New Foreign Ownership Cap for Insurance Companies
20 Jan 2019
Through Government Regulation No. 3/2020, the government allowed foreign investors to own more than 80 percent of shares in locally-listed insurance companies. The rule also drops the requirement for a local partner, which, according to the old rule, had to be a locally-based entity wholly controlled by Indonesian citizens. The regulation is effective since 20 January 2020.
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Services (Financial and insurance activities)
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Sources:
