Global Trade Alert
Global Trade Alert

Indonesia: Foreign employment restrictions in the finance industry

Announcement

19 Nov 2014

On 19 November 2014, the Indonesian Financial Services Authority (OJK) issued regulation 28/POJK.05/2014 allowing, under certain restrictions, for foreigners to work in financial institutions.

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Number of interventions

2

1 certainly harmful

0 likely harmful

1 liberalising

List of interventions

2 in force

Implementation date

19 Nov 2014

Revocation date:

No revocation date

Labour market access In force

Furthermore, the employment of foreigners has to be reported at least 30 days ahead to the Authority (art. 15(6)).

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Implementation date

19 Nov 2014

Revocation date:

No revocation date

Labour market access In force

With the new legislation, foreigners may be employed as consultants, advisors, or experts are ranked one position below the board of directors (art. 15(2) of the regulation).

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