Guidelines for the Investment Requirement of Foreign Corporations under Section 126 of the Corporation Code of the Philippines

April 23, 1982GUIDELINES FOR THE INVESTMENT REQUIREMENT OF FOREIGN CORPORATIONS UNDER SECTION 126 OF THE CORPORATION CODE OF THE PHILIPPINESThe following guidelines are hereby promulgated for the information and guidance of all foreign corporations duly licensed to do business in the Philippines pursuant to Section 126 in relation to Section 148 of the Corporation Code of the Philippines. cdrepSECTION 1. Scope of applicability. — Presently existing foreign corporations duly licensed to do business in the Philippines as of May 1, 1980 shall deposit securities satisfactory to the Philippine Securities n and Exchange Commission with an actual market value of P100,000.00 by May 1, 1982. Other foreign corporations duly licensed after May 1, 1980 and such foreign corporations as may be heretofore be licensed in the future shall also deposit similar securities with an actual market value of P100,000.00 within sixty (60) days from the issuance of license to do business in the Philippines.However, the following corporations need not comply with the investment requirement prescribed in Section 126 of the Corporation Code of the Philippines:1. Foreign...