Liquidation, or the winding up of a company, is a process during which a company’s assets are seized and realized – that is, converted into cash. This money is typically then used to pay off the company’s debts and liabilities.
The process ensures a fair distribution of a company’s assets between its creditors, members, and shareholders, and results in the termination of the company’s existence once all debts and liabilities have been paid.
Pursuant to Article 142 par. (1) of Law no. 40 Year 2007 regarding Limited Liability Law, liquidation may happen due to:
A decision made in a General Meeting of Shareholders (“GMS”);…
The economic and political impact of controlling personal data created the need to regulate organisations and individuals involved in collecting, storing, processing and transferring such data.
Jurisdictions across the world have enacted data protection laws with extra-territorial applications. Indonesia is no exception in adapting and responding to this global phenomenon in this 4th Industrial Revolution era. The largest South East Asian economy will have its own personal data protection law (Undang-Undang Perlindungan Data Pribadi) that adopts EU GDPR approach. Under the new Indonesian personal…
Schinder has entered into official collaboration with EP Legal, a reputable Vietnamese law firm with headquarters in Ho Chi Minh and offices in Ha Noi and London, UK.
EP Legal is the first Vietnamese law firm which is specialized in oil & gas Industry with the foremost legal practice to support clients’ needs in the energy industry In Vietnam. EP Legal also focuses on infrastructure and manufacturing industry. They have substantial experience in delivering legal services in support of local Vietnamese and international commercial transactions, incorporations, mergers & acquisitions, maritime…
Domestic and international franchise businesses have expanded rapidly as a way of investing in Indonesia. In this country, it is nearly impossible for you to go outside without seeing a franchise business, be it in F&B (McDonald’s, KFC, Starbucks Coffee), retail (Alfamart, Indomart), or beauty and personal care (Haircode, Kaizen).
However, the regulatory system around franchising is extensive and complex, which poses a challenge for business actors who want to grow through this route.
The following are some of the regulations regarding franchising in Indonesia:
Companies providing outsourcing services (the “Outsourcing Company”) shall comply with the provisions of the Ministry of Manpower Regulation No. 11 of 2019 on Requirements of Partial Work Division to Other Company (the “Regulation”), the newest regulation on outsourcing arrangements. The Regulation requires that the following are produced or amended:
The Outsourcing Agreement (the “Agreement”) needs to clearly state the following additional clauses:
1. Description of the type(s) of works to be performed by the workers/employees of the Outsourcing Company;
Job Positions Allowed in Indonesia for Foreign Workers
Companies who are looking to hire foreign workers should refer themselves to the Ministry of Manpower Regulation No. 228 of 2019 regarding the Specific Positions Open for Foreign Workers (the “Regulation”)
The Regulation specifically addresses job titles that are open for foreign workers in 18 industry sectors, with all 18 industry sectors listed in the table below:
Indonesia’s Minister of Energy and Mineral Resources has recently relaxed regulations on changes in investment structures within the mineral and coal mining sector. In the past, changes such as those in investments, financing source, investment status (Foreign Investment or Domestic Investment), Articles of Association, could only be performed after obtaining ministerial approval.1
Now, through the Regulation of the Minister of Energy and Mineral Resources No. 11/2018, any increase in authorized capital, subscribed capital, and paid-up
Developer and Buyer Guide for Executing the Engagement Agreement for Sale and Purchase of Land and Building (“PPJB”)
The Ministry of Public Works and Housing has enacted Regulation No.11/PRT/M/2019 (the “Regulation”) regarding PPJB on 18 July 2019. The Regulation is applicable to sale and purchase transactions of residential real estate and properties, including private houses, private commercial houses, cluster houses, and apartment units. In the PPJB context, the term “Developer” refers to both an individual and legal entity.
The Regulation regulates PPJB transactions, which are usually entered by …
The insurance industry in Indonesia began during the Dutch colonial period, presenting itself as one of the many mechanisms to secure the Dutch’s trading activities. Indonesians are vaguely familiar with the benefits of insuring themselves against loss, damage, illness or death – ultimately, this lack of awareness materializes in the low adoption rates of insurance coverage.
The Jakarta Post reported that only 1.7 % (one point seven percent) of the population have insurance, and as a result, Schinder Law Firm sees a substantial opportunity for the insurance business to grow rapidly in Indonesia…
The European Parliament and the Council of European Union enacted Regulation 2016/679 on 25 May 2018, known as General Data Protection Regulation (“GDPR”). The GDPR provides a set of standardized data protection laws, which are intended to make it easier for consumers worldwide to understand how their data is being used.
GDPR has extra-territorial application outside European Union (“EU”) member states, and therefore affects data processing activities of controllers in other countries including Indonesia, where goods and services …