New OJK Rule on Public Accountants and Public Accountant Offices The issuance of this new rule has an impression on the engagement of exterior auditors by publicly-listed corporations on situation that public firms 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 amendment to Government Regulation No. 82 of 2012 which requires digital system operators offering public providers to have onshore information facilities and disaster restoration centers. The New Tax Holiday Regulation of Indonesia New Minister of Finance regulation provides more attractive company income tax reduction facilities for traders. NIK New Development The DGCE regulation requires a company to course of the IMTA and NPWP for international directors not residing in Indonesia. Franchise Agreements in Indonesia A franchise, beneath Indonesian laws, is defined as a particular proper owned by an individual or a legal entity to a unique enterprise system that has proven profitable in promoting goods and/or services, and can be utilized by another celebration based mostly on a Franchise Agreement.
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 assist meet the essential wants of the country’s population. Companies in Indonesia are required to register staff within the Indonesian government’s employment social security programmes. New Regulation on Trademark Registration and Criteria on Well-Known Trademark Regulation 67 turned efficient on 30th January 2017 and provides more detailed provisions on trademark registration procedures standards to determine the similarity of goods/services in addition to standards on well-known trademarks.
Real Estate Disputes in Indonesia There isn’t any arbitration facility or course of specifically designed to accommodate real estate matters underneath Indonesian regulation. Disputes associated to actual property are treated in an analogous method as some other dispute in Indonesia. Enactment of the New Trademark and Geographical Indication Law Indonesia recently enacted the brand new Trademark and Geographical Indication Law which is able to exchange Law No. 15 of 2001. The new legislation will provide protection to broader kinds of trademark, as properly as make it more time and cost-efficient for trademark owners to acquire registration licences in Indonesia.
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Launching of Electronic-Based Intellectual Property Services in Indonesia The Ministry of Law and Human Rights formally launched electronic- primarily based mental property companies on twenty ninth December 2016. The electronic filing system allows IP consultants to file applications at any time online without being constrained by the restricted opening hours of the Intellectual Property Office. The OJK Issues New Circular Letter on Micro-insurance Products Circular Letter 9, while not within the type of an OJK regulation, now prescribes an in depth manner and strategy to the distribution and sale of micro-insurance products.
- They perform complicated checks on many parameters, improve the structure and logic of content, and conduct spell checks, among others.
- OJK Revokes Stimulus Package for Insurance Companies and Pension Funds On 31st August 2015, the Financial Services Authority issued several round letters as a stimulus coverage bundle to minimise the detrimental results of unstable world financial conditions on the insurance coverage and pension fund enterprise sector.
- Indonesia Omnibus Bill – Potential Changes to the Immigration Law The Indonesian House of Representatives just lately passed the Omnibus Bill on Job Creation (the “Omnibus Bill”).
- A Look at New Requirements for Pharmaceutical/Healthcare Companies on Sponsorship On eighth November 2016, the Minister of Health issued Regulation No. fifty eight of 2016 on Sponsorship for Healthcare Professionals (“Regulation 58”), which took effect on 29th November 2016.
- Companies in Indonesia are required to register employees in the Indonesian government’s employment social safety programmes.
- The Legal Profession Bill, which was launched in Parliament on 1 Nov 2021, proposes to introduce a framework for conditional fee agreements (“CFAs”) to be entered into between legal professionals and their purchasers in chosen proceedings.
Protection of Privacy in Indonesia Article 28 is taken into account the premise for extra particular information privateness legislation. However, there is not a specific legislation in Indonesia that regulates respect for private and household life. As of the time of this writing, essentially the most relevant regulations for the safety of privacy are associated to private data safety. Foreign Investment in Indonesian Real Estate Indonesia’s Agrarian Law provides that foreigners can only purchase a right to make use of title for land in the occasion that they reside in Indonesia. This update takes stock of the current legal framework governing international investment in Indonesian actual property and provides an overview of the anticipated challenges. Compliance Road Map for Companies in Indonesia Compliance is an important issue for overseas funding companies doing enterprise in Indonesia.
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To learn more about our providers and get the most recent legal insights from throughout the Middle East and North Africa area, click on on the link under. This edition of our Luxembourg Legal Update covers, amongst different subjects, Bill N° 6398 on the modification of the Insurance Sector Law and the Grand Ducal Regulation of 14 December on the model new necessary procedure for the submitting of financial information with the Luxembourg register of commerce. This edition of our Luxembourg Legal Update covers, amongst other subjects, the CSSF Annual Activity Report for 2014 and the Prospectus Law, and a case law on the limitation of liability clause for banks. This version 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 other matters, the Law of 11 October 2016 on the reform of the parental leave, the Law of 23 July 2016 on the new type of simplified S.à.r.l.
BKPM Stops Issuing Licenses On twenty first June, the government issued Regulation No. 24 of 2018 on Electronic Integrated Business Licensing Services. As a consequence, the BKPM will briefly suspend the processing and issuing of licenses and can 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 world pandemic has taken a toll on the Indonesian financial system, underlining the need for financial institutions to have sufficient liquidity in the face of uncertain occasions. New Developments in Indonesian Immigration Policy On September eleven, 2020, the Indonesian Government enacted a new regulation that introduces a number of modifications to the immigration regime that have an result on foreigners, Indonesians and the procurement of travel documents. Sign up for the GBG Indonesia Quarterly Business Intelligence Report for the most recent news on your sector.
Indonesia Omnibus Law – Changes to the Company Law Indonesia’s carefully watched omnibus jobs creation invoice just lately turned regulation. The stated aim of the Omnibus Law is to bolster investment and create jobs by streamlining rules and simplifying the licensing course of to enhance the convenience of doing business in Indonesia. Indonesian Omnibus Bill – Changes to Labor-Related Sectors The Indonesian House of Representatives just lately handed the Omnibus Bill on Job Creation (the “Omnibus Bill”).
Employee Data Privacy in Indonesia The Indonesian Minister of Communication and Informatics comparatively lately issued MOCI Regulation No. 20 of 2016 relating to the Protection of Personal Data in Electronic Systems , which stipulates the protections afforded to non-public information stored in an electronic system. Background Checks Under Indonesian Employment Law Employers in Indonesia regularly perform background checks on candidates. The contents of Law Update usually are not intended to be an various choice to specific legal advice on any individual matters. No part of this publication could also be reproduced, distributed, or transmitted in any type or by any means, including photocopying, recording, or other digital or mechanical methods, without the prior written permission of the publisher, aside from particular person use and other non-commercial uses permitted by copyright regulation. This version of our Luxembourg Legal Update covers, amongst other subjects, the Law 17 December 2010 on Undertakings for Collective Investments and the new judicial procedures concerning public contracts. This edition of our Luxembourg Legal Update covers, amongst different topics, the Law of 28 October 2011 on the implementation of the credit rating company regulation, the Law of two September 2011 on business licenses and the Law of 28 October 2011 on remuneration insurance policies within the Financial Sector.