We have an important reminder for all Investor KITAS and KITAP holders.
In November 2023, the Indonesian government announced significant changes to the minimum investment amount for individuals looking to apply for or maintain their Investor KITAS and KITAP. Please see the announcement on our blog here.
The deadline to make the required adjustments—31 December 2024—is fast approaching. We’re sending this reminder to all our clients to make changes before the deadline or risk having their Investor KITAS and KITAP cancelled.
Adjustments To Be Made Include:
Increased investment amount: The minimum investment required for an Investor KITAS is now 10 billion Indonesian rupiah (IDR) per person, up from 1 billion IDR, and IDR 15 billion for an Investor KITAP. This change applies to both new and existing companies.
Conversion to Working KITAS: Investors and foreign directors who don’t meet the new requirements can convert their KITAS to a Working KITAS before the new regulations take effect.
Application Process: The application process for Investor KITAS has changed to reflect the new regulations.
Deadline for Existing Companies: Companies with an existing Investor KITAS have until 31 December 2024 to adjust their share capital and company documents to comply with the new requirements.
The above applies to all new and existing Investor KITAS holders and applicants.
Action Required:
- Update your capital to meet the new requirement or
- Convert your KITAS type by December 31, 2024
⚠️IMPORTANT: Update Your Akta to Avoid KITAS Cancellation ⚠️
Updating your Akta typically takes approximately 2 weeks. To avoid any disruptions, please take immediate action to initiate the update process.
Please be advised that your Investor KITAS could be automatically cancelled if you fail to update your Akta to comply with the new regulations by December 31, 2024.
Further Assistance
We understand that the recent changes to the Investor KITAS and KITAP regulations may significantly impact your long-term plans in Indonesia. Our team is here to support you during this transition.
Please don’t hesitate to reach out to us during office hours with any questions or concerns you may have regarding the new regulations. We’re committed to helping you navigate these changes smoothly.
We look forward to assisting you.
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