Month: September 2019

Types of Financial Technology Industry in Indonesia

“The term Fintech has been confirmed to be financial services that are innovative, tech-based, and beneficial to the currently existing financial services and the public in general.” Fintech is an acronym of Financial Technology. Technically speaking, the term encompasses any technology that seeks to improve financial services, such as mobile payments, crowdfunding platforms, and many […]

Equity Crowdfunding Without Initial Public Offerings?

“Please note that Public Offerings from Equity Crowdfunding process will not consider as Public Offerings as defined in Law No. 8 of 1995 on Capital Market if it is matched with the criteria as mentioned in Regulation Number 37/POJK.04/2018 on Information Technology Based Crowdfunding Services via Public Offerings (Equity Crowdfunding).” Information Technology (IT) development has […]

Latest Update on Small Claim Court Settlement Procedure

“The most significant change is could be seen on Article 1 (1) of Supreme Court Regulation 4/2019 by increasing the maximum amount of the claim to IDR 500,000,000 (five hundred million rupiahs) where it is previously set at IDR 200,000,000 (two hundred million rupiahs)” On 20 August 2019, the Supreme Court issued Regulation No. 4 […]

Latest Update on Investor’s Stay Permit Regulation

“BKPM and the Immigration confirmed that there is no longer requires the BKPM Recommendation in applying for Investor Visa. However, the Investor should be stated as a shareholder of the Company with a minimum of shares IDR 1,125,000,000 (one billion one hundred and twenty-five million Rupiah) and if the Investor also having a position as […]

Update on Outsourcing Company Regulation

“The provision to register within 30 working days since the signing of the outsourcing agreement is repealed” Since the issuance of Government Regulation No. 24 of 2018, gradually regulations related to license issuance are integrated to the OSS system, including provisions in regards to diversion of work implementation to another company that provides worker services […]