Any foreigner who plans to own shares in an Indonesian telecommunications company must abide by the specifications stated in the Negative Investment List. Foreign owners of shares are permitted to own up to 49% of the shares of a company which provides telecommunications services including content services, call centers and other added-value telephony services, Internet services, as well as certain other multimedia services.
Foreign shareholders are allowed to own up to 65% of the shares of any company involved in the operation of telecommunications networks consisting of fixed network providers and mobile network providers as well as telecommunications network providers which have been integrated with telecommunication services.
It is also possible for a foreigner to own up to 95% of the shares of any company in Indonesia which has established or is in the process of establishing a testing telecommunication device agency.