Transformasi Status Hukum PT Perseorangan Dalam Skema Securities Crowdfunding: Antara Kepastian Regulasi dan Perlindungan Investor

Utiyafina Mardhati Hazhin, UM Hazhin and Russel Davis, Russel D (2025) Transformasi Status Hukum PT Perseorangan Dalam Skema Securities Crowdfunding: Antara Kepastian Regulasi dan Perlindungan Investor. In: Konferensi Nasional Asosiasi Pengajar Hukum Keperdataan (APHK) X Tahun 2025, 15-16 Oktober 2025, Surabaya. (Submitted)

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Abstract

The emergence of securities crowdfunding has created broader and more inclusive access to capital for Micro, Small and Medium Enterprises (MSMEs). Nevertheless, the participation of Sole Shareholder Limited Liability Companies (PT Perseorangan) as issuers gives rise to juridical challenges, particularly due to the transition from a single-shareholder structure to a multi-shareholder framework. Such a transformation necessitates the conversion of PT Perseorangan into an ordinary Limited Liability Company, as mandated under Article 9 of Government Regulation No. 8 of 2021. This research seeks to examine the transformation of the legal status of PT Perseorangan within the securities crowdfunding scheme, and its consequent implications for regulatory certainty and the protection of investors. Employing a normative juridical method through statute and conceptual approaches, the study reveals that the absence of a clear statutory timeframe for conversion engenders legal uncertainty, which may, in practice, result in the nullity of legal acts and the imposition of personal liability upon the sole shareholder under the doctrine of piercing the corporate veil. Furthermore, the lack of detailed implementing regulations exacerbates legal risks for investors, particularly in relation to the validity of share ownership. Accordingly, this study recommends the promulgation of supplementary regulations establishing a mandatory timeframe for conversion, as well as the reinforcement of the supervisory role of platform operators to ensure issuer compliance. In this manner, the transformation of PT Perseorangan within securities crowdfunding not only facilitates MSME access to capital but also upholds legal certainty and safeguards investor protection within the Indonesian legal framework.

Item Type:	Conference or Workshop Item (Paper)
Uncontrolled Keywords:	Sole Shareholder Limited Liability Company; Securities Crowdfunding; Crowdfunding
Subjects:	K Law > K Law (General)
Divisions:	Faculty of Law > Department of Law
Depositing User:	UTIYAFINA MARDHATI HAZHIN
Date Deposited:	09 Mar 2026 03:51
Last Modified:	09 Mar 2026 03:51
URI:	http://repository.ubaya.ac.id/id/eprint/50414

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