Izin Usaha Tetap (IUT)

UIT stands for Izin Usaha Tetap (Permanent Permit) from the Investment board. It is a business permit issued by the local government authorities in Indonesia, particularly by the regional Investment Coordinating Board (Badan Koordinasi Penanaman Modal or BKPM). It allows a foreign-owned company or a foreign investor to operate a business in Indonesia on a more permanent basis. Businesses holding an IUT are expected to comply with Indonesian laws and regulations, including tax and employment laws. Businesses with an IUT may have reporting requirements and must renew their permits as necessary, depending on the region and business activities.