Philippine Foreign Ownership Restrictions Eased for Investment Houses and Financial Firms

A new law now allows full or 100 percent foreign ownership in adjustment, lending, and financial companies, as well as investment houses. The new law also requires foreign-owned financing companies to have a paid-up capital of not less than P10 million for those located in Metro Manila and first class cities, P5 million for those in other classes of cities, and P2.5 million for those in municipalities. The Securities and Exchange Commission…

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