National Economic Council to host Bali family office summit in July
Bali newsBali5 min read
The National Economic Council DEN is organizing a family office summit in Bali this July. DEN Chairman Luhut Binsar Pandjaitan stated that the summit follows President Prabowo Subianto's directive to accelerate the legal framework for an International Financial Center in Indonesia. Luhut anticipates potential capital inflows of several hundred billion US dollars, emphasizing the need for institutional digitalization and rebuilding investor confidence to attract offshore wealth. To compete with established financial hubs, Jakarta is proposing zero-tax incentives on funds initially deposited in Indonesia, with taxes applied only when the capital is deployed into domestic development projects. The government is also considering the partial adoption of common law principles to provide legal certainty for investors, a shift from Indonesia's civil law tradition. The Bali summit will be a key platform to present these regulatory changes to global wealth managers and sovereign investors.
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