Blog Category: Legal Updates

New Regulation on Revenue Sharing Funds for Palm Oil Plantations in Indonesia

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The Indonesian government recently issued a regulation on revenue sharing funds for palm oil plantations, Government Regulation No. 38 of 2023 dated July 24, 2023, regarding Palm Oil Plantation Revenue Sharing Fund (“Palm Oil RSF”) (“GR 38/2023”). Before the enactment of GR 38/2023, only two types of revenue sharing funds were recognized under Minister of … New Regulation on Revenue Sharing Funds for Palm Oil Plantations in Indonesia

Indonesia’s Financial Sector Omnibus Law: Securities Crowdfunding

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In January 2023, Indonesia enacted Law No. 4 of 2023 on Financial Sector Development and Strengthening, or in Indonesian Pengembangan dan Penguatan Sektor Keuangan (PPSK), which is better known as the Financial Sector Omnibus Law, to regulate the country’s financial sector. Comprising 27 chapters and 341 articles and replacing or amending 17 laws, the Financial … Indonesia’s Financial Sector Omnibus Law: Securities Crowdfunding

Vessel-Owning JV Companies Must Have Indonesian Shipping Company as Majority Shareholder for Vessel Registration

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Following the enactment of the Omnibus Law (Law No. 11 of 2020 on Job Creation) on November 2, 2020, the Government of Indonesia issued various implementing government regulations to regulate a wide array of sectors, including the shipping sector. On February 2, 2021, the Government of Indonesia issued Government Regulation No. 31 of 2021 dated … Vessel-Owning JV Companies Must Have Indonesian Shipping Company as Majority Shareholder for Vessel Registration

GR 40/2023: Golden Visa and Other Amendments to Indonesian Immigration System

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The Indonesian Government recently introduced changes to the country’s immigration system aimed at supporting post-Covid-19 economic development, attracting greater flows of investment, and helping to create an investment climate that attracts highly skilled talent. One of the notable highlights is the introduction of the so-called golden visa targeted at high-quality foreign nationals while maintaining a … GR 40/2023: Golden Visa and Other Amendments to Indonesian Immigration System

Indonesia Renewable Energy Update: Overview of Carbon Trading for Power Plants

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Presidential Regulation No. 112 of 2022 on the Acceleration of Renewable Energy Development for Electricity Supply set in stone Indonesia’s energy transition strategy. Not long after that, at a G20 event, the Government of Indonesia declared its participation in Just Energy Transition Partnership as a platform to finance the decommissioning of Coal-Fired Power Plants. In … Indonesia Renewable Energy Update: Overview of Carbon Trading for Power Plants

Financial Technology – Indonesia

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SSEK Law Firm partner Winnie Yamashita Rolindrawan provides an in-depth overview of the fast-evolving fintech sector in Indonesia, including the licensing and marketing of fintech companies, in The Financial Technology Law Review. Fintech companies in Indonesia are regulated by Bank Indonesia (BI) and the Financial Services Authority (OJK), with each having its own scope of … Financial Technology – Indonesia

Indonesia Natural Resources Sector – New Requirements for Depositing Foreign Exchange Export Proceeds into Indonesian Financial System

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The President of Indonesia, Joko Widodo, recently enacted Government Regulation No. 36 of 2023 regarding Foreign Exchange Export Proceeds from the Business, Management, and/or Processing of Natural Resources (“GR 36”). GR 36 stipulates new requirements for exporters of natural resources to deposit their foreign exchange export proceeds (Devisa Hasil Ekspor dari Barang Ekspor Sumber Daya … Indonesia Natural Resources Sector – New Requirements for Depositing Foreign Exchange Export Proceeds into Indonesian Financial System

Shipping – Indonesia

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SSEK Law Firm partner Stephen Igor Warokka and associate Mutiara Kasih Ramadhani provide the latest information on port state control, marine casualties and owners’ liability, cargo claims, maritime liens and ship arrests, passenger claims, ship-owners’ income tax relief and the implications of Covid-19, environmental regulations and trade sanctions in Indonesia, in the Chambers and Partners … Shipping – Indonesia

Insurance and Reinsurance – Indonesia

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The Legal 500 Insurance & Reinsurance: Indonesia provides a pragmatic overview of the law and practice of insurance and reinsurance law in Indonesia. The guide provides information about the current issues affecting insurance and reinsurance in Indonesia and addresses topics such as contract regulation, licensing, penalties, policyholder protection, and alternative dispute resolution. Regulation of insurance … Insurance and Reinsurance – Indonesia

Cryptoassets & Blockchain – Indonesia

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Lexology Getting the Deal Through – Cryptoassets & Blockchain: Indonesia provides local insights into the legal and regulatory framework in Indonesia; use of cryptoassets for investment, financing, trading and payments; cryptocurrency mining; blockchain and other distributed ledger technologies; and recent trends. Legal framework for cryptoassets in Indonesia The crypto industry in Indonesia falls under the … Cryptoassets & Blockchain – Indonesia