Legal Answers

Brief Answers to Specific Questions about Philippine Law

What is the principle regarding the applicability of Philippine laws to a foreign corporation lawfully doing business in the country?

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What is the principle regarding the applicability of Philippine laws to a foreign corporation lawfully doing business in the country? A foreign corporation lawfully transacting business in the Philippines shall be bound by all laws, rules and regulations applicable to domestic corporations of the same class (SEC. 146, Revised Corporation Code of the Philippines). This […]

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What is the deadline and marking requirement for a foreign corporation to file amendments to its articles of incorporation or bylaws?

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What is the deadline and marking requirement for a foreign corporation to file amendments to its articles of incorporation or bylaws? Whenever the articles of incorporation or bylaws of a licensed foreign corporation are amended, the corporation must file an authenticated copy of the amended documents with the SEC within sixty (60) days after the

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What action is required if a licensed foreign corporation changes its corporate name or desires to pursue additional purposes?

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What action is required if a licensed foreign corporation changes its corporate name or desires to pursue additional purposes? A foreign corporation authorized to transact business in the Philippines must obtain an amended license in the event it changes its corporate name (SEC. 148, Revised Corporation Code of the Philippines). The same requirement applies if

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What is the restriction on a foreign corporation’s ability to maintain or intervene in legal actions in the Philippines without a license?

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What is the restriction on a foreign corporation’s ability to maintain or intervene in legal actions in the Philippines without a license? No foreign corporation transacting business in the Philippines without a license, nor its successors or assigns, shall be permitted to maintain or intervene in any action, suit, or proceeding in any court or

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What are the grounds upon which the SEC may revoke or suspend the license of a foreign corporation?

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What are the grounds upon which the SEC may revoke or suspend the license of a foreign corporation? The SEC may revoke or suspend a foreign corporation’s license for several reasons, without prejudice to other special laws (SEC. 151, Revised Corporation Code of the Philippines). Grounds include failure to file its annual report or pay

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What mandatory documentation must accompany the articles of incorporation of a corporation sole upon filing with the SEC?

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What mandatory documentation must accompany the articles of incorporation of a corporation sole upon filing with the SEC? The articles of incorporation for a corporation sole must be verified by affidavit or affirmation of the chief archbishop, bishop, priest, minister, rabbi, or presiding elder (SEC. 110, Revised Corporation Code of the Philippines). This document must

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What are the four grounds upon which the SEC may dissolve a corporation involuntarily?

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What are the four grounds upon which the SEC may dissolve a corporation involuntarily? A corporation may be dissolved involuntarily by the SEC motu proprio or upon the filing of a verified complaint by any interested party (SEC. 138, Revised Corporation Code of the Philippines). Grounds for dissolution include the non-use of the corporate charter

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What must a corporation sole do before it can sell or mortgage real property held by it?

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What must a corporation sole do before it can sell or mortgage real property held by it? A corporation sole may purchase and hold real and personal property for its church or benevolent purposes, and it may receive bequests or gifts for such purposes (SEC. 111, Revised Corporation Code of the Philippines). However, before it

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What is the exception to the rule requiring court intervention for the alienation of property by a corporation sole?

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What is the exception to the rule requiring court intervention for the alienation of property by a corporation sole? Court intervention is generally required for a corporation sole to sell or mortgage real property, necessitating an order from the Regional Trial Court (SEC. 111, Revised Corporation Code of the Philippines). However, this intervention shall not

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How is a vacancy in the office of the chief archbishop or presiding elder of a corporation sole filled?

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How is a vacancy in the office of the chief archbishop or presiding elder of a corporation sole filled? The successors in office of any chief archbishop, bishop, priest, minister, rabbi, or presiding elder shall become the corporation sole on their accession to office (SEC. 112, Revised Corporation Code of the Philippines). They are then

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