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Blog - Legal Updates

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Blog: Legal Updates

Regulation Update on Peer-to-Peer Lending Business in Indonesia

When it comes to fintech business in Indonesia, the peer-to-peer (P2P) lending has achieved a triple-digit growth. The growth is mainly due to the support of a large unbanked population in the country. Therefore, in order to control and supervise the fintech industry, the Indonesian Financial Services Authority OJK (Otoritas Jasa Keuangan) published an updated …

Business Update: Domicile Letter No Longer Required for Business Establishment in Jakarta

Both local and foreign entrepreneurs looking to start businesses and establishing companies in Jakarta may feel relieved as the procedure of company registration in Jakarta has been made easier than ever before, thanks to the city’s government. This article elaborates in more details regarding the business update related to company registration in Jakarta. Company and …

Digital Financial Innovation in Indonesia

The Indonesian Financial Services Authority (Otoritas Jasa Keuangan – OJK) officially issued a Regulation No. POJK 13 /POJK.02/2018 concerning Digital Financial Innovation for Financial Services Sector (“POJK 13”) in the financial industry in Indonesia, which was put into effect on August 16, 2018. POJK 13 was set up to regulate the exploding growth of digital …

OSS System Services Begin to Operate at BKPM

Nearing the end of the year 2018, The Electronic Integrated Business Licensing System (Perizinan Berusaha Terintegrasi Secara Elektronik abbreviated as PBTSE), also known as the Online Single Submission (OSS) system, will be transferred from the Coordinating Ministry for Economic Affairs to the Investment Coordinating Board (BKPM), starting on January 2, 2019. The schedule is as …

New Negative Investment List Opens 54 Sectors to Foreigners

In order to boost foreign and domestic investments in Indonesia, the government of Indonesia is going to update the Negative Investment List (NIL), which was last amended in 2016. Reasons for the Change? The new list was announced in November 2018 as part of the 16th economic policy package by the Coordinating Ministry for Economic …

Online Single Submission System and Its Effect on Company Registration Indonesia

Recently, the Indonesian government adopted several business-friendly policies to make it simpler for foreign investors to jumpstart their businesses in the archipelago. The results are, however, questionable. This article introduces a newly established system of company registration in Indonesia through so-called Online Single Submission System and provides a general overview of the most important facts …

Recruitment of Foreign Workers in Indonesia

New Regulation on Hiring Foreigners The President of Indonesia, Joko Widodo, has signed Presidential Regulation No. 20/2018 on the Recruitment of Foreign Workers in Indonesia. …

Principle Business License Replaced with Capital Investment Registration

The Investment Coordinating Board in Indonesia (BKPM) has just made effective of the new changes on January 2, 2018, regulated under BKPM Regulation No. 13 of 2017 (BKPM Reg. 13/2017). This new regulation concerning the Guidelines and Procedures for License and Investment Facilities, has now taken effect at the Central One Stop Services Office of …