This is a question to gather possible causes of the compile error "Schema reference [assembly].[type] is not a valid reference or does not exist in the current project".
In a BizTalk solution, I have a common schemas assembly with a KiTH MsgHead schema that I have to reference as an import in another schema in another project. This is perfectly possible, even though search results on the web made me believe it might not.
An import statement like this is correct, without a doubt:
<xs:import namespace="http://www.kith.no/xmlstds/msghead/2006-05-24" schemaLocation="HP.BizTalk.KiTH.Schema.MsgHead_v12.MsgHead_v1_2"/>
Here the schema has type name MsgHead_v1_2 and exists in an assembly HP.BizTalk.KiTH.Schema.MsgHead_v12. When building the solution, I get the following compile error:
I will answer my own question with the solution that I couldn't find in any of the search results on the web.

