have a legal domicile in Indonesia
- The foreign Executive member should hold any of permit of conducting activities in Indonesia and hold Limited Stay Permit.
- The member of advisory board and supervisory board, if they have legal domicile in Indonesia, must hold a permit or license to carry out activities or business in Indonesia and hold Limited Stay permit.
The process of the establishment is as the same as the establishment for local people. Please see here for further detail.