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Foreign Investor’s Entry Permit

MicronesiaInvestment

Explore the five recorded questions, answers and sources for this pathway.

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What investment option or options qualify?

The immigration law ties the Foreign Investor's Entry Permit to the investor's business permit but does not define which investment qualifies. Under the Foreign Investment Act of 1997, 'foreign investment' is any activity in the FSM by a noncitizen that amounts to 'engaging in business' (which includes holding at least a 20% ownership interest in a business entity), and a noncitizen may not engage in business without a valid Foreign Investment Permit. National Red List sectors are closed to foreign investment; National Amber List sectors must meet criteria set in the FSM Foreign Investment Regulations; National Green List sectors need no special criteria; foreign investment in all other sectors is regulated by each State. The official source does not state that the Foreign Investment Permit is the business permit on which this entry permit depends.

See recorded sources
Limits of the record
  • Title 50 s.103(7) ties the entry permit to the 'foreign investor's business permit'; identifying that permit with the Foreign Investment Permit of Title 32 ch.2 is an inference.
  • Captured Title 32 ch.2 is the fsmlaw.org .htm codification (no 2014 edition found at the expected URL); later amendments, the FSM Foreign Investment Regulations and State foreign investment laws were not captured.
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    "foreign investment" means any activity in the FSM by a noncitizen that amounts to "engaging in business" as defined above;
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    holding at least twenty percent (20%) ownership interest in a business entity;
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    A noncitizen may not conduct any activity in the FSM that amounts to “engaging in business”, as defined in section 203 of this chapter, unless that noncitizen holds a currently valid Foreign Investment Permit authorizing that noncitizen to conduct that activity.
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    the set of economic sectors that are closed to foreign investment anywhere in the FSM.
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    the set of economic sectors that are subject to National Government regulation and as to which certain criteria specified in the FSM Foreign Investment Regulations must be met before a Foreign Investment Permit may be issued.
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    the set of economic sectors that are subject to National Government regulation but as to which no special criteria need to be met before a Foreign Investment Permit is to be issued.
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    The Government of each individual State shall be responsible for the regulation of foreign investment, including the issuance of State Foreign Investment Permits, in respect of foreign investment taking place or proposed to take place within the territory of that State in all economic sectors other than those designated for inclusion in Categories A, B, or C pursuant to section 205(1) of this chapter.

What official minimum amount, tier or threshold applies to each relevant option?

The checked official sources did not provide enough route-specific evidence to confirm the official minimum investment for each option.

See recorded sources
Limits of the record
  • Searched for a minimum investment amount; none found. The $1,000 minimum in s.104(3)(c) is a change-of-status fee, not investment capital.

How long must the investment be maintained and what continuing ownership, investment or physical-presence conditions are important?

The immigration law allows the Foreign Investor's Entry Permit to be renewed upon renewal or extension of the investor's business permit. Under the Foreign Investment Act, an FSM Foreign Investment Permit is valid for one year and renewable annually on payment of any annual fee required by regulation. It cannot be transferred to another investment or investor. Any change in foreign ownership must be reported immediately to the Secretary, who may cancel the permit; if the permit is cancelled the noncitizen must immediately stop engaging in business in the FSM. The official source does not state that the Foreign Investment Permit is the business permit on which this entry permit depends, nor any physical-presence condition.

See recorded sources
Limits of the record
  • No minimum holding period or physical-presence requirement was found.
  • Link between the entry permit's 'business permit' (Title 50 s.103(7)) and the Foreign Investment Permit is an inference; State Foreign Investment Permits follow State law (not captured).
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    An FSM Foreign Investment Permit shall be valid for one year, and, unless it has been canceled, suspended, or surrendered pursuant to subsections (7) - (10) below, it shall be renewable on an annual basis upon the fulfillment by the holder of the requirements, if any, included in the FSM Foreign Investment Regulations for the payment of an annual fee.
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    An FSM Foreign Investment Permit shall not be transferable between investments or investors and shall not be assignable to any investment or investor other than the one for which it was issued.
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    Any change in foreign ownership of an investment for which an FSM Foreign Investment Permit has been issued shall be reported immediately to the Secretary, who may take such action as he or she considers appropriate in respect of the FSM Foreign Investment Permit, including its cancellation if appropriate
  • https://fsmlaw.org/fsm/code/title32/T32_Ch02.htm
    immediately stop engaging in business in the FSM;

Which family members can be included where officially stated, and what broad residence/work rights result?

The investor's spouse or unmarried child under 18 may be issued an entry permit for the duration of the investor's permit, renewable with it. The official source does not state the family members' work rights.

See recorded sources
Limits of the record
  • The captures do not state the family members' work rights.
  • https://fsmlaw.org/fsm/code/title50/T50_Ch01_2014.html
    A spouse or unmarried child under the age of 18 of any noncitizen principal listed in this section, except subsection (11) of this section, may be issued an entry permit for the duration of the principal’s entry permit and may be renewed upon renewal of the principal’s entry permit.

What status is obtained, how is it renewed, what longer-term residence/citizenship direction is officially stated, and what happens to the investment when relevant?

A Foreign Investor's Entry Permit is issued for a specified duration and may be renewed upon renewal or extension of the investor's business permit. The official source does not state a longer-term residence or citizenship direction or what happens to the investment.

See recorded sources
Limits of the record
  • The captures state no longer-term residence or citizenship direction and nothing on what happens to the investment.

These are the answers currently recorded in the catalogue. A missing or partial answer is not an eligibility decision.

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