- Categorizes crowdfunding activities that are undertaken via information technologies as financial-services activities within the capital-market sector. As a result any organizers engaging said activities will be required to obtain business licenses from the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) and to register as providers of electronic services with the Ministry of Telecommunication and Informatics.
- However, the following activities are exempted from the public offerings category, as described under Law No. 8 of 1995 on the Capital Market: 1) Offerings that are undertaken through organizers that have secured OJK licenses; 2) Offerings are made within a maximum period of 12 months; and 3) Offerings of a total value that do not exceed IDR 10 billion.
- Any organizers that intend to engage in any business activities within this sector must be established as either limited liability companies or cooperatives. In addition, businesses are allowed to enter into cooperation arrangements with financial services organizers through information technologies.
- If businesses intend to individually engage in the establishment of business entities, then they must meet a minimum issued and paid-up capital requirement of IDR 2.5 billion when submitting their license applications (for limited liability companies).
- This regulation has been in force since 11 December 2020 and can be accessed here.
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