news & insights - Gaffar & Co. Law

Reporting Obligation in Offshore Loan

October 28, 2022

“Offshore Loans must be reported to Bank Indonesia.” In regard to supporting and/or expanding a business, some entrepreneurs borrow funds from abroad to cover the costs they need. The borrowing of funds from abroad is included in the activities of Foreign Exchange Traffic, so it needs to be reported to the competent authority, which is Bank Indonesia. This Offshore Loan is regulated in Bank Indonesia Regulation Number 21/2/PBI/2019 concerning Reporting

Conducting an Investment Realization Report (LKPM) Through OSS Risk Based Approach

September 28, 2022

“Business Actors must do LKPM Report in the stipulated reporting period. Since the second quarter of 2022, LKPM reporting is no longer through the link https://lkpmonline.bkpm.go.id/ or SPIPISE, but directly through the OSS Risk Based Approach system in the reporting section, where data submission to make LKPM reports is done through OSS.” To run a business, Business Actors certainly need capital. At the beginning of the establishment of a company,

Legal Due Diligence: What Is It and What Is It for?

September 21, 2022

“In practice, legal due diligence is necessary for multiple reasons, e.g., provide information related to a certain transaction or to be provided to an outside party. Therefore, it is recommended for a company to gather understanding as to the necessity of a legal due diligence.” Based on Professional Standards of Capital Market Legal Consultant Association (Standar Profesi Himpunan Konsultan Hukum Pasar Modal), legal due diligence is defined as a thorough

The Legal Aspects in the Electronic Signature

September 8, 2022

“An Electronic Signature must meet some requirements to have the same legal force as a Manual Signature.” Nowadays, almost everything can be done online through the internet, including transactions and correspondence. Therefore, an Electronic Signature (“E-Signature”) is needed to support and accommodate the online transactions and correspondence which need an online approval from the person to the documents and/or its authenticity. E-Signature is stipulated in Law No. 11 of 2008

Highlight the Limited LDD in Obtaining Payment Service Provider (PJP) License

September 1, 2022

Author: Vania Aqilla Cahyaningrum with Felicia Cindy Hanubrata “The Institutional aspect of a legal entity is a crucial prerequisite in obtaining PJP licensing from Bank Indonesia; thus, it necessitates a thorough examination for the correctness and completeness through Legal Due Diligence (LDD).” Payment Service Providers (“PJP”) is stipulated in Bank Indonesia Regulation Number 23/6/PBI/2021 (“PBI 23/2021”). PJP are Bank or Non-Bank Institutions that provide services to facilitate payment transactions to

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Reporting Obligation in Offshore Loan

Conducting an Investment Realization Report (LKPM) Through OSS Risk Based Approach

Legal Due Diligence: What Is It and What Is It for?

The Legal Aspects in the Electronic Signature

Highlight the Limited LDD in Obtaining Payment Service Provider (PJP) License