§ 5913. Foreign Investment Review Committee; Procedures
TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 5913. Foreign Investment Review Committee; Procedures. The review committee shall establish in writing standard operating procedures for the review of all applications for a commerce certificate and other applica- tions assigned to it by the secretary. The review committee shall communicate its findings and decision in writing regarding each application for a commerce certificate to the secretary no later than 30 calendar days from the date the application form is filed with the Department of Commerce. The secretary shall notify the applicant of the decision of the review committee within five working days of receipt of the decision of the review committee. The secretary shall issue an approved letter to an applicant whose application has been approved. An application which has been received the Department of Commerce and has not received an approval or denial on the 91st day after its receipt shall be deemed approved with conditions stipulated for completeness. Source: PL 10-44, § 7 (“Part II - Foreign Investments” regulations (Com- monwealth Register, Vol. 17, No. 01, January 15, 1995) § 701B., modified). Commission Comment: Following section 1301 of “Part II - Foreign In- vestments” regulations (Commonwealth Register, Vol. 17, No. 01, January 15, 1995) the following form was set forth on page 12747: FOREIGN INVESTMENT REVIEW COMMITTEE DATE SUBMITTED:________________
- THE FOLLOWING DOCUMENTS WERE SUBMITTED TO THE FOREIGN INVESTMENT REVIEW COMMITTEE IN ORDER TO CONSIDER APPLICATION. CHECK LIST ______Documents to support financial backing
______Description of proposed project or line of business
_______Evidence of character and business reputation of all involved inves- tors
TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION
Immigration status of involved investors and family members Principal:_______________________________________________
___Copy of Certificate of Incorporation Fees paid Receipt no. Following section 1301 of “Part II - Foreign Investments” regulations (Com- monwealth Register, Vol. 17, No. 01, January 15, 1995) the following form was set forth on page 12748: FOREIGN INVESTMENT REVIEW COMMITTEE
- Application for Foreign Investment Certificate for ________________________ has been: _____Approved ______Denied
Review Committee Date Review Committee Date
Review Committee Date Review Committee Date
Review Committee Date Review Committee Date COMMENTS:
Source: CNMI Law Revision Commission