INVESTMENT IN DIGITAL AGE: THE FUTURE ROLE OF NOTARY IN COMPANY ESTABLISHMENT

Fahrurozi Muhammad

doi:10.33331/ilj.v15i1.89

Fahrurozi Muhammad Ministry of Law and Human Rights

DOI: https://doi.org/10.33331/ilj.v15i1.89

Keywords: Notary, Limited Liability Company, Investment

Abstract

The introduction of the Limited Liability Company (LLC) with a single shareholder in Law No. 11 of 2020 on Job Creation omits Notary involvement in LLC establishment. Previously, Law No. 40 of 2007 on Limited Liability Company regulated that LLC must be formed through a Notarial Deed. One of the reasons for this omission is the advancement of technology where many investment-related professions are replaced by electronic applications. This paper uses the normative juridical method to assess the future role of the notary in the investment sector, particularly in LLC incorporation. This paper finds that the Notary may see its role reduced in the future. However, it is going to be difficult for them to be completely uninvolved as long as the concept of LLC in Indonesia is still based on private partnership as regulated by Civil Code, where the company must be formed by at least 2 (two) founders.

Author Biography

Fahrurozi Muhammad, Ministry of Law and Human Rights

Fahrurozi Muhammad is a legislative drafter at Directorate General for Legal Administrative Affairs, the Ministry of Law and Human Rights Republic of Indonesia. AHU is actively involved in creating various regulations from economic, public, and private, to international matters related to the task and function of his unit. Besides working as a civil servant, Fahrurozi also actively gives lectures in several universities, speaks at multiple events, and writes in various mass media. He graduated from the Faculty of Law Universitas Indonesia with bachelor’s and master’s degrees. He is also actively involved in various social communities. At the moment, he serves as Chief of the Research and Training Division at the Faculty of Law Universitas Indonesia Alumni Association. He is also a co-founder of the Governance and Law Society (GoALS).