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41.0803 Foreign investor entry permits-Issuance, denial, terms.

Cite as [A.S.C.A. § 41.0803]

(a) Notwithstanding any other law, the Attorney General or his designee may issue a foreign investor entry permit to any foreign investor, the spouse and two dependent children in his family as defined in section 41.0801(f):

(1) who presents to the Attorney General current proof of participation in an enterprise granted a certificate of foreign investment; and

(2) who represents a currently valid passport for the investor and any member of the immediate family seeking such permit.

(b) The foreign investor entry permits allow the holders the following rights and privileges: entry and exit, of any frequency or duration, to and from American Samoa. The entry permit shall have no effect other than allowing entry and exit for the purposes of foreign investment and shall not vest in any permit holder any rights to own land, vote, hold elective office, permanent residence, or rights to United States nationality or citizenship.

(c) The foreign investor entry permit shall be valid for one year and shall be renewable each subsequent year as long as the approved enterprise is in operation and all other requirements remain satisfied, subject to revocation upon the conditions specified by law or rule.

(d) The Attorney General or his designed shall review every application and either issue or deny the foreign investor entry permit within 15 days following receipt of a complete application.

(e) In the event the Attorney General or his designee denies the application for a foreign investor entry permit, he shall state and include the reason for the denial in writing in a communication delivered to the applicant. The Attorney General shall additionally notify and instruct the escrow agent or corporation to return to the applicant the full amount of the investor's funds on deposit pursuant to section 41.0802(A)(11) herein.

History: 1988, PL 20-56; 1988, PL 20-80.