On 1 April 2020, BKPM Regulation No. 1 of 2020 was enacted to guide the electronic integrated business licensing services via the OSS system. It details requirements for business licenses, investment values for foreign investments, and outlines responsibilities for business actors, including NIB registration, project classification, and fulfillment of commitments for various permits and licenses.
This article reviews Bank Indonesia Regulation No. 16/2014 on non-bank foreign exchange and money remittance activities, including licensing requirements, compliance obligations, and measures against money laundering and terrorism financing.
Background On 3 September 2015, Head of Capital Investment Coordinating Board of Indonesia has issued the Head of Capital Investment Coordinating Board Regulation Number 13 of 2015 on the Procedure of Applying for Facilities on Reduction of Entity Income Tax as lastly...
‘Circular No. 15/27/DPNP’) regulates provisions on requirements for commercial banks to undertake business activities in foreign currency. The provisions in Circular No. 15/27/DPNP start to apply on 19 July 2013. Therefore, Circular Number 28/4/UPPB of 7 September...
Background In order to increase investment activities in Indonesia as well as the implementation of Indonesia’s commitment with respect to the Association of Southeast Asian Nations/ASEAN Economic Community (AEC), it is necessary to rework the provisions on the list...
Background BKPM held 2 (two) types of services on investment activity for the investor in the territory of Indonesia, which is licensing service and non-licensing service. Based on Article 1 paragraph 6 of Peraturan Kepala BKPM No.12 year 2009 (“Perka BKPM 12/2009”),...
Background Mechanism of the investment licenses that is applied by BKPM to the investor covers provisions concerning business sector and business entity that could be managed by the investor in the territory of Indonesia. Principally, provisions on the mechanism of...