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.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



Regulation 28/POJK.05/2014 (in Bahasa Indonesia):
http://www.ojk.go.id/peraturan-ojk-tentang-perizinan-usaha-dan-kelembagaan-perusahaan-pembiayaan

Secondary Source:
http://blog.ssek.com/wp-content/uploads/2015/02/Legal-Alert_January-2015.pdf


Inception date: 19 Nov 2014 | Removal date: open ended

Labour market access

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

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
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Inception date: 19 Nov 2014 | Removal date: open ended

Labour market access

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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