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Commercial Polices
Summary statements from the crown about this policy area
Economic Policy
Tender - The official note of currency of New Utopia shall be known as the `Crown´. Use of this tender is legal, but is not the only form of legal tender. Any form of exchange considered acceptable by both parties in any transaction will be held as valid tender. The Government holds no opinion on this matter, it is a private trade matter. The New Utopian Crown will be the only national currency in the world which will be backed 100% by gold. Each Crown will be backed by one grain of gold at the current price of gold (3/30/07) the exchange rate would be $1.38 US. No crown will be issued unless there is the correct amount of gold in our vaults or storage facilities.
Monetary - The New Utopian Crown shall be a free-market currency, floating at its market value without assistance from the Crown or the Government.
See Also Merchandise
Taxation Policy
Taxation - Taxation is illegal in The PNU.
Import Excise - Excise will be levied on all imports. The nominal levy rate is set at 15% on all goods, old or new, for private ownership or resale, without exception. Goods will be assessed by The Royal Customs Service with assistance from the importer as to their current value.
Export Duty - There will be no export duties of any kind.
Property Policy
Property Title - As The PNU is a private country, all land property is Crown Land and belongs to The Crown. Land will be leased out at a rate of 1% of improved value (as agreed) per year on leases of a ninety-nine year duration payable as an annuity to The Crown. All improvements on land belong to their owner and are not considered to be a part of The Crown´s holding in that land allotment. Some lease rates may be altered where large spaces are required with little improvement (for example golf courses), and in other special cases. All leases, terms and issue remain at the pleasure of The Crown.
Rates - As no services will be provided to leaseholders, no property rates will be levied. Developments are expected to provide for their own services and utilities.
Property Ordinances - Buildings and constructions, and other land developments will need to pass through regulatory approval. This process will be enforced for the protection of the public under the terms of The Mandate. The Building Codes will be similar to those in place in Florida in the U.S.A. for use in the `hurricane region´.
Property Zoning - There will be no official zoning system. As all land is leased at the pleasure of The Crown, proposed use of the land to be leased must be found suitable to the development strategy of The Crown. This strategy is expected to be suitable, tasteful and lasse faire.
Registration - Any citizen of any country may register a company in New Utopia.
Business Privacy - Businesses have total right of privacy to their accounts, operating records and any other information related to the business as does any other legal entity in The PNU.
International Information Orders - Orders from foreign courts demanding access to banking or commercial information from the records or regarding New Utopian incorporated companies and other businesses will not be recognised unless evidence of proof is presented in a New Utopian court proving that the entity concerned is or has been conducting money laundering operation.
Laundering - Money laundering in New Utopia is outlawed. Proceeds of crimes and illegal activities in other nations may not be reprocessed into a legitimate revenue stream though New Utopian institutions, businesses, companies or through private estates in New Utopia.
Monopolies - Monopolies will not be awarded through state contract, however it is legal to develop a monopoly in New Utopia. There will be no anti-business or anti-trade, or antitrust legislation or legal action allowed in New Utopia.
Trade Practices - The Crown Prosecutor will take action against businesses carrying on a trade where that trade causes harm to the people of New Utopia on an individual or public scale.
False Advertising - There is no legislation controlling advertising. False advertising is therefore not illegal in New Utopia. The consumer is advised to be cautious when shopping. Companies promoting a product incorrectly, however, leave themselves open to civil action. Membership of a consumer association may be prudent for citizens of New Utopia.
See also Taxation, Regulation, Censorship, and Legal Policies.
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