How to Apply: New Business

Proposals by government-related entities involving the establishment of a new business or project do not require a statutory notice, but should include the information outlined below. These applications must also address the Guidelines for foreign government investment proposals (see Attachment A of the policy).

Proposals by private investors involving the establishment of a new business or project do not require notification or approval.

1. Parties to the proposal
• Name, location and major activities of the investor; and
• A copy of the latest financial statements for the investor which should include total assets, net tangible assets and pre-tax profits.
2. The proposal
• Description of proposal including the total funds to be invested, the proposed location of the investment and the purpose of the investment.
3. Ownership of the proposed business
• Details of proposed beneficial ownership, voting and board representation rights, and other rights concerning management and control.
4. Industry information
• A description of the industry in which the new venture will be engaged.
5. Other considerations
• Information should also be provided on any patents, royalty and licensing arrangements and export franchises held by the applicant which might be made available to the local firm and the basis on which these would be made available; what restrictions, if any, will be placed on the new venture together with any plans for local research and development.
• Describe the environmental impact, if any, of the proposal, and provide details of any environmental studies undertaken.