On 8 October 2015, the Head of Indonesian Investment Coordinating Board (“BKPM”) issued a set of regulations, one of which is the Head of BKPM Regulation No. 14 of 2015 on Guidelines and Procedures of Investment under In-principle License (“BKPM Reg. 14/2015”) which has been amended by the Head of BKPM Regulation No. 6 of 2016 on Amendment to BKPM Reg. 14/2015 (“BKPM Reg. 6”) which came into effect on 6 June 2016.
The Government of the Republic of Indonesia has finally issued the Presidential Regulation No. 44 of 2016 regarding the List of Business Fields Which Are Either Entirely Closed or Conditionally Open to Foreign Investment (“New Negative List”) which revokes the Presidential Regulation No. 39 of 2014 regarding the List of Business Fields Which Are Either Entirely Closed or Conditionally Open to Foreign Investment (“2014 Negative List”).
On 21 March 2016, the Indonesian Minister of Agrarian Affairs and Spatial Layout/Head of National Land Agency issued the Ministerial Regulation No. 13 of 2016 on the Procedures for Granting, Relinquishing or Transferring Ownership of Residential Property for Foreign Citizens Domiciled in Indonesia (“MR 13/2016”), as an implementing regulation for the Government Regulation No. 103 of 2015 on the Ownership of Residential Property for Foreign Citizens Domiciled in Indonesia (“GR 103/2016”).
To improve the ease of doing business and for the purpose of acceleration of the national development and also taking into account the growth of start-up business, the Government of the Republic of Indonesia has promulgated the Government Regulation No. 7 of 2016 regarding Changes to Authorized Capital of Limited Liability Companies (“GR 7/2016”), which regulation is effective as of 21 March 2016.
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