TITLE 4: ECONOMIC RESOURCES
DIVISION 5: BUSINESS REGULATION
§ 5943. Long Term Business Certificate; Application Process. (a) The applicant shall file an application for a long term business certificate with the secretary. The application will not be accepted without the necessary supporting documents and shall become the property of the secretary once submitted. All documents shall be filed out under penalty of perjury. (b) The following documents shall be attached to a completed application form: (1) Certified copy of birth certificate; (2) Any document deemed necessary by the secretary to substantiate the applicants immigration entry classification; (3) One and one-quarter inch (1-1/4") frontal photograph in either black and white or color; and, (4) Evidence that capital has been invested may include bank statements showing amounts deposited in CNMI business accounts, invoices, receipts or contracts for assets purchased, stock purchase transaction records, loan or other borrowing agreements, land leases, financial statements, business gross tax receipts, and any other agreements supporting application; (5) Evidence that applicant has invested or is actively in the process of investing amount required. These may include evidence of assets which have been purchased for use in the enterprise, evidence of property transferred from abroad for use in the enterprise, evidence of monies transferred or committed to be transferred to the new or existing enterprise in exchange for shares of stock, any loan or mortgage, promissory note, security agreement or other evidence of borrowing which is secured by assets of applicant; (6) Business plan/proposal incorporating evaluation factors for new enterprises; (7) Articles on incorporation, by-laws, partnership agreements, joint venture agreements, corporate minutes and annual reports, affidavits, declarations or certifications of paid-in capital; (8) Current business license(s); (9) Foreign business registration records, recent tax returns of any kind, evidence of other sources of capital; (10) Listing of all resident and nonresident employees; (11) Listing of all holders of business certificates for the business establishment; (12) Listing of all corporations held by applicants; (13) Any other documents required by the secretary; (14) A police clearance valid for the previous two years from the date of application for the long term business certificate. (c) Applicants for a long term business certificate shall file with the Department of Commerce a completed application form approved by the secretary. The procedures for the review of an application for a long term business certificate are set forth in 4 CMC §§ 5911-5915.
TITLE 4: ECONOMIC RESOURCES
DIVISION 5: BUSINESS REGULATION Source: PL 10-44, § 7 (“Part II - Foreign Investments” regulations (Commonwealth Register, Vol. 17, No. 01, January 15, 1995) § 1001C., modified; amended by Commonwealth Register, Vol. 18, No. 08, August 15, 1996, Page 14314 (added new subsection (b)(14) to this section). Commission Comment: Following section 1301 of “Part II - Foreign Investments” regulations (Commonwealth Register, Vol. 17, No. 01, January 15, 1995) the following form was set forth on page 12749: LONG TERM BUSINESS ENTRY CERTIFICATE (2 YRS) * THE FOLLOWING DOCUMENTS ARE TO BE SUBMITTED BEFORE THE REVIEW COMMITTEE IN ORDER TO CONSIDER APPLICATION. CHECK LIST _______COMPLETED LTBEC APPLICATION _______PHOTO _______MARRIAGE CERTIFICATE _______CURRENT POLICE CLEARANCE _______HEALTH CERTIFICATE _______COPY OF PASSPORT _______BIRTH CERTIFICATE _______BGRT QUARTERLY _______WITHHOLDING EMPLOYEE TAX _______BUSINESS LICENSE OF EXISTING BUSINESS _______BY-LAWS _______ARTICLES OF INCORPORATION _______CORPORATE CHARTER _______AFFIDAVIT/CERTIFICATION/DECLARATION OF PAID IN CAPITAL _______BUSINESS FINANCIAL STATEMENT _______LEASE AGREEMENT PRIVATE/PUBLIC _______SKETCH OF LOCATION _______LIST OF DEPENDENTS _______INVENTORY OF ASSETS _______FILING FEE PAID RECEIPT NO._______ A. IS APPLICANT ON ISLAND______ OFF ISLAND_______ B. TYPE OF PERMIT_______ NO._______ C. ANY AMENDMENTS TO BUSINESS(LIST)________ D. APPLICATION SUBMITTED BY INCORPORATOR _______ AGENT(NAME) _______ E. SOCIAL SECURITY NUMBER OF INCORPORATOR: PREVIOUS #___________NEW #___________ DOCUMENTS REVIEWED BY:___________________________ STATUS: ________ RECOMMENDED FOR APPROVAL ________RECOMMENDED FOR DENIAL ________PENDING
TITLE 4: ECONOMIC RESOURCES
DIVISION 5: BUSINESS REGULATION COMMENTS:____________________________________________ ___________________________________________________________ ___________________________________________________________ ____________________________________________________