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Blog - Legal Updates

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Blog: Legal Updates

Financial Service Providers in Indonesia are Required to Handle Customer Complaints

The Financial Services Authority OJK (Otoritas Jasa Keuangan) recently made effective Regulation No. 18/POJK.07/2018 (POJK 18/2018) on March 10, 2019, in order to improve the process of complaint handling and consumer protection in the industry of finance in Indonesia. Details are set out under this regulation with focus on the customer, instead of just on …

Newest Regulation Update on Food Packaging in Indonesia

On July 29, 2019, the National Agency of Drug and Food Control or Badan Pengawas Obat dan Makanan (BPOM) in Indonesia has made effective Regulation 20/2019 on Food Packaging. The purpose of this new legal framework is to have more stringent supervision on food packaging. This regulation is compulsory to all types of food packaging …

The Launch of OSS System’s New Version on November 4 2019: What to Know

The Capital Investment Coordinating Board (BKPM) in Indonesia released a BKPM Letter 5743 on Implementation Plan of a New Version of the Online Single Submission System, or OSS, on October 17, 2019. Letter 5743 addresses the launch of the OSS Version 1.1 on November 4, 2019. All business licensing process were halted between November 1 …

New Positions for Foreign Workers in Indonesia – September 2019 Updates

The government of Indonesia has proved that they welcome foreign investments in the country by issuing new regulations to help create a more open business environment for foreign investors. These new set of regulations came into force on August 27, 2019. The new law will no longer restrict various positions that foreigners are able to …

Market Overview and Applicable Regulations on Peer-to-Peer Lending Business in Indonesia

It has been two years since the enactment of Regulation POJK 77/2016 by the Financial Service Authority (OJK), making peer-to-peer (P2P) lending a flourishing industry in Indonesia. Being one of Southeast Asia’s largest economies, Indonesia has more than 260 million people, and 96 million of them are unbanked, according to the World Bank’s Findex report. …

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 …