News

Client Alert: Ojk Issues New Regulation On Multifinance Activities: Allowing Direct Cash Finance Loans & 0% Dp For Vehicle Financing

After almost five years, the Indonesian Financial Services Authority or OJK (Otoritas Jasa Keuangan) finally issued the long awaited new regulation governing multifinance activities in Indonesia, namely OJK Regulation No. 35/POJK.05/2018 on Multifinance Activities (“POJK 35”), replacing the previous OJK Regulation No. 29/POJK.05/2014 (“POJK 29”) on the same matter. The significant changes introduced by POJK… Read More »

OJK Issues Equity Crowdfunding Regulation

Towards the end of 2018, the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued OJK Regulation No. 37/POJK.04/2018 on Equity Crowdfunding (“OJKR 37/2018”) providing companies (particularly start-up companies) with an alternative for fundraising by way of offering equity securities directly to investors via an online platform operated by an equity crowdfunding operator (“Equity Crowdfunding”).… Read More »

Client Alert: BKPM Takes Over The OSS System

In its latest efforts to cut the red tape and simplify the licensing procedure, at the end of July 2018 the Government of Indonesia, through Government Regulation 24/2018 (GR 24/2018), introduced the Online Single Submission (OSS) system, which allows investors to apply for the various kinds of business licenses through the integrated OSS system. As… Read More »

Pre-construction marketing or presale of apartments– things to observe

In the last decade, real estate businesses in Indonesia, especially the development and sale of Apartments and condominiums (“Apartments”) have grown significantly. According to a reputable international property consultant, around 21,000 new Apartment units were expected to be developed by Indonesian Developers. With new Apartments growing rapidly in 2018, developers are racing to achieve higher… Read More »

Client Alert: Location Permit Integration Into OSS System

Under Indonesian law, a PMA is required to obtain a Location Permit (Izin Lokasi) from the relevant regional government or the Ministry of Agrarian Affairs and Spatial Planning/Head of the National Land Agency (“MAA”) to procure and/or utilize a plot of land for its investment purposes. However, it is important to note that the Location… Read More »

Highlight Provision of OJK Regulation No. 13/POJK.02/2018 on Digital Financial Innovations

A. Background & Scope of Regulatory Framework On 16 August 2018, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) enacted OJK Regulation No. 13/POJK.02/2018 on Digital Financial Innovations within the Financial Services Sector (“DFI”) (“OJKR 13/2018”),  providing a regulatory framework for DFI. OJKR 13/2018 applies to DFI Operators (“Operators”) conducting the DFI businesses that meet… Read More »

New Indonesian Court Electronic Filing System

On 4 April 2018, the Supreme Court of the Republic of Indonesia (“SC”) issued SC Regulation No. 3 of 2018 concerning Electronic Court Case Administration (“SC Regulation No. 3/2018”). SC Regulation No 3/2018 sets a new landmark in the court filing system in Indonesia by introducing the electronic court filing system. In particular, it significantly… Read More »

BKPM revokes regulation No. 13/2017 and introduces new investment licensing

In line with the mandates of Government Regulation No. 24 of 2018 on Electronic Integrated Licensing Services (“GR 24/2018”) (click here for our previous update on GR 24/2018) to simplify the licensing process for investors, BKPM recently issued BKPM Regulation No. 6 of 2018 on the Guidelines and Procedures for Investment Licensing and Facilities (“BKPM… Read More »

Changes in investment licensing procedures

As part of its commitment to making it easier to run businesses in Indonesia, on 21 June 2018 the Indonesian Government issued the long-awaited Government Regulation No. 24 of 2018 on Electronically Integrated Licensing Services (“GR 24/2018”). GR 24/2018 cuts the red tape and simplifies the previously complex licensing procedures by introducing a new system… Read More »

New Requirements by Indonesian Government on Management of Expiring Oil and Gas Working Areas and Signing Bonus

On 24 April 2018 the Minister of Energy and Mineral Resources of the Republic of Indonesia (“MEMR”) issued MEMR Regulation No. 23 of 2018 (“MEMR Regulation 23/2018”), as further amended by MEMR Regulation No 28 of 2018 dated 7 May 2018 (“MEMR Regulation 28/2018”). Below are the highlights of MEMR Regulation 23/2018: MEMR Regulation 23/2018… Read More »