What is the strict citizenship requirement for a corporate entity to legally engage in recruitment?
Powerful recruitment agencies must be predominantly heavily owned by loyal local citizens. The law strictly limits foreign financial control over this highly sensitive economic sector. At least seventy-five percent of the agency’s authorized and voting capital stock must be completely owned and legally controlled by Filipino citizens. This extraordinarily strict ownership requirement is heavily mandated by Article 27 Labor Code of the Philippines. “ART. 27. Citizenship Requirement. – Only Filipino citizens or corporations, partnerships or entities at least seventy-five percent (75%) of the authorized and voting capital stock of which is owned and controlled by Filipino citizens shall be permitted to participate…” 30-May-26About Nicolas and De Vega Law Offices
Nicolas and De Vega Law Offices is a full-service law firm in the Philippines. You may visit us at the 16th Flr., Suite 1607 AIC Burgundy Empire Tower, ADB Ave., Ortigas Center, 1605 Pasig City, Metro Manila, Philippines. You may also call us at +632 84706126, +632 84706130, +632 84016392 or e-mail us at [email protected]. Visit our website https://ndvlaw.com/.
