Other government institutions are expected to follow Indonesia in their latest move to request Beneficial Ownership Registers from all companies registered in the country. The Indonesian Ministry of Law & Human Rights has initiated enforcing Presidential Regulation No. 13 2018, which requires corporations to identify its beneficial owners for the following actions going forward:
Upon notifying incorporations.
Amendments to the company’s articles of association.
Any changes of Directors or commissioners.
The company’s notaries must obtain a written statement from the corporation confirming the validity of the submitted information in any way the company deems appropriate or convenient.