Economic development in Indonesia which is experiencing growth with the presence of integrating foreign capital in the business sector, makes foreign investors who wants to carry out business activities in Indonesia wants overall ownership or control of the business being carried out.  These restrictions are regulated in Law Number 25 of 2007 concerning Investment, Law Number 40 of 2007 concerning Limited Liability Companies, and Burgelijk Wetboek (BW). The way to overcome these difficulties, foreign parties usually borrow names (nominee) in share ownership (nominee shareholder) by entering into a nominee arrangement. In this paper, we will discuss about the concept of the nominee shareholder and the position of the nominee shareholder according to Indonesian positive law.

Keywords: nominee, nominee shereholder, nominee arrangement

Book

Bryan A. Gardner, “Black’s Law Dictionary”, 7th ed., St. Paul, Minnesota: West Group, 1999.

David Kairupan, Aspek Hukum Penanaman Modal Asing Di Indonesia, (Jakarta: Kencana), 2013

Graham Gooch and Micheal Williams, Dictionary of Law Enforcement, Oxford, 2007.

Ida Bagus Rachmadi Supancana, Kerangka Hukum dan Kebijakan Investasi Langsung di Indonesia, (Jakarta: Ghalia Indonesia), 2006.

Mulhadi, Hukum Perusahaan Bentuk-Bentuk Badan Usaha di Indonesia, Ghalia, Indonesia, 2010.

Syahrijal Syakur, Urgensi Pengaturan Nominee Agreement Dalam Rangka Pencegahan Tindak Pidana Pencucian Uang, (Jakarta: PPATK), 2020.

Zaeni Asyhadie , Hukum Bisnis, PT. Raja Grafindo Persada, Jakarta, 2006.

Journal

Gunawan Widjaja, “Nominee Shareholders Dalam Perspektif UUPT Baru dan UU Penanaman Modal Baru Serta Permasalahannya Dalam Praktik”, dalam Jurnal Hukum dan Pasar Modal Volume III Edisi 4 Agustus- Desember 2018.

Lucky Suryo Wicaksono, “Kepastian Hukum Nominee Agreement Kepemilikan Saham Perseroan terbatas”, Jurnal Hukum Ius Qua Iustum, Vol.23 No.1, Januari 2016.

Muh. Afdal Yanuar, “Tinjauan Hukum Terhadap Nominee Agreement Kepemilikan Saham Pada Penanaman Modal Asing Berbentuk Perusahaan Joint Venture”, Majalah Hukum Nasional Volume 51 Nomor 1 Tahun 2021.

Constitution

Law on Capital Investment, Law no. 25 of 2007, LN No. 101 of 2007, TLN No. 4724.

Law on Limited Liability Companies, Law no. 40 of 2007, LN No. 106 of 2007, TLN No. 4756.

Website

JDIH Glossary, BPK RI, accessed 15 May 2023,https://peraturan.bpk.go.id/Home/Glosarium?huruf=N&page=2