News andUpdates
News and Updates
May 15, 2018
New Government Regulation Clarifies Foreign Ownership in Insurance Business Companies
The Indonesian Government has just issued Government Regulation No. 14 of 2018 on Foreign Ownership in Insurance Business Companies (“GR 14/2018”), which entered into force on April 18, 2018. The…
May 8, 2018
Newsflash on BI Sets Out New E-Money Regulation
On May 4, 2018, the Central Bank of Indonesia (Bank Indonesia - “BI”) finally issued a long-expected regulation regarding electronic money, namely BI Regulation No. 20/6/PBI/2018 on Electronic Money…
April 9, 2018
Rules on Tax Holiday Updated
As boosting investment is a priority for the Government of Indonesia, the Minister of Finance (“MOF”) recently issued MOF Regulation No. 35/PMK.010/2018 dated April 4, 2018 on Granting of Corporate…
April 6, 2018
New Regulation on Employment of Foreign Workers in Indonesia
On March 29, 2018, Presidential Regulation No. 20 of 2018 dated March 29, 2018 on Utilization of Foreign Expatriates (“PR 20/2018”) was issued as an effort to support the national economy, to expand…
March 13, 2018
Ultimate Beneficial Owners
On March 1, 2018 the President signed Presidential Regulation No. 13 of 2018 on the Implementation of Know-Your-Beneficial-Owner Principle by Corporations for the Prevention and Eradication of the…
December 26, 2017
New Capital Investment Regulation on Licensing and Facilities
The Capital Investment Coordinating Board (Badan Koordinasi Penanaman Modal or “BKPM”) recently issued Chairman of BKPM Regulation No. 13 dated December 11, 2017, on Guidelines and Procedures for…
December 15, 2017
BANK INDONESIA ISSUES REGULATIONS ON THE IMPLEMENTATION OF FINANCIAL TECHNOLOGY
On November 30, 2017, the Central Bank of Indonesia (Bank Indonesia - “BI”) issued BI Regulation No. 19/12/PBI/2017 on the Implementation of Financial Technology (the “BI Regulation”) in order to…
December 1, 2017
BI SETS OUT ARRANGEMENT FOR COMMERCIAL PAPER ISSUANCE AND TRANSACTIONS
In order to deepen the financial market and support the issuance of short-term debt securities by Indonesian companies, on July 20, 2017 the central bank of Indonesia (Bank Indonesia - ”BI”) issued…
October 26, 2017
BI SETS OUT ARRANGEMENT FOR NATIONAL PAYMENT GATEWAY (“NPG”)
On June 22, 2017, the central bank of Indonesia (Bank Indonesia - “BI”) issued BI Regulation No. 19/8/PBI/2017 regarding the National Payment Gateway (the “BI Regulation”), which aims to create a…
October 3, 2017
MOCI Announces 2.1 GHz and 2.3 GHz Frequency Band Auction Rules
On September 26, 2017, the Minister of Communications and Informatics (the “MOCI”) issued Regulation No. 26 of 2017 (the “Regulation”), which sets out procedures for 2.1 GHz and 2.3 GHz band spectrum…