Indonesia

Indonesia

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.

Nature of measure:
  • Liberalization
Type:
  • Entry and establishment (Ownership and control)
Industry:
  • Services (Financial and insurance activities)
Inward FDI:
No
Outward FDI:
No
Sources: