August 23, 1960
CBP MEMORANDUM
TO : Authorized Agents ECD No. 17-60
Authorized Agents are hereby advised that they may sell foreign exchange at the free market rate to intending emigrants at the time of their departure from the Philippines out of their savings and proceeds of sale of their assets in the Philippines up to a maximum of $3,000.00 per family provided said emigrants can fully substantiate ownership of the assets and subject to the presentation of the following papers and/or documents: LLphil
1. Travel Papers (For verification only) —
a. Passport
b. Tax Clearance Certificate
c. For Philippine citizens — valid visa for permanent residence in the country of destination
For aliens — Emigration Clearance Certificate (indicating no re-entry permit)
2. Full Statement of Assets and Liabilities —
Supported by transcripts or photostatic copies of applicant's bank accounts.
3. Income Tax Returns —
For those years in which the cash and other assets had been accumulated certified to by the Income Tax Division of the Bureau of Internal Revenue. LLphil
4. Copy of the Deed of Sale —
Duly registered and certified to by the Register of...