Legal Authorization
Local and Foreign corporations and partnerships may be authorized to do business in American Samoa.
Present regulations allow only U. S. Nationals, Citizens and Permanent Residents as designated by ASCA 41.0502(sic), to establish sole proprietorships.
Incorporating Locally
Three or more persons of lawful age, a majority of whom must be U. S. Nationals or Citizens and at least one a resident of American Samoa, may form a corporation for any lawful business.
Articles of Incorporation must be signed and acknowledged by the incorporators and forwarded to ASG Treasurer via the Attorney General, American Samoa Government (ASG). The ASG Treasurer then forwards the articles to the Governor for approval, and they are recorded by the Territorial Registrar. After payment of incorporation fees, the ASG Treasurer issues a Certificate of Incorporation.
The Articles must contain the following:
- The name of the corporation and the principal place of business in American Samoa;
- The objectives for which it is formed, such objectives to be stated with specificity;
- The amount of authorized capital stock, the class of stock authorized and the par value and conditions of each class and the time and conditions which it is to pay;
- The time for commencement of existence of the corporation, not earlier than issuance of the certificate;
- The names and address of the incorporators and the officers or persons including at least three (3) directors, to conduct its affairs. And the manner in which persons will be selected;
- A statement that private property of the stockholders is to be exempted from corporate debts; and
The manner in which the articles may be amended.
For further information contact Alex Zodiacal, phone +1-684-633-5155 or visit the bar association web site at http://www.asdoc.info
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