Read on Twitter
Quick Law Question:
After your client has spent $700m to set up in a country & hired 3 foreigners (experts) to fill 3 (COO, CTO & CFO) of the 4 directorship positions, the government passes a regulation that 80% of directors must be Nationals & the CTO & CFO must be Nationals.
After your client has spent $700m to set up in a country & hired 3 foreigners (experts) to fill 3 (COO, CTO & CFO) of the 4 directorship positions, the government passes a regulation that 80% of directors must be Nationals & the CTO & CFO must be Nationals.
What’s your advice on how your client can keep the 3 foreign experts as directors while satisfying the government’s regulations?
For those saying citizenship, it is a very complicated process that most foreigners will not be interested in. Also increasing the board seats to 15 is actually high cost for any company & make decision making very difficult. Just my observations.
