Legal Smuggling of Share Ownership Using Nominee Arrangements Associated with a Violation of the Negative Investment Lists

DOI

10.2991/assehr.k.211203.016How to use a DOI?

Keywords

Investment; Legal smuggling; Negative list of investments; Nominee arrangement

Abstract

This paper analyzes whether or not there is legal smuggling in the nominee arrangement when it is associated with the negative investment list that applies in Indonesia. The normative law is used in this paper. The result is that the nominee arrangement is part of smuggling law against investment law. Moreover, if the nominee arrangement is carried out, it can potentially violate the negative investment list. The principle used in the nominee arrangement depends on the freedom principle of contract as stipulated in the Civil Code. An agreement on the freedom principle of contract must comply the requirements contained in the Civil Code, thus the agreement becomes valid. The practice of nominee arrangements must be managed through giving the strict sanctions, like administrative sanctions.

Copyright

© 2021 The Authors. Published by Atlantis Press SARL.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Dewi Nadya Maharani
AU  - Faisal Santiago
PY  - 2021
DA  - 2021/12/03
TI  - Legal Smuggling of Share Ownership Using Nominee Arrangements Associated with a Violation of the Negative Investment Lists
BT  - Proceedings of the 2nd International Conference on Business Law and Local Wisdom in Tourism (ICBLT 2021)
PB  - Atlantis Press
SP  - 70
EP  - 73
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.211203.016
DO  - 10.2991/assehr.k.211203.016
ID  - Maharani2021
ER  -