1 October 2024 The Crystalisation of the Incentives in the New Capital City of Indonesia Key Highlights of Indonesian Government Regulation No. 29 of 2024 Ever since the Indonesian Government, during Jokowi era, announced various business incentives (mainly) for foreign investors who wish to set-up a presence in the new capital city of Indonesia…
Update: 30 September 2024 OJK Reforms its Authority over Fintech Sector An Overview of OJK Regulation No. 3 of 2024 In the past 10 years, the Indonesian market has witnessed a significant surge in technology innovation within the financial services sector—such as the rapid approval of personal loans, automated insurance claims, online-based underwriting acceptance,…
25 July 2024 Borderless Opportunity: Indonesia Launches Golden Visa On Thursday 25th of July 2024, Indonesian Ministry of Law and Human Rights (“MoLHR”) officially launch as well as introduces its latest immigration product named Golden Visa which took place in South Jakarta. The issuance of Golden Visa is purposefully aimed to invite potential talented individuals…
25 July 2024 The Issuance of the Regulation of Authority of Financial Services, Number 3 of 2024 as Improvement of the Law in Respect of Technological Innovation of the Financial Sector The process of legal finding always follows the development and replaces outdated regulations with new ones. As regulated under Article 4 Law Number 4…
Friday, 28 June 2024 MNP Law Firm Named Elite One Practice Leader and Top Firm at Indonesia Law Firm Awards 2024 Each year, Hukumonline.com Indonesia orchestrates the nation’s most prestigious legal event, honouring the dedication, hard work, and innovation of law firms that shape the legal landscape of Indonesia. This gathering reaffirms the status…
07 June 2024 Clients’ Highlights – June 2024 Government Issues 3% Policy for Tapera Program President Joko Widodo has enacted Government Regulation (GR) Number 21 of 2024 concerning Amendments to GR Number 25 of 2020 regarding the Implementation of Public Housing Savings (“GR 21/2024”) on May 20, 2024. Public Housing Savings (“Tapera”) is a program…
9 August 2023 Clients’ Highlights – August 2023 Local Content Requirements – Impact to FDI Local Content and Its Design Local content requirements are put in place to push the use of domestic resources production processes within various sectors; these requirements mostly found in industrial and manufacturing sectors. The underlying thoughts of local content requirements…
21 June 2023 Compliance Bulletin – June 2023 International Sanctions Screening Sanctions screening is the process of determining whether a country sanctions a person, company, or other entity. In the financial services industry, this process would normally be part of the KYC (know-your-customers) process. Historically, sanctions screening has been a blind spot for business…
5 June 2023 Corporate Bulletin – June 2023 The Future of Healthcare Innovation – Overview of the Regulatory Sandbox Digital healthcare innovation in Indonesia is growing rapidly in the past years. In 2022 alone it is estimated that approximately 18 million health consultation activities were carried out through telemedicine companies. The development of formal laws…
07 March 2023 Immigration Newsletter – March 2023 Pre-investment Visa Regime in Indonesia In the past decades, Indonesia strives towards creating a conducive the investment climate within the country. The attempts are varied from streamlining the investment licensing process, revisiting import tariffs, to providing foreign investors with the ease to enter the country. The…