Foundations (Yayasan) is an organization or legal entity that has a purpose and purpose in which the objectives are social, religious and humanitarian. So the foundation is not intended to seek profit or non-profit.
Yayasan does not have members, it’s mean that the foundation does not have shareholders as PT (Limited Liabbility Company) or allies in the CV. But in its structure, yayasan usually consists of coaches, supervisors, founders, and administrators of the foundations.
Regarding the establishment of foundations by foreigners, mentioned in the article Law no. 16/2001 which was amended by Law No. 28/2004 concerning the requirements for establishing foundation 9 paragraph 5, which essentially states that foundations can be established by foreigners or together with foreigners. This means that the foreigner can act as the sole founder, or the foreigner can work with Indonesian citizens to establish a foundation in Indonesia.
The establishment of a foundation by a foreigner can be done, with the following conditions:
Foreigners only act as founders, meaning that they do not carry out management actions.
The amount of initial wealth originating from separated personal assets is a minimum of Rp 100,000,000 (one hundred million rupiah).
The foreigner must have a limited Stay Permit (KITAS) or Permanent Stay Permit (KITAP) in Indonesia.
Administrators from foundations established by foreigners must all be Indonesian citizens.