By Michael S. Carl and Charvia Tjhai Indonesia has the largest economy in Southeast Asia, predicted to be the fifth-largest economy in the world by 2030, and is the fourth-most populous country in the world, with a young, energetic workforce and a large and growing middle class. Indonesia has made deregulating its economy a focus … Belt and Road: Indonesia
A franchise, under Indonesian regulations, is defined as a special right owned by an individual or a legal entity to a unique business system that has proven successful in selling goods and/or services, and can be used by another party based on a Franchise Agreement. Franchise Agreement A franchisor in Indonesia must deliver a draft … Franchise Agreements in Indonesia
The Indonesian government has introduced a new tariff regime for renewable energies. The new regime gives the Indonesian state power company, PT Perusahaan Listrik Negara (“PLN”), greater control over tariffs in the sector through business-to-business negotiations and benchmarking against the applicable Electricity Generation Basic Cost (Biaya Pokok Penyediaan Pembangkitan or “BPP”). The new tariff regime … Indonesia Introduces New Tariff Regime for Renewable Energies
Bank Indonesia (“BI”) has issued a long-anticipated regulation on e-money that stipulates a number of requirements and prohibitions that were previously unregulated. The new regulation, BI Regulation No. 20/6/PBI/2018 regarding Electronic Money (“BI Reg 20”), revokes all existing BI e-money regulations. E-Money Classification BI Reg 20 opens with an explicit classification of e-money based on … Bank Indonesia Sets New Limits for the Provision of E-Money
By Winnie Y. Rolindrawan The Indonesian government issued Law No. 33 of 2014 concerning Halal Product Assurance (the \"Halal Law‚Äù) in 2014. This was seen as an important piece of legislation, considering that Indonesia is home to the world\'s largest Muslim population and halal refers to what is permissible under Islamic law. The Halal Law … Questions Remain Around Halal Certification Compliance in Indonesia
With international coal sales prices rising, Indonesia’s Minister of Energy and Mineral Resources (“MEMR“) has taken a step to try and control the supply of coal for domestic power producers. The MEMR has enacted MEMR Decree No. 1395 K/30/MEM/2018 dated March 9, 2018 regarding Coal Sales Price for Power Generation for the Public Interest, as … Coal Prices for Domestic Power Producers in Indonesia
The Indonesian Supreme Court in December issued Circular Letter No. 1 Year 2017 regarding the Implementation of the 2017 Supreme Court Meeting as a Guideline for the Role of Indonesian Courts (“SEMA No. 1”). SEMA No. 1 is a 41-page document that contains new policies to be applied by courts in Indonesia when handling criminal, … Foreign Employees and Termination Benefits in Indonesia
Legal entities in Indonesia are now required to declare the identity of beneficial owners and provide information on their beneficial ownership, following the recent enactment of Presidential Regulation No. 13 of 2018 regarding the Implementation of the Principle on Recognizing Beneficial Ownership of Corporations in the Framework of the Prevention and Eradication of Money Laundering … Mandatory Disclosure of Beneficial Owners in Indonesia
Indonesia’s Minister of Energy and Mineral Resources (“MEMR“), after a long wait, has regulated abandonment and site restoration (“ASR“) activities, or post-operation activities, for the upstream oil and gas sector. MEMR Regulation No. 15 of 2018 regarding Post-Operation Activities in Upstream Oil and Gas Business Activities (“MEMR Reg. 15/2018“) came into effect on February 23, … MEMR Imposes New Abandonment and Site Restoration Obligations for Indonesian Upstream Oil and Gas Activities
Virtual currency, or cryptocurrency, has made its way to Indonesia and government agencies are working to regulate its use. But as Bitcoin, Ripple, Peercoin and other virtual currencies increasingly attract the interest of Indonesians for all kinds of reasons, there is no regulation in Indonesia that deals specifically with virtual currency, a gap regulators hope … Virtual Currency Is Here, So How Is Indonesia Going to Regulate It?
