Indonesia's bid to create family office hub in Bali is a tough ask

Alldo Fellix Januardy is a managing partner at the Jakarta-based AVYA Law Firm, specializing in family enterprises and multigenerational family estates. He is also the co-founder of LogikaRasa, a Jakarta-based startup promoting Indonesian literature.

The Indonesian government's plan to establish a family offices hub in Bali has stirred both enthusiasm and skepticism. This ambitious scheme, championed by President Joko Widodo and Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, aspires to transform the resort island into a financial magnet akin to Singapore.