What IS SIUP? Here Are The Benefits For Companies And Approval Requirements

Illustration of SIUP company (Unsplash/Sebastian Hermann)

YOGYAKARTA - Legal licensing or legality is a document that must be managed by every businessman on an individual scale, Micro, Small and Medium Enterprises (MSMEs), to large companies. This document is needed so that businesses are easier to innovate and develop, and avoid bad risks that can harm the company.

A Trading Business License (SIUP) is one of the documents that must be owned by a company or legal entity engaged in the sale of goods/services. By owning SIUP, business people can improve their company's profile and improve their business performance.

WHAT IS SIUP

SIUP is a Trade Business License for a company or a business. SIUP is also referred to as a legal business operating license. SIUP ownership is proof that a business is legal and legal. SIUP was issued by the Industry and Trade Office according to the domicile of the listed company.

Based on the Regulation of the Minister of Trade of the Republic of Indonesia No. 46/2009, SIUP is needed for companies with a net worth of more than IDR 50 million. This amount does not include land and business premises.

However, companies with a net worth of less than IDR 50 million can also apply for SIUP if the economic operator wants it. In addition, companies that apply for SIUP must meet several requirements to get a loan.

SIUP must be owned by companies with categories or criteria as mentioned above. In addition, the government also regulates the exemption of obligations to have SIUP.

Based on Article 4 paragraph (1) letter c, Regulation of the Minister of Trade No.46/M-DaAG/PER/2009, exemption from SIUP ownership to the following business groups:

SIUP provides several benefits to entrepreneurs. Here are the benefits of businesses that have SIUP.

There are administrative requirements that must be completed by the company when applying for a Trade Business License. Each type of business has different requirements. Here are some requirements for submitting SIUP.

That is an explanation of the company's SIUP and the requirements needed to apply for SIUP. Each type of company requires different requirements. So make sure the documents you prepare are in accordance with your type of company.

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