In an era of globalization, the dynamics of international investment in domestic enterprises have considerably evolved, manifesting through various statutory instruments and regulatory forms, among which the S.E.C. Form No. F-102 plays a pivotal role for registered corporations in the Philippines seeking to expand their horizons by inviting greater foreign participation. Geared towards corporations with more than 40% foreign equity, the form serves as a formal application under the aegis of the Foreign Investments Act of 1991 (RA 7042, as amended), providing a structured pathway for these entities to increase their foreign equity share beyond the existing thresholds. The form requires comprehensive details about the corporation, including its registration information with the Securities and Exchange Commission (SEC), the current percentage of foreign equity, the proposed increase, and the primary purpose of the enterprise, along with a distinction between domestic market and export market enterprises, each subjected to different capital requirements. In facilitating the increase in foreign equity, the form outlines various mechanisms such as the assignment of Filipino stockholdings to non-Philippine nationals, issuance of new stocks, adjustment in the authorized capital stock, and options like mergers or consolidations. The submission mandates include a declaration of the corporation's authorized, outstanding, and paid-up capital stock, underscoring the legal and fiscal undertakings intrinsic to such international financial maneuverings. Hence, the S.E.C. Form No. F-102 not only encapsulates the legal framework for increasing foreign equity in Philippine corporations but also delineates the economic strategy of the nation in securing foreign investments while ensuring compliance with the country's legal statutes and economic policies.
| Question | Answer |
|---|---|
| Form Name | S E C Form F 102 |
| Form Length | 2 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 30 sec |
| Other names | indorsements, 1991, affiant, P5000 |
S.E.C. FORM NO. F- 102
For registered corporation with more than 40% foreign equity increasing further the percentage of such equity
APPLICATION OF AN EXISTING CORPORATION TO INCREASE ITS FOREIGN EQUITY UNDER THE FOREIGN INVESTMENTS ACTS OF 1991
_______________________________________________________
(Name of Corporation)
hereby applies for authority to increase the percentage of foreign equity participation under the Foreign Investments Act of 1991 (RA 7042, as amended) and submits the following statements and accompanying documents:
1.That the applicant is a corporation registered with this Commission, with SEC Reg. No. __________________ issued on
______________________ and operates a
( |
) |
domestic market enterprise |
* |
( |
) |
export market enterprise |
** |
2.That the principal office of the corporation is in
________________________________________________________________________
(specific address)
3.That the present foreign equity of the applicant is
___________________________________ (__________%).
4.That the applicant shall increase the percentage of its foreign equity to ______________________________ percent (_________%).
5.That the primary purpose of said corporation is
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
(Please use additional sheet if necessary)
*domestic market enterprise – an enterprise which produces goods for sale, or renders services or otherwise engages in any business in the Philippines. This requires minimum
**export market enterprise – an enterprise wherein a manufacturer, processor or service (including tourism enterprise exports sixty (60%) percent or more of its output, or wherein a trader purchases products domestically or exports sixty (60%) percent or more of such purchase. Minimum
6.That the increase in foreign equity shall be undertaken
through:
() assignment of Filipino stockholdings to
() issuance of new stocks from the unsubscribed capital stock
() increase/decrease of authorized capital stock
() merger or consolidation
() others __________________________________
7.That the present authorized, outstanding and
AUTHORIZED |
OUTSTANDING |
|
P_________________________ |
P _________________________ |
P _________________________ |
IN WITNESS WHEREOF, I, the authorized representative of the applicant, hereby signed this application this ______ day of ____________,
200___ in ____________________________.
____________________________________________
(Signature over printed name of Authorized Representative)
_________________________________
Position |
|
SUBSCRIBED AND SWORN TO before me this |
_______ day of |
____________, 200____, affiant exhibiting to me his/her Community Tax
Certificate No. ______________ issued at _____________________ on
____________________.
NOTARY PUBLIC
Doc. No. ____________;
Page No. ____________;
Book No. ____________;
Series of 200 ________.
NOTE:
•Only applications with complete supporting documents including proper indorsements from appropriate government agencies shall be accepted.
•All documents executed abroad should be authenticated by the Philippine Embassy or Consulate in the country where executed.
•Submit six (6) copies
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