4 Feb 2006

Proposal for foreigners to pay US$500,000 before doing business in American Samoa

8:21 am on 4 February 2006

A bill requiring non-American Samoan nationals to pay a bond of half a million dollars as a condition to doing business there, has been introduced in the Fono.

Authored by Senator Tuiagamoa Tavai, the bill proposes that any non-American Samoan national who is a principal of a foreign corporation must pay a bond of US$500,000 to operate in the territory.

The governor Togiola Tulafono says he'll soon be sending a trade mission to New Zealand and Australia to entice investors to set up in the territory.