The Foreign Investment Board (FIB) revealed that the plan by a Chinese insurance company to build a call center facility in Melekeok State is outside the scope of the Foreign Investment Approval Certificate (FIAC) issued to it in January 2017. FIAC No. 609-2017, which was issued to Chinese company GT Insurance Inc., was granted to […]
Tag: FIB
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FIB denies application of cryptocurrency exchange firm
The Foreign Investment Board (FIB) last week rejected the foreign investment application of a company that wants to launch a cryptocurrency exchange in Palau, stating that venture “would not provide an overall benefit to the national economy.” Earlier a company called Silver Lake applied for a Foreign Investment Application Certificate (FIAC) to launch a put up a cryptocurrency exchange […]
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Liveaboard vessel license not illegal: FIB
Reserved services removed from the scope and licensed as hotel operation The Foreign Investment Board approved the foreign investment permit or (Foreign Investment Approval Certificate) for the Palau Pearl, a liveaboard vessel seeking to operate in the Republic of Palau by removing activities and services from the scope of work that are prohibited by law, […]
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FIB license foreign liveaboard business, board defines liveaboard vessels as hotels
Foreign Investment Board unanimously approved a permit for operation of a 14-room luxury live-aboard vessel called The Palauan Pearl in Palau by issuing its Foreign Investment Approval Certificate (FIAC) despite the law reserving tour business activities exclusively to Palauans. The business, which is solely owned by Mr. Ming Yung Ha, a citizen of People’s Republic […]