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This study aims to analyze the development of limited liability companies (LLCs) following the enactment of Law Number 6 of 2023, which ratifies Government Regulation in Lieu of Law Number 2 of 2022 on Job Creation, and to explore the concept of The Private Individual Limited Company in Indonesia. The research employs a qualitative methodology, using a normative legal approach. The findings indicate that the Job Creation Law introduced a new legal entity, The Private Individual Limited Company, and altered the conventional paradigm of LLCs. Previously, LLCs were understood as capital partnerships requiring at least two founders, formed through an agreement. However, under the new law, LLCs can now be established by a single individual, provided the company qualifies as a micro, small, or medium enterprise (MSME). The concept of The Private Individual Limited Company allows a single person to establish an LLC, expanding the traditional understanding of LLCs as partnerships formed through agreements. However, this concept of single-person LLCs is not entirely new in Indonesia. Before the Job Creation Law, the Company Law (PT Law) already permitted such exceptions, allowing LLCs to be established by one person if the companys shares were wholly owned by the state, state-owned enterprises, or regional government-owned enterprises.

The limited liability company (LLC) following the enactment of the Job Creation Law has introduced a new legal entity.This change has shifted the paradigm of LLCs, which were previously understood as capital partnerships requiring at least two founders.Now, an LLC can also be established by a single individual, provided it meets the criteria for micro, small, and medium enterprises (MSMEs), thereby constituting an ILLC.The concept of the Individual Limited Liability Company in Indonesia allows a single founder to establish an LLC, expanding the definition of an LLC from being solely a capital partnership based on an agreement.However, the idea of forming an LLC by a single individual is not entirely new in Indonesia.Before the enactment of the Job Creation Law, the LLC law provided exceptions that allowed LLCs to be established by one individual for entities where all shares were owned by the state, state-owned enterprises, or regional-owned enterprises.

The study suggests that further research could explore the impact of the Job Creation Law on the growth and competitiveness of micro, small, and medium enterprises (MSMEs) in Indonesia. Additionally, an analysis of the challenges faced by MSME operators when applying for loans from banks, particularly those using the Individual Limited Liability Company (ILLC) structure, would be beneficial. Furthermore, examining the effectiveness of government outreach programs in disseminating information about the new legal products established by the government, such as the ILLC, and their implications for banking and business financing could provide valuable insights. These research directions would contribute to a deeper understanding of the practical implications of the Job Creation Law and its impact on the Indonesian economy.

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