Be it enacted by the Legislature of the State of Yap.

Section 1.

Legislative Findings.

The Yap State Legislature finds that the people have a right to health care and legal services and that the availability of other professional services would be beneficial to the people of Yap. Professional services are often provided by a sole practitioner or small firm, that is likely unable to meet the required $3,000,000 investment for a Yap State Foreign Investment Permit. Further, most professionals are licensed and subject to regulations in their home jurisdictions that limit their ability to partner with an FSM citizen who does not hold the same professional license that the foreign citizens holds. The Yap State finds that there is a demand for additional professional services to be provided n the State of Yap. One of the reasons for the demand for professional services is that the Yap State Foreign Investment Act creates a barrier for foreign professionals to obtain a Foreign Investment Permit. The amendment is intended to create a regulatory framework that opens Yap State to investment by foreign citizens professionals who also obtain license to practice their profession from the appropriate Yap State agency or authority.

Section 2.

Section 303 is hereby amended by adding a new Subsection (s) to be read as follows:

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