“As one of the important organs in the Limited Liability Company (a PT/Perseroan Terbatas), Law No.40 of 2007 concerning Limited Liability Company (“UU PT”) regulates the authority, the requirement and procedure also the clause about circular resolution.” Limited Liability Company in Indonesia has three different important organs that operate its functions; Board of Directors, Board of Commissioners, and General Meeting of Shareholders (“GMS”). However, unlike the first two, GMS is
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“Representative Office obliged to submit the activity report to the BKPM.” In Indonesia, the term representative office refers to an office lead by a chief of representative appointed by a foreign company outside of Indonesia as its representative in Indonesia, however in details it is actually further divided into four, which are General Representative Office / KPPA (Kantor Perwakilan Perusahaan Asing), Trade Representative Office / KP3A (Kantor Perwakilan Perdagangan Asing),
“Indonesia Government regulates beneficial ownership principle in some regulations to create legal certainty. The regulations mentioned about the definition, limitation, also sanction for incompliance.” According to The Financial Action Task Force (FATF), beneficial owner refers to the natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a
“The Ministry of Communication and Information issued Government Regulation No. 71 of 2019 on Electronic System and Transaction Operation (“PP 71/2019”) which made some crucial changes regarding the mandatory registration for both public and private sector, data centre, and right to be forgotten. PSE (Penyelenggara Sistem Elektronik) or Electronic System Provider refers to every person, state agency, business entity, and public in general which provide, manage and/or operate electronic system
“OSS Version 1.1 improves the system including the ability to process water location permit and ocean location permit, register KPPA (general representative office), revocation of license for a non-liquidation reason, arrange issuance branch office administration registration, submit LKPM, and arrange business license for Merger. The new version will be implemented by 11 November 2019.” In June 2018, the Government launched an integrated permits processing system called Online Single Submission (OSS)