Regulatory Update.

June 2021

Government Regulation No. 34 of 2021 concerning Foreign Workers Utilization

One of the many government regulations issued as the implementing regulation to Law Number 11 of 2020 concerning Job Creation Law. More specifically, with regard to the employment of foreign workers in Indonesia, is now being regulated under Government Regulation...

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September 2021

Regulation of the Minister of Communication and Informatics Number 3 of 2021

Regulation of the Minister of Communication and Information Technology of the Republic of Indonesia Number 3 of 2021 (“PERMEN KOMINFO 3/2021”) discusses the Determination of Standards for Business Activities and Products in the...

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September 2021

Government Regulation No. 37 of 2021 The Implementation of the Job Loss Security Program

One of the government regulations which was issued as the implementing regulations to Law Number 11 of 2020 concerning the Job Creation Law (Specifically on social security program in Indonesia which was regulated under Government Regulation No. 37 of..

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Oktober 2021

Minister of Law and Human Rights Regulation Number 25 of 2021 concerning The Procedure for Registration, Amendment, and Elimination of Fiduciary

On 13 July 2021, the Government issued Minister of Law and Human Rights Regulation No. 25 of 2021 on Procedures for Registration, Amendment, and Elimination of Fiduciary (“MOLHR Reg No. 25/2021”) which was...

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Oktober 2021

Key point of President Regulation No. 10 of 2021 concerning the Investment Business Sector

On February 2, 2021, the Government of Indonesia has issued President Regulation No. 10 of 2021 concerning the Investment Business Sector as amended by the President Regulation No. 49 of 2021 concerning...

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Oktober 2021

Key point Government Regulation of the Republic of Indonesia No. 5/2021 concerning the Implementation of Risk-Based Business Licensing

On February 2, 2021, the Government enacted Government Regulation No. 5/2021 of the Republic of Indonesia concerning the Implementation of Risk-Based Business Licensing ("GR 5/2021") as one of the implementing regulation of Law...

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Maret 2022

Government Regulation No. 44 of 2021 concerning the Implementation of the Prohibition against Monopolistic Practices and Unfair Business Competition

Following the promulgation of Law No. 11 of 2020 concerning Job Creation (“Job Creation Law”) which has modified several number of laws, including that of relating to business competition as regulated in Law No. 5 of 1999 concerning the Prohibition against Monopolistic Practices and Unfair Business...

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Maret 2022

Key point of Indonesia Investment Coordinating Board Regulation No. 3 Of 2021 concerning the Electronic Integrated Risk-Based Business Licensing System

On April 1, 2021, the Investment Coordinating Board (“BKPM”) has promulgated BKPM Regulation No. 3 of 2021 concerning the Electronically Integrated Risk-Based Business Licensing System (“PerBKPM 3/2021”), which came into force on 2 June 2021 as one of the implementing regulations of Government Regulation no. 5 of 2021 concerning...

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April 2022

The Financial Services Authority ("OJK") Rule Number 22/POJK.04/2021 on Multiple Voting Shares

On 1st of December 2021, the Financial Service Authority (“OJK”) issued Rule Number 22/POJK.04/2021 concerning the Implementation of Shares Classification with Multiple Voting Rights by the Entity with Innovation and High Growth Rate that Exercises the Public Offering of Equity Security in a Form of Shares (“POJK 22/2021”)...

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July 2022

The implementation of the regulations Law No. 11 of 2020 concerning Job Creation Law for toll roads in Indonesia

One of the many government regulations issued as the implementing regulations to Law No. 11 of 2020 concerning Job Creation Law, specifically on toll roads in Indonesia which has regulated under Government Regulation No. 17 of 2021 concerning Fourth Amendment to...

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July 2022

The Job Creation Law (“Law 11/2020”) amends various laws in various sectors, one of which concerning the monopolistic practices and unfair business competition

Law No. 11 of 2020 concerning the Job Creation Law (“Law 11/2020”) amends various laws in various sectors, one of which concerning the monopolistic practices and unfair business competition. These changes have also been supplemented by...

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July 2022

The implementation of Permenaker 5/2021 for JKK (Jaminan Kecelakaan Kerja), JKM (Jaminan Kematian), JHT (Jaminan Hari Tua)

(Jaminan Kecelakaan Kerja or “JKK”), Death Benefit (Jaminan Kematian or “JKM”) and Old-Age Insurance (Jaminan Hari Tua or “JHT”) in Indonesia is mainly regulated by the Regulation of the Government of the Republic Indonesia No. 44 of 2015. Further provisions are regulated under...

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August 2022

The Financial Services Authority (OJK) Issued New Regulation No. 10/POJK.05/2022 for Information Technology – Based Co Financing Services

On July 4, 2022, the Financial Services Authority (OJK) has issued a much-anticipated new regulation on P2P lending in Indonesia under OJK Regulation No. 10/POJK.05/2022 of 2022 on Information Technology-Based Co-Financing Services...

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September 2022

The Financial Services Authority (OJK) Issued New Regulation No. 10/POJK.05/2022 for Information Technology – Based Co Financing Services

Tumbuan and Partners attended the event held by the Ministry of Tourism and Creative Economy (Kementerian Pariwisata dan Ekonomi Kreatif) on August 2, 2022 with the following topic: Socialization of Government Regulation No. 24 of 2022 concerning...

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September 2022

The Additional Reporting Parties In The Prevention and Eradication of Crimes Money Laundering

To boost the investment and ease of doing business in Indonesia within technology-based financial services, the Government of Indonesia has introduced additional reporting parties classified as Financial Service Providers pursuant to Government Regulation No. 61 of 2021 concerning the Amendments to Government Regulation...

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