Entrepreneurs who are just starting out today have been given the convenience of taking care of legality. One of them is by being able to establish an individual company or often referred to as an Individual PT.

Through the regulation of Law No. 11 of 2020 concerning Job Creation or better known as the Job Creation Law/Omnibus Law, business actors who have a single capital, a limited amount of business capital, and only as individual business actors can establish their own PT through PT Perangan Pribadi.

Individual PTs can be used as business activities on a micro and small scale. Moreover, because PT is a legal entity that clearly separates personal wealth and company wealth.

Still a part of PT, the type of Individual PT has its own advantages that are different from ordinary PT. So that it can be a tip for novice business people to establish an Individual PT.

So, what are the advantages of an Individual PT when compared to an ordinary PT? Check out the full explanation in the following article.

Overview of Individual PT
Based on Article 1 of Government Regulation (PP) No 8 of 2021, an individual company or Individual PT is a Limited Liability Company (PT) which is an individual legal entity that meets the criteria of Micro and Small Enterprises (MSEs).

As an individual legal entity, there is only one shareholder who also acts as the board of directors. If there is more than one shareholder, it is mandatory to change its status to a regular PT.

From this explanation, an individual PT can only be established if the business is included in the MSE criteria. as for the MSE criteria, it has been determined in Article 35 of PP No. 7 of 2021, including the following:

Micro businesses have a business capital of up to a maximum of IDR 1 billion, excluding land and buildings for business premises;
Small businesses have a business capital of more than IDR 1 billion to a maximum of IDR 5 billion, excluding land and buildings for business premises.

Legal Basis of Individual PT
Provisions regarding Individual PTs themselves have been contained in several regulations, including:

• Law No 11 of 2020 on Job Creation
• PP No 8 of 2021 on the Company's Authorised Capital and Registration of Establishment, Amendment, and Dissolution of Companies that fulfil the criteria for MSEs
• PP No 7 of 2021 on the Ease, Protection, and Empowerment of Cooperatives and MSMEs
• Permenkumham No 21 of 2021 concerning Requirements and Procedures for Registration of Establishment, Amendment, and Dissolution of PT Legal Entity

What are the Advantages of an Individual Company?
Individual PTs are often considered more special than regular PTs because they can be established without a notary deed. In addition, the cost of establishment is also cheaper because it can be done by yourself without the help of a notary.

The following is an explanation of the advantages of an Individual PT when compared to a regular PT:

No Minimum Capital Requirement
The amount of capital to be able to establish an Individual PT is only based on the wishes and abilities of the founder after filling out the Statement of Establishment. In other words, the capital to establish a legal entity is free ranging from Rp0 to Rp5 billion.

Just One Founder
If you've been having trouble setting up a PT because you're blocked by a second person who will be the second founder or shareholder, then now there's no need to worry. Because as explained, you can set up an Individual PT alone without the need for a second party.

Flexibility & Full Control
Individual PT provides great flexibility in terms of management and management of the company. As the sole owner, you will have full control over all business operations and decisions.

This means that you can make business decisions quickly and change strategies if necessary without having to consult with shareholders or business partners so that you can immediately fix the business when problems occur in the future.

Ease of Establishment
Setting up an Individual PT is relatively cheap and easy. You don't need to spend extra money to distribute shares or prepare legal documents. The establishment procedure is also relatively simple and can be completed in a short time.

You can register your PT through http://ptp.ahu.go.id and pay the PNBP to complete the registration process. After obtaining the Statement of Establishment of Individual Company, the PT has successfully become an official legal entity.

Bigger Profits
Since you are the sole owner, all business profits do not need to be shared with other shareholders or business partners. You can also determine your own salary and benefits without having to share with business partners.

Establishing an Individual PT can be the best choice for aspiring entrepreneurs who want to start their own business with relatively low costs and simple procedures.

However, before deciding to start a business, make sure to consider your business needs and goals to choose the most suitable form of business entity for your business situation and conditions!

Source : kontrakhukum.com