- The Minister of Villages, Development of Disadvantaged Regions, and Transmigration ("Minister") has decided to set forth the applicable forms for the implementation of investments and procedures for the issuance of investment permits in transmigration areas through the issuance of No. 19 of 2024 ("Regulation 19/2024"), which has been in force since 01 August 2024. Upon its enforcement, Regulation 19/2024 has now simultaneously repealed and replaced the following frameworks: 1) Regulation of the Minister No. 13 of 2016, as amended by Regulation of the Minister No. 12 of 2021 (collectively referred to as "Regulation 13/2016"); and 2) Regulation of the Minister No. 13 of 2019 ("Regulation 13/2019").
- As the title suggests, Regulation 19/2024 outlines the applicable mechanism for investment in transmigration areas by business entities, in which such investment takes form of the following: 1) Development of main business pattern; 2) Development of area facilities; and 3) Transmigrant migration services.
- In terms for the procedures for the issuance investment permits, the abovesaid business entities that wish to invest in transmigration areas shall be based on Transmigration Implementation Permit (Izin Pelaksanaan Transmigrasi – "IPT") issued by the Minister, in which such permit shall be granted to business with or without rights for land utilization. In this regard, the aforesaid IPT shall be issued for five years and extendable, in which relevant businesses that wish to extend issued IPT must submit an application for such permit extension in no later than six months prior to the expiration date of said IPT.
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