Indonesia Omnibus Law – Changes to the Company Law Indonesia’s closely watched omnibus jobs creation invoice just lately turned regulation. The acknowledged goal of the Omnibus Law is to bolster funding and create jobs by streamlining rules and simplifying the licensing process to enhance the benefit of doing enterprise in Indonesia. Indonesian Omnibus Bill – Changes to Labor-Related Sectors The Indonesian House of Representatives just lately passed the Omnibus Bill on Job Creation (the “Omnibus Bill”).

  • Disputes associated to actual estate are treated in a similar method as another dispute in Indonesia.
  • Indonesia’s PLN Invites Hydropower Developers to Prequalify Indonesia’s state-owned energy utility PLN, has issued an invitation to hydropower developers to submit applications to be included on the List of Selected Providers for Indonesian hydropower initiatives with a capacity of above 10MW.
  • Discrimination Law and Equality in Indonesia Indonesia doesn’t have an overarching anti-discrimination legislation; rather, a patchwork of legal guidelines and sector-specific regulations prohibit discrimination and encourage equality.
  • The OJK Issues New Circular Letter on Micro-insurance Products Circular Letter 9, while not in the type of an OJK regulation, now prescribes a detailed manner and approach to the distribution and sale of micro-insurance products.
  • This edition covers, amongst different topics, Reserved Alternative Investment Funds and the Law of 18 December 2015 amending certain provisions of the Companies Law, the Law on the Register of Commerce and Annual Accounts and the Luxembourg business code.

To learn more about our services and get the most recent legal insights from across the Middle East and North Africa region, click on on the hyperlink beneath. This edition of our Luxembourg Legal Update covers, amongst other topics, Bill N° 6398 on the modification of the Insurance Sector Law and the Grand Ducal Regulation of 14 December on the brand new mandatory process for the submitting of monetary info with the Luxembourg register of commerce. This edition of our Luxembourg Legal Update covers, amongst other topics, the CSSF Annual Activity Report for 2014 and the Prospectus Law, and a case regulation on the limitation of legal responsibility clause for banks. This edition covers, amongst other matters, Reserved Alternative Investment Funds and the Law of 18 December 2015 amending certain provisions of the Companies Law, the Law on the Register of Commerce and Annual Accounts and the Luxembourg business code. This version covers, amongst different subjects, the Law of eleven October 2016 on the reform of the parental depart, the Law of 23 July 2016 on the model new form of simplified S.à.r.l.

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Guide to Benefits in Indonesia In 2011, the Indonesian authorities reformed its National Social Security System and handed Law No. 24 on the Social Security Organising Body to help meet the basic needs of the country’s inhabitants. Companies in Indonesia are required to register staff in the Indonesian government’s employment social safety programmes. New Regulation on Trademark Registration and Criteria on Well-Known Trademark Regulation 67 turned effective on 30th January 2017 and offers more detailed provisions on trademark registration procedures criteria to determine the similarity of goods/services in addition to criteria on well-known logos.

Legal Update

Indonesian Government Publishes 2017 Cost of Electricity Generation Figures The Government just lately issued Decree No. 1772 K/20/MEM/2018 which illustrate the costs to PLN of procuring energy from the totally different systems/sub-systems throughout Indonesia. Indonesia’s PLN Invites Hydropower Developers to Prequalify Indonesia’s state-owned power utility PLN, has issued an invitation to hydropower builders to submit functions to be included on the List of Selected Providers for Indonesian hydropower tasks with a capability of above 10MW. New Regulation in Managing Oil and Gas Working Areas with Expiring PSCs The authorities has issued MEMR Regulation No. 23 of 2018, which states that a PSC Contractor doesn’t routinely have the best to a PSC extension. Procurement Arrangements within the Indonesian Construction and Projects Sector Under Indonesian Law No. 2 of 2017 (the “Construction Law”), procurement preparations in Indonesia are made by way of the execution of a building work contract between the project owner/employer and the service provider/contractor. Terminating an Employment Relationship in Indonesia Under Law No. 13 of 2003 relating to Labor (the “Labor Law”) and different prevailing labor legal guidelines and laws, employment-at-will and termination upon simple notice aren’t acknowledged in Indonesia.

Cambodia: Deadline For 2022 Foreign Worker Quota Purposes Extended To 31 January 2022

New OJK Rule on Public Accountants and Public Accountant Offices The issuance of this new rule has an influence on the engagement of external auditors by publicly-listed corporations provided that public companies are one of many topics being regulated and supervised by OJK. Data Categorization for Electronic System Operators Providing Public Services The MOCI has issued a draft modification to Government Regulation No. eighty two of 2012 which requires electronic system operators offering public companies to have onshore knowledge facilities and disaster recovery centers. The New Tax Holiday Regulation of Indonesia New Minister of Finance regulation provides more attractive corporate earnings tax discount facilities for buyers. NIK New Development The DGCE regulation requires a company to course of the IMTA and NPWP for foreign directors not residing in Indonesia. Franchise Agreements in Indonesia A franchise, beneath Indonesian laws, is defined as a special proper owned by a person or a legal entity to a novel business system that has proven profitable in promoting items and/or companies, and can be utilized by one other get together based mostly on a Franchise Agreement.

Bank Indonesia Regulations on Foreign Exchange Transactions Bank Indonesia recently issued a number of regulations associated to overseas change transactions by Indonesian banks. These laws update current laws issued by BI with the goal of making a healthy foreign change market in Indonesia, as is explained on this brief abstract. Government Changes Divestment Requirements for Mining Companies in Indonesia Indonesia’s mining business stays in flux. On 14th October 2014, the Indonesian Government issued the third amendment to Government Regulation No. 23 of 2010 relating to the Implementation of Mineral and Coal Mining Business Activities and in doing so introduced revised divestment necessities. Guide to Background Checks in Indonesia Employers in Indonesia often perform background checks on applicants.

BKPM Stops Issuing Licenses On 21st June, the government issued Regulation No. 24 of 2018 on Electronic Integrated Business Licensing Services. As a consequence, the BKPM will temporarily droop the processing and issuing of licenses and will transition to a nationwide Online Single Submission system. Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19 The COVID-19 international pandemic has taken a toll on the Indonesian economy, underlining the necessity for financial establishments to have sufficient liquidity in the face of uncertain occasions. New Developments in Indonesian Immigration Policy On September 11, 2020, the Indonesian Government enacted a brand new regulation that introduces a number of adjustments to the immigration regime that affect foreigners, Indonesians and the procurement of travel documents. Sign up for the GBG Indonesia Quarterly Business Intelligence Report for the latest news in your sector.

By Lontong