How to check a PT PMA

1. Establish that the company exists first — the first check in this guide — because PMA status attaches to a legal entity that already exists rather than replacing one.
2. Read the NIB: it states the investment status (PMA or domestic) and the KBLI codes the company may operate under. Neither can be inferred from the company’s name or from a director’s nationality.
3. Match every KBLI code on the NIB against the investment list. Some lines are closed, some are open subject to conditions, and some cap the percentage a foreign party may hold.
4. Check the latest deed in the AHU system for the shareholders and the issued and paid-up capital. The minimum investment threshold for a PMA is set by ministerial regulation and has changed before, so what applies is the regulation in force on the day you check.
5. Ask for the quarterly investment activity reports. That obligation runs continuously, and a PMA that has never filed one is usually not carrying out the activity its NIB records either.

• The status is PMA and every KBLI code is open to foreign ownership: the formal requirements were met at the last filing.
• The status is PMA but the foreign shareholding exceeds the cap for that business line. This is the commonest finding, and the one most often treated as settled because the NIB has already been issued.
• The NIB carries a long list of KBLI codes: a code is permission to carry out an activity, not evidence that it is carried out.
• The director is a foreign national but the company is domestic: being a director is not investing, and the two are checked in different places.

• PMA status says nothing about a company’s finances.
• PMA status validates nobody’s stay permit or work permit; immigration and employment stand on their own.
• What is recorded is the shareholders as the deed has them. Who actually provides the money and controls the company cannot be read there — that is the next check in this guide.
• Capital thresholds and the list of business lines are changed by regulation; a figure that was right last year need not be right today.

If the KBLI codes do not match what is being offered, or the shareholding exceeds the cap, what fixes it is an amendment of the articles and the licence — not a side agreement sitting beside the deed. Licensing consultants and notaries who handle foreign investment can check this before money moves.

Company profiles here state the legal form and show the official notices that concern a company, but we do not publish shareholdings or investment status — both are read on the official documents. The guide page on the PT explains the legal entity all of this rests on.

• Law 25/2007 on Investment — article 5, on the form a foreign investment must take
• Law 40/2007 on Limited Liability Companies, as amended by Law 6/2023
• Presidential Regulation 10/2021 on investment business lines, as amended by Presidential Regulation 49/2021
• Government Regulation 5/2021 on risk-based business licensing, for the NIB and its KBLI codes

A summary of the rules in force, not legal advice. Rules and thresholds change — check with the relevant authority before you register.

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