Foreign Investors Given One Year to Register Inward Fund Remittance

Foreign investors have been given a one-year grace period by the Bangko Sentral ng Pilipinas (BSP, Philippine central bank) to register their inward remittance of funds. Registration gives investors the flexibility in sourcing foreign exchange for outward remittance of capital withdrawn from investments in the country. Registration of foreign investments, however, remains optional on the part of the investor. Divestment proceeds from unregistered investments could still be remitted out provided the foreign exchange is…

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