Learn when a foreign corporation must secure an SEC license to sue in the Philippines, based on “doing business” doctrine and recent rulings.
Foreign Corporations Suing in the Philippines: The Necessity of Securing an SEC License Read More »
Learn the resident agent requirement for foreign corporations in the Philippines, including service of summons rules, liabilities, and compliance steps.
Why Foreign Branches Need a Local Representative in the Philippines Read More »
Foreign branch office vs representative office in the Philippines: compare liability, funding, and tax treatment to match your revenue model and SEC registration.
How to Choose Between a Foreign Branch and a Representative Office in the Philippines Read More »
What conditions must a foreign corporation meet regarding its home country’s laws to be eligible to transact business in the Philippines? A foreign corporation is defined as one formed, organized, or existing under laws other than those of the Philippines (SEC. 140, Revised Corporation Code of the Philippines). Crucially, its laws must allow Filipino citizens
What key document must a foreign corporation submit with its application for a license, and what is required if it is not in English? A foreign corporation applying for a license to transact business in the Philippines must submit to the SEC a copy of its articles of incorporation and bylaws, certified in accordance with
What critical information regarding legal service must a foreign corporation disclose in its license application? The application for a license must specifically set forth the name and address of its resident agent authorized to accept summons and process in all legal proceedings (SEC. 142, Revised Corporation Code of the Philippines). This designation is mandatory, ensuring
What documentation is required to satisfy the SEC regarding a foreign corporation’s financial condition upon application for a license? The application for a license must be accompanied by a statement under oath of the president or any other authorized person of the corporation (SEC. 142, Revised Corporation Code of the Philippines). This statement must show,
What is the minimum value required for the securities deposit maintained by a licensed foreign corporation? Within sixty (60) days after the issuance of its license, the foreign corporation must deposit with the SEC securities for the benefit of present and future creditors in the Philippines (SEC. 143, Revised Corporation Code of the Philippines). These
When must a licensed foreign corporation deposit additional securities with the SEC? The SEC shall require the licensee to deposit additional securities if the licensee’s gross income for a fiscal year exceeds Ten million pesos (P10,000,000.00) (SEC. 143, Revised Corporation Code of the Philippines). The additional deposit required must be equivalent in actual market value
When must a licensed foreign corporation deposit additional securities with the SEC? Read More »
Who is qualified to be appointed as a resident agent for a foreign corporation? A resident agent may be either an individual residing in the Philippines or a domestic corporation lawfully transacting business in the Philippines (SEC. 144, Revised Corporation Code of the Philippines). An individual designated as a resident agent must meet personal standards,
Who is qualified to be appointed as a resident agent for a foreign corporation? Read More »
