Updated Procedures for Company Establishment and Amendments: Annual Reporting Now Mandatory for Companies, Non-Compliance Subject to Restricted SABH Access

In 2021, the Minister of Law and Human Rights introduced Regulation No. 21 of 2021 (“Regulation 21/2021”) on Requirements and Procedures for the Registration of the Establishment, Amendment and Dissolution of Legal Entities in the Form of Limited-Liability Companies (Perseroan Terbatas – “Companies”). As its title suggests, this framework sets out various requirements and procedures that are applicable to capital-partnership Companies and individual Companies whenever they register their establishment, amend their articles of association (“AoA”) and company data, and initiate their dissolution.[1]