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 […]
Tag: Foreign Investment Board
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Dozens of suspected front businesses operate in Palau: FIB
Dozens of suspected front businesses are estimated to have been operating in Palau and most of these are in the retail business industry, according to the Foreign Investment Board. FIB Legal Counsel and Interim Executive Director Cameron Van Tassel told Island Times in an exclusive interview that the FIB office is applying multiple strategies in […]
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Over $50K fines issued against FIB law violators
The Foreign Investment Board (FIB) office has noted that more than $50,000 of fines were issued last year against business operators who were found in violation of the foreign investment law. FIB Legal Counsel and Interim Executive Director Cameron Van Tassel told Island Times in an interview that some foreign business operators were given plenty […]