BKPM Regulation No. 5 of 2019
The Investment Coordinating Board (Badan Koordinasi Penanaman Modal – “BKPM”) recently issued Regulation No. 5 of 2019 (“Reg No. 5/2019”) which came into effect on 29 July 2019. Reg No. 5/2019 amends BKPM Regulation No. 6 of 2018 on the Guidelines and Procedures for Licenses and Investment Facilities (“Reg No. 6/2018”) which in general confirms the divestment requirement which applies to PMA Companies and simplifies the requirements which apply to the foreign directors and commissioners of a PMA Company.
Written by Yohanes Masengi and Nadira, read about the details of the requirements in the link below.
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