The disclosure of beneficial ownership data by corporations is crucial in preventing corruption in licensing and procurement of goods/services, as well as in aiding case management. However, as of December 2022, only 38.47% of beneficial ownership data has been declared in Indonesia. To become a member of the Financial Action Task Force (FATF), the Indonesian government, through the Directorate General of General Legal Administration (Ditjen AHU) of the Ministry of Law and Human Rights (“MOLHR”), is intensively overhauling the beneficial ownership data.
Recently, the Directorate General of General Legal Administration of the MOLHR announced on its official website that corporations that have not reported their beneficial ownership data will be temporarily blocked from accessing the Legal Entity Administration System. To regain access, corporations are required to complete the beneficial ownership submission via the https://bo.ahu.go.id page and submit an application to unblock such access by emailing firstname.lastname@example.org along with evidence of reporting.
This is in line with Presidential Regulation No. 13 of 2018, which stipulates the submission of reports on beneficial ownership by corporations as a fundamental regulation in Indonesia. The public can also monitor the progress of beneficial ownership declarations and data transparency and see a list of corporations that still need to report their beneficial ownership data on the https://bo.ahu.go.id page.
If assistance is needed in submitting beneficial ownership data, Schinder Law Firm is one of the many corporate law firms in Indonesia that can help. Our professional civil lawyers and dispute lawyers will strive to understand your unique needs and concerns and develop creative, cost-effective ways to assist you. To learn more, please contact us at email@example.com to schedule a consultation and discuss how we can be of assistance.
Author: Dewi Susanti