公司法、投资与并购
Comparison: Bahasa Indonesia & English
05 Nov 2026, 07:06 WIB
UU No. 40 Tahun 2007 Perseroan Terbatas
Comparison Language:
English
Direct URL:
https://hukum.live/laws/lookup/uu-no-40-tahun-2007-perseroan-terbatas-1/
Parallel Side-by-Side Analysis
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Bahasa Indonesia (Hukum Nasional)
Rujukan Pasal & Analisis Yuridis Resmi
### ANALISIS HUKUM & PASAL TERKAIT (BAHASA INDONESIA)
tentang Perseroan Terbatas ("****"), sebagaimana telah diubah sebagian oleh tentang Penetapan Peraturan Pemerintah Pengganti tentang Cipta Kerja Menjadi Undang-Undang ("****"), merupakan landasan hukum utama bagi pendirian, operasional, tata kelola, dan likuidasi badan hukum perseroan terbatas di Indonesia.
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#### 1. Definisi Statuter dan Karakteristik Badan Hukum
* ** angka 1 jo. :**
Perseroan Terbatas ("**Perseroan**") didefinisikan sebagai:
> *"Badan hukum yang merupakan persekutuan modal, didirikan berdasarkan perjanjian, melakukan kegiatan usaha dengan modal dasar yang seluruhnya terbagi dalam saham atau Badan Hukum perorangan yang memenuhi kriteria Usaha Mikro dan Kecil sebagaimana diatur dalam peraturan perundang-undangan mengenai Usaha Mikro dan Kecil."*
* **Karakteristik Utama:**
* **Tanggung Jawab Terbatas (*Limited Liability*):** Pemegang saham tidak bertanggung jawab secara pribadi atas perikatan yang dibuat atas nama Perseroan dan tidak bertanggung jawab atas kerugian Perseroan melebihi nilai saham yang dimiliki (****).
* **Penerobosan Cadar Perusahaan (*Piercing the Corporate Veil*):** Tanggung jawab terbatas hapus apabila terjadi percampuran harta pribadi dan perseroan, iktikad buruk/penipuan, atau eksploitasi perseroan untuk kepentingan pribadi (****).
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#### 2. Pendirian, Modal, dan Pengesahan
* **Pendirian ( ):**
* Didirikan oleh 2 (dua) orang atau lebih dengan akta notaris yang dibuat dalam bahasa Indonesia.
* Setiap pendiri wajib mengambil bagian saham pada saat Perseroan didirikan.
* *Pengecualian:* Perseroan Perorangan (khusus UMK) dan Perseroan yang seluruh sahamnya dimiliki oleh Negara (BUMN) dapat didirikan oleh 1 (satu) orang/pihak.
* **Status Badan Hukum ( jo. ):**
* Perseroan memperoleh status badan hukum setelah didaftarkan kepada Menteri Hukum dan Hak Asasi Manusia ("**Menkumham**") dan diterbitkan bukti pendaftaran secara elektronik.
* **Ketentuan Permodalan (, 32, 33 jo. ):**
* **Modal Dasar (*Authorized Capital*):** Besaran modal dasar ditentukan berdasarkan keputusan para pendiri Perseroan (ketentuan minimum Rp50.000.000 telah direlaksasi oleh , kecuali ditentukan lain oleh undang-undang sektoral).
* **Modal Ditempatkan dan Disetor (*Issued and Paid-up Capital*):** Minimal 25% (dua puluh lima persen) dari modal dasar wajib ditempatkan dan disetor penuh, dibuktikan dengan bukti penyetoran yang sah (misalnya setoran bank atau penilaian independen jika berbentuk *inbreng*).
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#### 3. Struktur Tripartit Organ Perseroan
Sistem hukum perseroan Indonesia mengadopsi model *two-tier board system* yang terbagi ke dalam tiga organ utama:
##### A. Rapat Umum Pemegang Saham ("RUPS") ( s/d 91 )
* Merupakan organ perseroan yang memegang wewenang yang tidak diberikan kepada Direksi atau Dewan Komisaris dalam batas yang ditentukan oleh dan/atau anggaran dasar.
* Wewenang eksklusif meliputi: perubahan anggaran dasar, persetujuan laporan tahunan, pengangkatan dan pemberhentian Direksi/Komisaris, serta persetujuan aksi korporasi besar (merger, akuisisi, likuidasi, kepailitan).
##### B. Direksi ( s/d 107 )
* Organ yang berwenang dan bertanggung jawab penuh atas pengurusan Perseroan untuk kepentingan Perseroan, sesuai dengan maksud dan tujuan Perseroan, serta mewakili Perseroan baik di dalam maupun di luar pengadilan.
* **Fiduciary Duty & Duty of Care ():**
* Wajib menjalankan pengurusan dengan iktikad baik (*good faith*) dan penuh tanggung jawab (*full responsibility*).
* Setiap anggota Direksi bertanggung jawab penuh secara pribadi atas kerugian Perseroan apabila bersalah atau lalai menjalankan tugasnya.
* **Doktrin Keputusan Bisnis (*Business Judgment Rule* - ):** Direksi terbebas dari tanggung jawab kerugian apabila dapat membuktikan:
1. Kerugian bukan karena kesalahan atau kelalaiannya;
2. Pengurusan dilakukan dengan iktikad baik dan kehati-hatian;
3. Tidak memiliki benturan kepentingan (*conflict of interest*); dan
4. Telah mengambil tindakan untuk mencegah timbul atau berlanjutnya kerugian.
##### C. Dewan Komisaris ( s/d 121 )
* Organ yang bertugas melakukan pengawasan secara umum dan/atau khusus sesuai dengan anggaran dasar serta memberi nasihat kepada Direksi.
* Bertanggung jawab renteng secara pribadi apabila lalai dalam menjalankan fungsi pengawasan yang mengakibatkan kepailitan atau kerugian perseroan (** dan (4)**), dengan perlindungan *business judgment rule* yang ekuivalen (****).
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#### 4. Tanggung Jawab Sosial dan Lingkungan ("TJSL / CSR")
* ** :**
Perseroan yang menjalankan kegiatan usahanya di bidang dan/atau berkaitan dengan sumber daya alam wajib melaksanakan Tanggung Jawab Sosial dan Lingkungan. Biaya dialokasikan dan diperhitungkan sebagai biaya Perseroan yang pelaksanaannya dilakukan dengan memperhatikan kepatutan dan kewajaran. Ketidakpatuhan dikenai sanksi sesuai ketentuan peraturan perundang-undangan sektoral.
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#### 5. Restrukturisasi Korporasi ( s/d 137 )
* Mengatur tata cara formal:
* **Penggabungan (*Merger*);**
* **Peleburan (*Consolidation*);**
* **Pengambilalihan (*Acquisition*);** dan
* **Pemisahan (*Spin-off/Demerger*).**
* Wajib memperhatikan kepentingan Perseroan, pemegang saham minoritas, karyawan, kreditor, mitra usaha, serta kepatuhan persaingan usaha sehat (monopoli). Rancangan aksi korporasi wajib diumumkan dalam minimal 1 (satu) surat kabar harian dan diberitahukan secara tertulis kepada kreditor paling lambat 30 (tiga puluh) hari sebelum pemanggilan RUPS.
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#### 6. Pembubaran, Likuidasi, dan Berakhirnya Status Badan Hukum ( s/d 152 )
* **Alasan Pembubaran ():**
1. Keputusan RUPS;
2. Jangka waktu berdirinya telah berakhir;
3. Penetapan pengadilan;
4. Harta pailit tidak cukup untuk membayar biaya kepailitan atau dalam keadaan insolvensi;
5. Dicabutnya izin usaha;
6. Dicabutnya status badan hukum oleh undang-undang.
* Pembubaran wajib diikuti dengan proses likuidasi oleh Likuidator atau Kurator. Perseroan tidak dapat melakukan perbuatan hukum kecuali untuk membereskan kekayaannya. Status badan hukum baru berakhir setelah pertanggungjawaban likuidasi diterima dan diumumkan serta dihapus dari daftar perseroan oleh Menkumham.
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#### 7. Panduan Kepatuhan Praktis
1. **Validitas Dokumen Korporasi:** Pastikan Anggaran Dasar diselaraskan dengan KBLI (Klasifikasi Baku Lapangan Usaha Indonesia) berbasis risiko melalui sistem OSS-RBA dan persetujuan Menkumham.
2. **RUPS Tahunan:** Wajib diselenggarakan paling lambat 6 (enam) bulan setelah tahun buku berakhir guna menyetujui Laporan Tahunan dan memberikan pelunasan serta pembebasan tanggung jawab (*acquit et de charge*) kepada Direksi dan Komisaris (** & 78 **).
3. **Daftar Pemegang Saham & Daftar Khusus:** Direksi wajib membuat dan memelihara Daftar Pemegang Saham dan Daftar Khusus terkait kepemilikan saham anggota Direksi dan Dewan Komisaris beserta keluarganya (** **).
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English Legal Analysis & Statutory Codification
Parallel Comparative Translation & Compliance Notes
### LEGAL ANALYSIS & STATUTORY PROVISIONS (ENGLISH)
Law Number 40 of 2007 on Limited Liability Companies ("**Company Law**"), as partially amended by Law Number 6 of 2023 on the Enactment of Government Regulation in Lieu of Law Number 2 of 2022 on Job Creation into Law ("**Job Creation Law**"), constitutes the primary statutory framework governing the incorporation, operation, governance, and liquidation of limited liability legal entities in Indonesia.
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#### 1. Statutory Definition and Corporate Characteristics
* ** point 1 of the Company Law in conjunction with the Job Creation Law:**
A Limited Liability Company (*Perseroan Terbatas* / "**Company**") is defined as:
> *"A legal entity which constitutes a partnership of capital, established pursuant to an agreement, conducting business activities with an authorized capital divided entirely into shares, or an individual legal entity that satisfies the criteria of Micro and Small Enterprises as regulated under the laws and regulations concerning Micro and Small Enterprises."*
* **Key Characteristics:**
* **Limited Liability:** Shareholders are not personally liable for agreements entered into on behalf of the Company and are not liable for Company losses beyond the value of their subscribed shares (****).
* **Piercing the Corporate Veil:** Limited liability protection is revoked where there is commingling of personal and corporate assets, bad faith/fraud, or exploitation of the company for personal enrichment (****).
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#### 2. Incorporation, Capitalization, and Legal Entity Status
* **Incorporation ():**
* Must be established by 2 (two) or more persons/entities by virtue of a notarial deed executed in the Indonesian language.
* Each incorporator must subscribe for shares upon establishment.
* *Exceptions:* Sole-shareholder companies are strictly permitted for Individual Companies (MSEs) and State-Owned Enterprises (SOEs/BUMN).
* **Legal Entity Status ( in conjunction with the Job Creation Law):**
* The Company acquires legal entity status upon registration with the Ministry of Law and Human Rights ("**MOLHR**") and the issuance of an electronic certificate of registration.
* **Capital Requirements (Articles 31, 32, 33 of the Company Law in conjunction with Government Regulation No. 8/2021):**
* **Authorized Capital (*Modal Dasar*):** Determined by the founders' mutual agreement (the statutory minimum of IDR 50,000,000 was abolished under the Job Creation Law, subject to specific sectoral regulatory minimums).
* **Issued and Paid-up Capital (*Modal Ditempatkan dan Disetor*):** At least 25% (twenty-five percent) of authorized capital must be issued and fully paid up, substantiated by legitimate proof of deposit (e.g., bank transfer confirmation or independent appraisal in the case of *in-kind* contributions).
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#### 3. Tripartite Corporate Governance Structure
Indonesian corporate law adheres to a strict *two-tier board model* structured into three distinct statutory organs:
##### A. General Meeting of Shareholders ("GMS / RUPS") (Articles 75 to 91 of the Company Law)
* The supreme corporate organ holding all powers not otherwise delegated to the Board of Directors or Board of Commissioners within the limits prescribed by the Company Law and/or the Articles of Association.
* Exclusive powers include: amending the Articles of Association, approving annual reports, appointing and dismissing Directors/Commissioners, and approving major corporate actions (mergers, acquisitions, dissolution, insolvency filings).
##### B. Board of Directors ("Direksi") (Articles 92 to 107 of the Company Law)
* The executive organ entrusted with and fully responsible for the day-to-day management of the Company in its best interests, in accordance with the corporate purposes, and representing the Company both inside and outside courts of law.
* **Fiduciary Duty & Duty of Care ():**
* Must exercise duties in good faith (*iktikad baik*) and with full responsibility (*penuh tanggung jawab*).
* Each Director is personally and jointly liable for company losses caused by fault or willful negligence.
* **Business Judgment Rule Doctrine ():** A Director is shielded from personal liability if they demonstrate:
1. The loss was not incurred due to their fault or gross negligence;
2. Management duties were executed in good faith and with appropriate diligence;
3. No personal conflict of interest was present; and
4. Reasonable measures were taken to mitigate or prevent such loss.
##### C. Board of Commissioners ("Dewan Komisaris") (Articles 108 to 121 of the Company Law)
* The supervisory organ responsible for overseeing management policies and general corporate affairs, and advising the Board of Directors.
* Subject to joint and several personal liability for negligence in supervision that precipitates bankruptcy or loss (** paragraphs (3) and (4)**), protected by equivalent *business judgment rule* safe harbors (****).
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#### 4. Corporate Social and Environmental Responsibility ("CSER / TJSL")
* **:**
Companies conducting business activities in the field of, or related to, natural resources are legally mandated to implement Corporate Social and Environmental Responsibility. The allocated funds are budgeted and expensed as corporate operational costs, implemented with due regard to decency and fairness. Non-compliance exposes the company to statutory sanctions under sectoral legislation.
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#### 5. Corporate Restructuring (Articles 122 to 137 of the Company Law)
* Governs mandatory statutory procedures for:
* **Mergers (*Penggabungan*);**
* **Consolidations (*Peleburan*);**
* **Acquisitions (*Pengambilalihan*);** and
* **Spin-offs/Demergers (*Pemisahan*).**
* Transactions must strictly safeguard the interests of the Company, minority shareholders, employees, creditors, business partners, and anti-monopoly fair competition principles. Corporate restructuring proposals must be published in at least 1 (one) nationwide daily newspaper and notified in writing to creditors at least 30 (thirty) days prior to the GMS summons.
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#### 6. Dissolution, Liquidation, and Termination of Legal Entity Status (Articles 142 to 152 of the Company Law)
* **Grounds for Dissolution ():**
1. GMS resolution;
2. Expiration of the term of duration specified in the Articles of Association;
3. Court decree;
4. Insolvent estate status or insufficient bankruptcy assets to pay liquidation costs;
5. Revocation of business license;
6. Revocation of legal entity status pursuant to law.
* Dissolution mandates liquidation by a Liquidator or Receiver. The Company cannot perform legal transactions except those required to wind up corporate affairs. Legal entity status officially terminates only upon approval of the liquidator's final accounting, formal notice, and removal from the Company Registry by the MOLHR.
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#### 7. Practical Corporate Compliance Protocols
1. **Corporate Regulatory Alignment:** Ensure the Articles of Association conform with the risk-based Indonesian Standard Industrial Classification (KBLI) via the OSS-RBA system and reflect current MOLHR corporate database records.
2. **Annual General Meeting (AGMS):** Must be convened no later than 6 (six) months following the close of the financial year to approve the Annual Report and grant a formal release and discharge (*acquit et de charge*) to the Board of Directors and Board of Commissioners (**Articles 66 & 78 of the Company Law**).
3. **Shareholder Registers:** The Board of Directors is statutorily required to maintain the Register of Shareholders (*Daftar Pemegang Saham*) and Special Register (*Daftar Khusus*) tracking shareholdings of Directors, Commissioners, and their immediate families (****).