Hogan Lovells (JD Supra Indonesia)

On 4 January 2021 Indonesia enacted the Presidential Regulation No. 2 of 2021 on the Ratification of Convention Abolishing the Requirement of Legalization for Foreign Public Documents, which came into force on 5 January 2021 (PR 2/2021). Simplification of the legalization1 process of foreign public documents is intended to improve public services as well as promote the ease of doing business in...

In an attempt to enhance legal certainty, especially with the rapidly developing digital platforms as the pandemic appeared to linger longer than it was previously speculated, the Ministry of Communication and Informatics of the Republic of Indonesia (MOCI) has issued the Regulation No. 5 of 2020 regarding Private Electronic System Provider (Regulation) on 16 November 2020, which was promulgated...

In a release, Komisi Pengawas Persaingan Usaha (KPPU) – the Indonesian Competition Authority, published its first Article 20 (Predatory Pricing) decision. The KPPU Decision No. 03/KPPU-L/2020 was issued on a virtual hearing on 15 January 2021, whereby KPPU found that PT Conch South Kalimantan Cement (CSKC), subsidiary of Anhui Conch Cement Co. Ltd., to have violated Article 20 of the Law No. 5 of

In line with the spirit of bolstering investment from foreign investors into Indonesia with the aim to create new job opportunities as mandated by Law No. 11 of 2020 on job creation (Omnibus Law), the Government of Republic of Indonesia issued the implementing regulations of Omnibus Law for the creation of Indonesia's first sovereign wealth fund Lembaga Pengelola Investasi (LPI). LPI is...

Businesses are now entering a new era of mining in Indonesia. On 10 June 2020 President Joko Widodo finally signed a long-anticipated bill amending Law No. 4 of 2009 on Minerals and Coal Mining (the mining law) after previously passing parliamentary approval on 12 March 2020. The bill – now ratified into Law No. 3 of 2020 (the new mining law), and which is effective as of 10 June 2020, introduces

At the end of April, the Muslim world enters Ramadan. The month of Ramadan, where a significant majority of the 1.8 billion Muslims worldwide fast during the day breaking ritual after sunset, is expected from around 23 April to 23 May 2020. This year, the holy month will likely coincide in Southeast Asia, particularly in Indonesia with the "peak of the curve" of COVID-19 cases. We anticipate it,...

The highest judiciary authority in Indonesia, the Supreme Court (Mahkamah Agung, MA), recently issued MA Decree No. 3/KMA/SK/I/2020 on the Guidelines on the Handling of Bankruptcy and Suspension of Debt Payment Proceedings (the Guideline). This Guideline sets out, among others... Please see full Publication below for more information.

The Medium Term National Development Plan (Rencana Pembangunan Jangka Menengah Nasional) 2020-2024, issued by the Indonesian Ministry of National Development Planning (Bappenas) (RPJMN), seeks annual economic growth of 6 percent, with an initial rate of 5.3 percent expected in 2020. This ambitious target will need to be underpinned by a stable banking industry, under the mandate of the Indonesian

2019 was an interesting year, especially politically and legally. Yet Indonesia has made it to 2020 better and stronger. Please see full Publication below for more information.

On 19 September 2019 the Financial Services Authority (OJK) issued OJK Regulation No. 24/POJK.05/2019 on Business Plans for Non-Banking Financial Institutions (NBFI Business Plan Regulation). Whilst this long-awaited regulation came into force on 27 September 2019, it was only made publicly available on the OJK website in late October 2019. Please see full Publication below for more...

On 10 January 2019 the Government of Indonesia issued a new regulation that further tightens control over the proceeds from the export of Indonesian natural resources. As a result, such proceeds must be retained in Indonesia, and can only be sent offshore for specific purposes. Please see full Publication below for more information.

10 years after the enactment of Law No. 24 of 2009 on the State Flag, Language, Coat of Arms and Anthem (Language Law), the implementing regulations for the Language Law have finally been issued. On 30 September 2019, the President signed Presidential Regulation 63 of 2019 on the Use of the Indonesian Language (Implementing Regulations).

Round-up: Indonesia is our new quarterly newsletter, rounding up all the latest legal updates and events in Jakarta. Please see full Publication below for more information.

On 1 July 2019 the Indonesian Competition Authority, Komisi Pengawas Persaingan Usaha (KPPU), reformed its organizational structure in order to gear up for a more efficient enforcement. As part of the organizational reform, KPPU established the Directorate of Economics, the Directorate of Competition Policy, and the Directorate of Competition Advocacy and Partnership (Small Medium Enterprise/SME)

Our third SEA View article highlights the Corruption Eradication Commission's (KPK) step-up in enforcement against corporate malfeasance and forecasts the longevity of this stance with upcoming leadership changes at Indonesia's anti-corruption body. Please see full Publication below for more information.

Last year, Badan Arbitrase Nasional Indonesia (BANI Arbitration Center) (BANI) published its updated rules and procedures (2018 BANI rules and procedures). This marks the third time BANI has updated its rules and procedures since BANI was established in 1977. The 2018 BANI rules and procedures will apply to all BANI administered arbitrations and arbitrations adopting the BANI rules and procedures

Following the recent hype surrounding equity crowdfunding activities, particularly for startup companies, the Indonesian Financial Service Authority (Otoritas Jasa Keuangan or OJK) issued OJK Regulation No.37/POJK.04/2018 regarding equity crowdfunding (POJK 37/2018) on 31 December 2018.

As part of its 16th economic package, the Government of Indonesia (GOI) announced on 16 November 2018 that in order to attract further foreign investment, it intends to relax the restrictions on foreign direct investment (FDI) in certain business sectors. Please see full Publication below for more information.

Through its recently-issued Regulation No. 18/POJK.07/2018 ("POJK 18/2018"), the Indonesian Financial Services Authority (the "OJK") now requires financial service companies (pelaku usaha jasa keuangan or "PUJKs") to establish customer complaint handling units and procedures setting out in detail how customer complaints will be handled.

Recent changes to the mining investment regime remind us that it is more important than ever to think ahead and carefully plan your mining divestment strategy. Please see full Publication below for more information.

The Indonesian Financial Services Authority (the OJK) will now manage the provisions of digital banking services by commercial banks through its recently issued regulation POJK 12/2018, effective 8 August 2018. POJK 12/2018 was issued to increase operational efficiency, improve customer service quality, and to encourage responsible innovation. The regulation applies to any commercial bank...

Until very recently, the Financial Services Authority (OJK) only regulated peer-to-peer fintech lending platforms (P2P Firms). A recently issued OJK regulation (POJK 13/2018) increases its regulatory mandate over fintech firms in a bid to prevent financial sector stability, promote consumer protection, and improve non-competitive practices. POJK13/2018 is effective as of 16 September 2018. ...

The Indonesian FinTech Association (Aftech) recently published a code of conduct providing guidance on ethical and responsible behavior (the code) for peer-to-peer financial technology (fintech) lending platforms that are registered or licensed by the Financial Services Authority (P2P firms).

Indonesia is gaining popularity among both regional and international private equity funds. Demographics and economic forces increasingly portray Indonesia as a 'must-be-in' market.