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Commerce to take over permitting of foreign investors, students
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Posted on Feb 27 2009
The Department of Commerce is now soliciting public comments on the newly released proposed regulations governing foreign investors, foreign retiree investors and foreign students, as well as eligibility requirements for educational institutions intending to enroll foreign students.
Immigration regulations recently transferred these functions to Commerce.
Under the proposed regulations, the responsibilities for processing, approval, issuance, renewal, extension and annual registration of regular term and long term business certificates, foreign investor certificates, retiree investor certificates have been transferred from the Division of Immigration to Commerce.
However, the issuance of the entry permits for these classes of aliens remains the responsibility of Immigration.
Commerce Secretary Michael Ada, in a statement Thursday said the department stands ready to administer the program until the U.S. government takes over local immigration.
“I encourage the general public to review the proposed regulations and submit their comments,” he said.
The 30-day public comment period started Thursday.
Until Commerce fully promulgates final immigration regulations for the selected immigration categories, these functions will be administered under current regulations with the Division of Immigration.
The proposed regulations can be accessed via Commerce’s website, www.commerce.gov.mp.
The proposed revisions to Commerce’s regulations are to make them consistent with the Immigration regulations which became effective on Jan. 1.
Under the proposed regulations, the regular term business certificate fee is $200, while a long term business certificate fee is $1,000.
The fee for foreign investment certificate is $10,000.
Other issues covered by the proposed regulations are the requirements for foreign students and their immediate relatives, to simplify and clarify certain provisions tomake them easier for public use, provide for the annual registration of all foreign investors, and require educational institutions to meet certain criteria prior to enrolling alien students.
