TITLE 1: GOVERNMENT
§ 2495
DIVISION 2: EXECUTIVE BRANCH
§ 2495. Office of Foreign Corporation Liaison; Duties and Responsibilities. (a) Primary Responsibility. The Office of Foreign Corporation Liaison through the director shall be principally responsible for assisting any foreign or domestic investor in obtaining all the requisite permitting and licensing requirements of the various government departments and agencies in an expedient manner. (b) The services provided by the office shall include, but not be limited to, assistance in obtaining information and documents from government departments and agencies, assistance in filling out applications for government permits and licenses and other government requirements, routing of applications through the government departments and agencies on behalf of the foreign corporation, monitoring of the progress of applications for permits and licenses on behalf of the businesses, and prompt coordination with departments, agencies, and public corporations and other governmental entities, including, but not limited to, permitting and licensing departments and agencies, on any additional documentary support required of the business. (c) Rulemaking authority. The Secretary of the Department of Commerce shall have rulemaking authority to prescribe reasonable necessary rules and regulations to carry out the mandate and intent of this Act. Source: PL 14-67, § 3; repealed and reenacted by PL 24-06, § 3 (July 22, 2025). Commission Comment: PL 14-67 was enacted on May 19, 2005, and contained, among other enactments, short title, findings, interim funding, severability, and savings clause provisions. The short title, findings, and interim funding provisions stated: Section 1. Short Title. This Act may be cited as the “Office of Foreign Investment Assistance Act of 2005.” Section 2. Findings. The Legislature finds that many foreign investors who come to the Commonwealth are discouraged or frustrated with the lack of assistance in establishing investment ventures. The Commonwealth does not have an office that provides comprehensive services to foreign investors. Therefore, the Legislature finds that there is a need for an Office of Foreign Investment Assistance within the Department of Commerce. The Legislature further finds that the bonding requirement for investors in the Commonwealth is currently excessive, particularly when labor bonding exists as a prerequisite to employment of non-resident workers. The Legislature further finds that the Department of Commerce Foreign Investment Review Committee adequately screens potential investors in the Commonwealth. Based on the foregoing reasons, the Legislature finds that prospective investors for long-term (2 year) business certificates should be required to post a bond or security deposit as currently required in order to invest in the Commonwealth. However, no security deposit should be
TITLE 1: GOVERNMENT
DIVISION 2: EXECUTIVE BRANCH required of foreign investment certificate holders under 4 CMC § 5951(a), and any security deposits currently on deposit with the CNMI Government should be refunded. … Section 6. Office of Foreign Investment Assistance; Interim Funding. Notwithstanding any law to the contrary, the Secretary of Commerce is authorized to reprogram Department of Commerce appropriations to accommodate reasonably the funding needs of the Office of Foreign Investment Assistance pending the approval of a new annual appropriation act.