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Relaxed regs seen in bringing in key workers
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Posted on Oct 31 2005
Attorney General Pamela Brown yesterday disclosed that her office and the Commerce Department have formed a task force to develop regulations that would allow new businesses to bring with them key employees to the CNMI.
Brown said the regulations would be drafted as a form of encouraging investors, in line with enhancing economic development.
The regulations will effectively implement treaties of Friendship, Commerce and Navigation entered into by the federal government with many countries, including those in Asia. The attorney general said those treaties apply to the CNMI.
“They [treaties] encourage commerce and streamline the ability of foreign-owned businesses to bring in key employees to manage their businesses,” she said. “The treaties also make it easier for American businesses, including those from the CNMI, to have their key employees manage their key businesses abroad.”
Key employees include accountants and other technical experts, executive personnel, attorneys, agents and other specialists.
Until now, however, the CNMI has adopted no regulations to implement the treaties, according to Brown.
She said the new task force would begin work immediately and come up with draft regulations that would be published for public comment by the end of the year.
“We are joining with the Department of Commerce to adopt effective, business-friendly regulations that encourage economic development. By clarifying this area of the law, we will also preserve positions for local residents that otherwise might have gone to a nonresident because of misunderstanding of the treaty’s provisions,” Brown said.
