HORIZONTAL COMMITMENTS. All sectors included in this schedule 3) Commercial Presence of the foreign service provider(s) may be in the form of joint venture and/or representative office, unless mentioned otherwise. Joint venture should meet the following requirements: a) Should be in the form of Limited Liability Enterprise (Perseroan Terbatas/PT), b) Not more than 49% of the capital share of the Limited Liability Enterprise (Perseroan Terbatas/PT), may be owned by foreign partner(s). 3) Land Acquisition Undang-Undang Pokok Agraria (Land Law) No. 5 of 1960 stipulates that no foreigners (juridical and natural persons) are allowed to own land. However, a joint venture enterprise could hold the right for land use (Hak Guna Usaha) and building rights (Hak Guna Bangunan), and they may rent/lease land and property. Any juridical and natural persons should meet professional qualification requirements. Modes of supply : 1) Cross-border supply 2) Consumption abroad 3) Commercial presence Sector or Sub-sector Limitations on Market Access Limitations on National Treatment Additional Commitments
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Samples: Asean–australia New Zealand Free Trade Area Agreement, Asean–australia New Zealand Free Trade Area Agreement, Asean–australia New Zealand Free Trade Area Agreement
