The following Commercial practice note Produced in partnership with Assegaf Hamzah & Partners provides comprehensive and up to date legal information covering:
Updated in May 2019
The business environment
Forming a company
Financing a company
Opening a branch office and representative office
Opening a bank account
Utilising office space
Key employment laws
Contracting with third parties
Protecting key assets and employees
The Republic of Indonesia, a country with a population currently estimated at over 250 million, is the largest economy in Southeast Asia. As the centre of global economic power shifts to the East and the region grows in importance for the international economy, Indonesia is a strategic trade access point. A member state of the Association of Southeast Asian Nations (ASEAN), Indonesia further benefits from ASEAN’s commitment to broaden and deepen engagements with fellow member states to create a free trade zone, which could be seen from the efforts of ASEAN to rapidly enact and develop the ASEAN Economic Community.
Indonesia is the only Southeast Asian country that is a member of the G20 group of the world’s wealthiest nations. The country is rich in natural resources, acquiring much of its wealth from petroleum and natural gas and other mining activities. Agriculture also plays an important role in the economy. Indonesia is projected to be one of the top ten economies in the world by 2030.
This is in line with its national long-term development plan which spans from 2005 to 2025. The strategic twenty-year plan is broken up into four, five-year phases,
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