Grow Your Business in Indonesia

Grow your business in Indonesia
Market Entry Indonesia
Image by Sulthan Auliya on Unsplash.

Ralph Waldo Emerson is credited with saying that “once you make a decision, the universe conspires to make it happen.” That certainly appears to be true for us at Seven Stones Indonesia because in 2020 we decided to adapt our real estate business when we realised our clients needed more than just a villa or a plot of land to build a dream home; they also needed honest, relevant and practical advice on how to make their investments work for them.

We diversified and developed systems and structures around Investment Roadmaps. In early 2020 these were focused on providing basic legal advice but word quickly spread and we grew to offer Market Entry packages including company establishment as well as visa assistance. We didn’t stop there and by the end of the year added a range of affordable marketing/ branding services. And in Q2 of 2021 we introduced accounting and tax assistance to deliver a more complete suite of relevant business support.

We spend quite a lot of time looking at, and trying to improve, our customer experience and its ‘moments of truth.’ It’s an important part of our company ethos of ‘doing good, then doing well’ and its foundations are built on authenticity.

That’s why Seven Stones Indonesia will be teaming up with Nordic House to create a Seven Stones Nordic House brand in Jakarta. We’ll be following the principles of The Nordic Way to offer value driven support and affordable market entry business services – including business representation – for both start-ups and corporations as well as networking events and PR activities designed to assist Nordic/ European business entities interested in the Indonesian market.

The Nordic Way

The Nordic Way is a solid and transparent principle for managing actions and business with honesty and integrity and respects the legitimate interests of individuals, organizations, groups and societies by trusting in consensus to stimulate discussions and decision-making in a harmonious and flexible way.

We believe this ethos not only values, but also respects Indonesia’s legal structure, culture, land and amazing diversity and will allow us to create a melting pot of like-minded business interests to connect a wide range of international and local companies and be the source for real and trustworthy information from and for the Indonesian marketplace.

Norway Connect

With this in mind, we recently signed a cooperation agreement with Norway Connect, a business advisory network mainly assisting Norwegian companies with market entry services in Southeast Asia. Norway Connect made the announcement on their website (read the press release here) and explained how they have been offering market entry services in Thailand, Myanmar and Malaysia for over ten-years, representing a number of Norwegian brands in Southeast Asia and working closely with Norwegian Chambers of Commerce in the region as well as Norwegian diplomatic missions.

Indonesia’s economic potential

Not long ago we published an article in Indonesia Expat, one of the most popular publications (both print and digital) for businesses in Indonesia, about why we think having a reputable representation in Jakarta makes so much sense if you’re looking at doing business in Indonesia.

We explained that “as Indonesia’s centre of commerce, entertainment and culture, we all agree Jakarta is where we need to be. According to The World Bank almost 30 million people live in the greater Jakarta Metropolitan area (Jabodetabek) and the World Economic Forum suggests that by 2035, Jakarta will push Tokyo into second place to become the world’s most populous city. Many observers, like Wellington Capital Advisory, are predicting Indonesia is on track to become the world’s 4th largest economy by 2035 with a GDP eclipsing that of established global powerhouses such as Japan, Germany and the UK.”

The bottom line is that Indonesia’s political stability and economic potential are very real. This was clear with the recent signing of a Comprehensive Economic Partnership Agreement (IE-CEPA) between Indonesia and Norway, Iceland, Liechtenstein and Switzerland, the four countries that make up the European Free Trade Association (EFTA), with the intention of opening Indonesia to new markets and investors.

The impact of the Omnibus Bill

Opportunities across many industries and on many levels have been largely untapped for a variety of reasons. Reels of red-tape for visas and business licensing as well as often conflicting rules and outdated regulations have clearly undermined both domestic and foreign investment confidence, and that in turn has had a negative impact on the ease of doing business.

But that has changed with the recent passing of the Omnibus Bill. Many of these rules and regulations have been or are about to be lifted, revised and streamlined. Perhaps the most significant aspect, especially for foreigners planning to invest in Indonesia, revolves around taxes.

Finance Minister, Sri Mulyani, who was the first female Managing Director of the World Bank from 2010 to 2016, is on record as saying the government’s planned tax reforms would include relaxing income tax for expatriates, eliminate dividend tax, reduce corporate income tax, and introduce a new digital economy tax.

Reports would suggest the government is looking to change Indonesia’s tax regime into a territorial system. The primary benefit of this would be that both expatriates in Indonesia and Indonesian’s abroad would no longer be taxed on income earned outside of Indonesia’s borders.

This is all good news if you’re looking to invest in Indonesia, but how can you realistically and practically do that?

Seven Stones Nordic House

The answer is simple – work with Seven Stones and Nordic House in Jakarta! We’ll be running an exclusive Member Only venue with rooftop bars, restaurants with a central kitchen, meeting facilities and ballrooms as well as options for co-sharing office spaces.

We’re looking at attracting business owners and C-Suite Executives, government departments and agencies, embassies, associations and Chambers of Commerce and Indonesian entrepreneurs as well as ethical, social and community focused business initiatives and profitable groups who provide genuine benefits across Indonesia’s diverse business landscape.

We will support domestic and international partners looking to do business in Indonesia and connect with financial institutions who are best able to support and enhance our mission and vision.

We’re offering a professionally managed workplace in the heart of the city’s Central Business District to support your business with:

  • Logistics
  • Secretarial Services
  • Concierge Services
  • Market Entry
  • Investors/ Investment Opportunities (property/ packages/ tours/ products etc.)

If you’d like us to help your business grow and take advantage of what we’re developing with Nordic House in Jakarta, we’d love to hear from you. Send an email to hello@sevenstonesindonesia.com and let’s chat about being your partners in growth.

 

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Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

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Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.