Legal Alert | New Rules for Employing Expatriates in Indonesia

28 June 2018

On 26 March 2018, the President of Republic of Indonesia issued the Presidential Regulation No. 20 of 2018 on the Utilisation of Expatriates (“PR 20/2018”). This regulation revokes the Presidential Regulation No. 72 of 2014 on the Utilisation of Expatriate and Application of Education and Training of Manpower Companion (“PR 72/2014”). The significant changes under […]

Legal Alert | Identification and Reporting of Beneficial Owners Now Mandatory

28 June 2018

Effective 5 March 2018, each entity in Indonesia must identify and report its beneficial owner(s) to Authorized Institutions to combat money laundering and terrorism funding. This new requirement was stipulated in President Regulation No. 13 of 2018 concerning Implementation of the Principle of Knowing Beneficial Owner of Corporations related to the Prevention and Eradication of […]

Legal Alert | Key Amendments to the E-money Regulation

28 June 2018

On 3 May 2018, the Bank of Indonesia (“BI”) issued a new regulation No. 20/6/PBI/2018 (“PBI 20/2018”) on electronic money or e-money, which repealed the previous e-money regulations. E-money regulations was first issued in 2009 and subsequently amended in 2014 and 2016. E-money is defined as a payment instrument that is (a) issued based on […]