According to the OECD's definition, Residency by Investment and Citizenship by Investment schemes, often referred to as 'Golden Visa' and 'Golden Passport', are policies implemented by a country to grant residency or citizenship to foreign nationals through investment or by paying certain fees. In 2022, it is estimated that more than 60 countries have implemented such investment-based residency and citizenship...

On October 13, 2023, the Ministry of Finance of Indonesia issued Regulation No.96 of 2023 concerning Customs, Excise, and Tax Provisions on the Import and Export of Consignment Goods ("PMK 96/2023"), which effective from October 17, 2023. The issuance of PMK 96/2023 is a vital part of the Ministry of Finance's efforts to enhance its services by providing legal certainty and clear regulations regarding customs, excise, and tax provisions for...

Starting on 1 January 2024, the Branch Taxpayer Identification Number (NPWP Cabang) will be abolished, and according to Minister of Finance Regulation No. 112/PMK.03/2022 regarding NPWP for Individual Taxpayers, Corporate Taxpayers, and Government Institution Taxpayers (PMK 112/2022), the Branch NPWP will be replaced by the Identification Number of Business Activity (Nomor Identitas Tempat Kegiatan Usaha or NITKU).

The Domestic Component Level (Tingkat Komponen Dalam Negeri or TKDN) certification has become an essential element in the progress of industries in Indonesia. Business actors must take a crucial step of securing government assistance for TKDN certification. TKDN, represents the proportion of domestically produced components' value. This concept encompasses a wide array of products, spanning both goods and services, along...

On September 25, 2023, the President of the Republic of Indonesia, Joko Widodo, signed Presidential Regulation No.57 of 2023 regarding Mandatory Reporting of Job Vacancies, which repealed Presidential Decree No.4 of 1980 concerning Mandatory Reporting of Job Vacancies. This regulation was issued with the aim of improving the service of workforce placement within a unified labor market by ensuring the availability of accurate and suitable job vacancy information.

Welcome to Indonesia's Annual Data Protection Summit – a must-attend, free online event that focuses on safeguarding data security in Indonesia! Taking place on Thursday, 14 December, this summit is themed around 'Safeguarding The Effective Implementation of PDP Law: Public and Private Sectors Perspectives', featuring valuable insights from key exclusive industry sectors.

Welcome to Indonesia's Annual Data Protection Summit - a must-attend, free online event prioritizes the enhancement of data security in Indonesia. Taking place on Thursday, 14 December, with the theme 'Safeguarding The Effective Implementation of PDP Law: Public and Private Sectors Perspectives', featuring valuable insights from key exclusive industry sectors. Connect with industry leaders, experts, and professionals in the field of data protection. Whether you're looking to expand your knowledge, actively involved in data-related...

The Domestic Component Level (Tingkat Komponen Dalam Negeri or TKDN) certification has become a crucial factor in the development of industries in Indonesia. Government support for obtaining TKDN certification is a vital step that business actors need to take. Before delving further, it is essential to understand the concept of TKDN and why it plays a strategic role in the development of the domestic industry.

In the advancing digital era, safeguarding data and information has become a crucial challenge for organizations across various sectors. Cyber threats are evolving, and information breaches can have serious ramifications for both businesses and individuals. This is where ISO 27001:2013, the international standard for Information Security Management Systems (ISMS), plays a vital role in assisting organizations in effectively managing and protecting information.

Indonesia is one of the countries with a rapid growing retail sector. An essential component of this industry involves the retailing of various non-food, non-beverage, or tobacco-related items in supermarkets or department stores. In an effort to develop this sector while supporting micro and small enterprises (MSEs), the government has issued regulations and guidelines that govern partnerships in this retail trade.

In the realm of real estate development and financing, foreign entities have shown a growing interest in contributing to infrastructure development and investment in various countries, including Indonesia. One mechanism that has gained attention is the concept of foreign entities providing loans and holding mortgage rights, also known as "Hak Tanggungan" in Indonesian law. This practice has the potential to support the expansion of infrastructure...

In the advancing digital era, personal data protection has become a crucial concern for individuals and organizations worldwide. Indonesia is no exception, responding to this need with the enactment of Law No. 27 of 2022 on Personal Data Protection (PDP Law). One vital aspect addressed by this law is the retention of personal data. Data retention refers to the policies governing the storage and management of personal data by data controllers. This article will...

There is a big drinking culture in international arbitration. But what if you do not or cannot consume alcohol? Political pollsters seeking to measure is alcohol‐free. It is also customary for arbitration candidate popularity often ask what is known as 'the beer question': with which candidate would you rather have a beer? The answer is regarded as a barometer of likeability, authenticity and collegiality. As such, the beer question continues to be posed in the hiring context.

Starting from the 2022 tax year, income in the form of compensation received due to work or services rendered will be considered taxable income for the recipient. It may also be subject to taxation for the provider based on Law No.7 of 2021 concerning the Harmonization of Tax Regulations ("Law 7/2021"). Benefits in kind are a form of goods given to individuals or workers that does not involve cash payments. While companies generally provide salaries...

In August 2023, Indonesia ratified Financial Services Authority Regulation No.14 of 2023 concerning Carbon Trading Through Carbon Exchange ("POJK No.14/2023"). This opens up attractive investment opportunities for foreign nationals interested in participating in carbon market in the country. The regulations outlined below identify several opportunities for foreign investors interested...

KITAS Investor is an immigration product specifically designed for investors who make investments in companies in Indonesia. This document grants a limited stay permit to foreigners in Indonesia, and it is a part of the Indonesian government's efforts to enhance the investment climate in the country. Although KITAS stands for "Kartu Izin Tinggal Terbatas" (Limited Stay Permit Card), the Indonesian government no longer issues physical cards for this purpose. Instead, it is now commonly referred...

The Industrial Area plays an exceedingly strategic role as an industrial infrastructure in achieving spatial compatibility, industrial dispersion, and environmental sustainability. This is in accordance with the mandate of Article 106 of Law Number 3 of 2014 concerning Industry ("Law No.3/2014"), which imposes the obligation for new industries to be situated within the Industrial Area.

In recent years, the world has witnessed rapid developments in the financial sector, particularly with the emergence of cryptocurrencies. This phenomenon has profoundly transformed the global economic landscape and captured the attention of diverse stakeholders, ranging from professional investors to everyday internet users. Cryptocurrencies, such as Bitcoin, Ethereum, and numerous others, have become subjects of heated discussions and consistently dominate news and media dialogues.