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Sector or Sub-sector Limitations on Market Access Limitations on National Treatment Additional Commitments Notes
Philippines
All executive and managing officers b) corporations, more than 40 per cent of
must be citizens of the Philippines. whose total subscribed capital stock is
owned by non-Filipino citizens.
Acquisition of Land
This requirement does not apply to banks
All lands of the public domain are and non-bank financial intermediaries.
owned by the State.
Sector or Sub-sector Limitations on Market Access Limitations on National Treatment Additional Commitments Notes
Entry and Temporary Stay 4) Non-resident aliens may be admitted 3) Access to Domestic Credit
of Natural Persons to the Philippines for the supply of a
Supplying Services service after a determination of the A foreign firm, engaged in
non-availability of a person in the non-manufacturing activities availing itself
Philippines who is competent, able of peso borrowings, shall observe, at the
and willing, at the time of application, time of borrowing, the prescribed 50:50
to perform the services for which the debt-to-equity ratio. Foreign firms covered
alien is desired. *1 are: