News andUpdates
News and Updates
January 21, 2016
Indonesia Boosts Investment Activities Through Special Economic Zones (SEZs)
To accelerate economic development and job growth, the government enacted Law No. 39 of 2009 on Special Economic Zones (“SEZs”). ♦ INCENTIVES AND FACILITIES SEZs attract investors by offering a…
January 20, 2016
OJK Re-regulates Venture Capital Business
On December 28, 2015, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued new regulations governing venture capital business, which was previously regulated by the Ministry of…
November 9, 2015
Importer Identification Numbers Reregulated
As a part of the Economic Policy Packages launched by President Joko Widodo, the Minister of Trade issued the Minister of Trade Regulation No. 70/M-DAG/PER/9/2015 on Importer Identification Numbers…
October 29, 2015
Minister of Manpower Regulation No. 16 of 2015 Amended
On October 23, 2015, the Minister of Manpower issued Regulation No. 35 of 2015 (“Regulation 35”) to amend certain provisions of the Minister of Manpower Regulation No. 16 of 2015 (“Regulation 16”).…
September 25, 2015
Debt-to-Equity Ratio Determined by Government
Debt-to-Equity Ratio Determined by Government After more than 30 years, the Minister of Finance finally issued a regulation to determine the debt-to-equity ratio (the “DER”) for certain corporate…
July 14, 2015
New Procedures on Expatriate Utilization Permits
Less than 2 years from the previous rules on expatriate utilization (Minister of Manpower and Transmigration Regulation No. 12 of 2013), the Minister of Manpower recently enacted the new procedures…
July 1, 2015
Press Release MEMR on Obligation to Use Rupiah
As mentioned in our recent Newsflash, July 1, 2015, marked the effective date of Bank Indonesia Regulation No. 17/3/PBI/2015 on Mandatory Use of Rupiah within the Territory of the Republic of…
June 22, 2015
Court Nullifies English Language Contract
On June 20, 2013, the District Court of Jakarta Barat nullified a Loan Agreement executed only in English, concluding that contracts involving Indonesian parties must be written in Bahasa Indonesia,…
June 16, 2015
BI Sets July 1 Deadline for Mandatory Use of Rupiah for Transactions in Indonesia
The obligation to use Rupiah in Indonesian transactions has long been established under the Currency Law (Law No. 7 of 2011 on Currency). Recently, however, Bank Indonesia took major steps to…
May 13, 2015
Outsourcing Licenses to Be Processed by BKPM; Only Granted for Single Line of Business
On January 26, 2015, the Minister of Manpower issued Reg. No. 6 of 2015 on Standard Operational Procedure for Outsourcing Business License Issuance through the One-Stop Integrated Services in the…