The Ministry of Finance has announced its latest regulation pertaining to the Digital Residency Program.
In a letter to President Surangel Whipps Jr., The Ministry of Finance said the new regulation establishes the physical address and mailing address policies and procedures.
Establishing the Digital Residency Office within the Ministry of Finance, will be functioning as the entity that will oversee and manage all activities required and permitted by the program.
The service provider meanwhile devises a system through which a person holding a digital residency identification card may establish a physical mating address in Palau.
The Service Provider will receive all the mail on behalf of the digital resident, who can scan or forward the mail to another address.
Under the regulation, the chosen service provider by the Ministry of Finance is required to lease land in Palau sufficient enough for all allocation for digital residents.
The Service Provider shall “systematically allocate blocks and assign mailing addresses to digital residents.
Digital residents acquiring a physical address will pay a total of $100, $100 covers the payment for an annual subscription of $65 and $35 as a deposit for mail forwarding services.