Real Estate Legal Update

Background checks usually are not expressly regulated by Indonesian employment legal guidelines, and sure background checks are subject to the consent of the applicant in practice. Foreign Investment Restrictions Restrictions on overseas shareholders in Indonesia are set out within the Negative Investment List contained in Presidential Regulation No. 39 of 2014 outlining the listing of business fields that are closed and business fields which might be open with requirements for funding. Government to Issue Regulation to Re-order or Revoke IUPs For the past 5 years, the Ministry of Energy and Mineral Resources has sought to tidy up historic anomalies in the issuance of mining enterprise permits . Against this background, it has been recently floated in the media that the MEMR might soon issue a regulation to kind out problematic IUPs. Regulation 85 introduces the concept of Bonded Logistics Centres as one kind of Bonded Storage Places in Indonesia. OJK …