菲律宾外商投资法Word文档下载推荐.docx
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菲律宾外商投资法Word文档下载推荐.docx
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a."
Act"
shallrefertoRepublicAct7042entitled"
AnActtoPromoteForeignInvestments,PrescribetheProceduresforRegisteringEnterprisesDoingBusinessinthePhilippines,andforOtherPurposes"
alsoknownastheForeignInvestmentsActof1991,asamended.
b.
"
Philippinenational"
shallmeanacitizenofthePhilippinesoradomesticpartnershiporassociationwhollyownedbythecitizensofthePhilippines;
oracorporationorganizedunderthelawsofthePhilippinesofwhichatleastsixtypercent[60%]ofthecapitalstockoutstandingandentitledtovoteisownedandheldbycitizensofthePhilippines;
oratrusteeoffundsforpensionorotheremployeeretirementorseparationbenefits,wherethetrusteeisaPhilippinenationalandatleastsixtypercent[60%]ofthefundwillaccruetothebenefitofthePhilippinenationals;
Provided,thatwhereacorporationitsnon-FilipinostockholdersownstocksinaSecuritiesandExchangeCommission[SEC]registeredenterprise,atleastsixtypercent[60%]ofthecapitalstockoutstandingandentitledtovoteofbothcorporationsmustbeownedandheldbycitizensofthePhilippinesandatleastsixtypercent[60%]ofthemembersoftheBoardofDirectorsofeachofbothcorporationmustbecitizensofthePhilippines,inorderthatthecorporationshallbeconsideredaPhilippinenational.Thecontroltestshallbeappliedforthispurpose.
CompliancewiththerequiredFilipinoownershipofacorporationshallbedeterminedonthebasisofoutstandingcapitalstockwhetherfullypaidornot,butonlysuchstockswhicharegenerallyentitledtovoteareconsidered.
ForstockstobedeemedownedandheldbyPhilippinecitizensorPhilippinenationals,merelegaltitleisnotenoughtomeettherequiredFilipinoequity.Fullbeneficialownershipofthestocks,coupledwithappropriatevotingrightsisessential.Thus,stocks,thevotingrightsofwhichhavebeenassignedortransferredtoalienscannotbeconsideredheldbyPhilippinecitizensorPhilippinenationals.
Individualsorjuridicalentitiesnotmeetingtheaforementionedqualificationsareconsideredasnon-Philippinenationals.
c."
Foreigncorporation"
shallmeanonewhichisformed,organizedorexistingunderlawsotherthanthoseofthePhilippines.
Branchofficeofaforeigncompanycarriesoutthebusinessactivitiesoftheheadofficeandderivesincomefromthehostcountry.
Representativeorliaisonofficedealsdirectly,withtheclientsoftheparentcompanybutdoesnotderiveincomefromthehostcountryandisfullysubsidizedbyitsheadoffice.Itundertakesactivitiessuchasbutnotlimitedtoinformationdisseminationandpromotionofthecompany'
sproductsaswellasqualitycontrolofproducts.
d.InvestmentshallmeanequityparticipationinanyenterpriseorganizedorexistingunderthelawsofthePhilippines.Itincludesbothoriginalandadditionalinvestments,whethermadedirectlyasinstocksubscription,orindirectlythroughthetransferofequityfromoneinvestortoanotherasinstockpurchase.Ownershipofbonds[includingincomebonds],debentures,notesorotherevidencesofindebtednessdoesnotqualifyasinvestments.
Thepurchaseofstockoptionsorstockwarrantsisnotaninvestmentuntiltheholderthereofexerciseshisoptionandactuallyacquiresstockfromthecorporation.
e."
Foreigninvestment"
shallmeananequityinvestmentmadebyanon-Philippinenational;
Provided,however,Thatforpurposesofdeterminingforeignownership,pesoinvestmentsmadebynon-Philippinenationalsshallbeconsidered;
Provided,further,Thatonlyforeigninvestmentsintheformofforeignexchangeand/orotherassetsactuallytransferredtothePhilippinesanddulyregisteredwiththeCentralBank(CB)andprofitsderivedtherefromcanberepatriated;
andProvided,finally,That,forpurposesofSection8oftheAct,andRuleVIII,Section6oftheseRulesandRegulations,"
ExistingForeignInvestments"
shallmeananequityinvestmentsmadebyanon-PhilippinenationaldulyregisteredwiththeSECortheBureauofTradeRegulationandConsumerProtection(BTRCP)intheformofforeignexchangeand/orotherassetstransferredtothePhilippines.
f."
Doingbusiness"
shallincludesolicitingorders,servicecontracts,openingoffices,whetherliaisonofficesorbranches;
appointingrepresentativesordistributors,operatingunderfullcontroloftheforeigncorporation,domiciledinthePhilippinesorwhoinanycalendaryearstayinthecountryforaperiodtotalingonehundredeighty[180]daysormore;
participatinginthemanagement,supervisionorcontrolofanydomesticbusiness,firm,entityorcorporationinthePhilippines;
andanyotheractoractsthatimplyacontinuityofcommercialdealingsorarrangements,andcontemplatetothatextenttheperformanceofactsorworks,ortheexerciseofsomeofthefunctionsnormallyincidenttoandinprogressiveprosecutionofcommercialgainorofthepurposeandobjectofthebusinessorganization.
Thefollowingactsshallnotbedeemed"
doingbusiness"
inthePhilippines:
1.Mereinvestmentasashareholderbyaforeignentityindomesticcorporationsdulyregisteredtodobusiness,and/ortheexerciseofrightsassuchinvestor;
2.Havinganomineedirectororofficertorepresentitsinterestinsuchcorporation;
3.AppointingarepresentativeordistributordomiciledinthePhilippineswhichtransactsbusinessintherepresentative'
sordistributor'
sownnameandaccount;
4.Thepublicationofageneraladvertisementthroughanyprintorbroadcastmedia;
5.MaintainingastockofgoodsinthePhilippinessolelyforthepurposeofhavingthesameprocessedbyanotherentityinthePhilippines;
6.Consignmentbyaforeignentityofequipmentwithalocalcompanytobeusedintheprocessingofproductsforexport;
7.CollectinginformationinthePhilippines;
and
8.Performingservicesauxiliarytoanexistingisolatedcontractofsalewhicharenotonacontinuingbasis,suchasinstallinginthePhilippinesmachineryithasmanufacturedorexportedtothePhilippines,servicingthesame,trainingdomesticworkerstooperateit,andsimilarincidentalservices.
g."
Exportenterprise"
shallmeananenterprisewhereinamanufacturer,processororservice[includingtourism]enterpriseexportssixtypercent[60%]ormoreofitsoutput,orwhereinatraderpurchasesproductsdomesticallyandexportssixtypercent[60%]ormoreofsuchpurchases.
h."
Exports"
shallmeanthevolumeofthePhilippineportF.O.B.pesovalue,determinedfrominvoices,billsoflading,inwardlettersofcredit,loadingcertificates,andothercommercialdocuments,ofproductsexporteddirectlybyanexportenterpriseorthevalueofservicesincludingtourismsoldbyservice-orientedenterprisestonon-residentforeignersorthenetsellingpriceofexportproductssoldbyanexportenterprisetoanotherexportenterprisethatsubsequentlyexportsthesame;
Provided,Thatsalesofexportproductstoanotherexportenterpriseshallonlybedeemedexportswhenactuallyexportedbythelatter,asevidencedbyloadingcertificatesorsimilarcommercialdocuments;
andProvided,finally,Thatwithoutactualexportation,thefollowingshallbeconsideredconstructivelyexportedforpurposesoftheAct:
[1]salesofproductstobondedmanufacturingwarehousesofexportenterprises;
[2]salesofproductstoexportprocessingzoneenterprises;
[3]salesofproductstoexportenterprisesoperatingbondedtradingwarehousessupplyingrawmaterialsusedinthemanufactureofexportproducts;
and[4]salesofproductstoforeignmilitarybases,diplomaticmissionsandotheragenciesand/orinstrumentalitiesgrantedtaximmunitiesoflocallymanufactured,assembledorrepackedproductswhetherpaidforinforeigncurrencyorpesosfundedfrominwardlyremittedforeigncurrency.
SalesoflocallymanufacturedorassembledgoodsforhouseholdandpersonalusetoFilipinosabroadandothernon-residentsofthePhilippinesaswellasreturningoverseasFilipinosundertheInternalExportProgramoftheGovernmentandpaidforinconvertibleforeigncurrencyinwardlyremittedthroughthePhilippinebankingsystemshallalsobeconsideredexports.
i.
Output"
shallrefertotheexportenterprise'
stotalsalesinataxableyear.Thetermsalesshallrefertothevalueincaseofheterogeneousproductsandvolumeincaseofhomogeneousproducts.
Heterogeneousproductsshallrefertoproductsofdifferentkindsandcharacteristicsaswellastothoseofthesamekindbutwithvariouscategoriesusingdifferentunitsofmeasurement.
Homogeneousproductsshallrefertoproductsofthesamekindorcategoryusingacommonunitofmeasurement.
j.
Exportratio"
shallreferto:
1.thepercentageshareofthevolumeorpesovalueofgoodsexportedtothetotalvolumeorvalueofgoodssoldinanytaxableyeariftheexportenterpriseisengagedinmanufacturingorprocessing;
2.thepercentageshareofthepesovalueofservicessoldtoforeignerstototalearningsorreceiptsfromthesaleofitsservicesfromallsourcesinanytaxableyeariftheexportenterpriseisservice-oriented;
Valueofservicessoldshallrefertothepesovalueofallservicesrenderedbyanexportenterprisetoforeignersthatarepaidforinforeigncurrencyand/orpesosfundedfrominwardlyremittedforeigncurrencyasproperlydocumentedbytheexportenterprise;
or
3.the
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