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Sec Form 103

This document is an application from a foreign corporation to establish a branch office in the Philippines. It provides information such as the name and address of the corporation, the location of its principal office, the name and address of its resident agent in the Philippines, the purpose of establishing a branch office, and financial details such as authorized and issued capital stock. The corporation commits to export at least 60% of its total annual output and authorize government agencies to examine financial records. The resident agent signs the application, which is notarized.

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404 views

Sec Form 103

This document is an application from a foreign corporation to establish a branch office in the Philippines. It provides information such as the name and address of the corporation, the location of its principal office, the name and address of its resident agent in the Philippines, the purpose of establishing a branch office, and financial details such as authorized and issued capital stock. The corporation commits to export at least 60% of its total annual output and authorize government agencies to examine financial records. The resident agent signs the application, which is notarized.

Uploaded by

Minerva_Athena
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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APPLICATION OF A FOREIGN CORPORATION

TO ESTABLISH A BRANCH OFFICE IN THE PHILIPPINES

______________________________________________
(Name of Corporation)

Hereby applies for a license to transact business in the Philippines as a


branch office under the name
________________________________________ under Section
125 of Batas Pambansa Blg.68 and Foreign Investment Act of 1991 (RA
7042, as amended) and submits the following statements and
accompanying documents:
1. The applicant is a corporation organized under the laws of
_______________ on ________________ for a term of
__________________________ and intends to operate a
( ) domestic market enterprise *
( ) export market enterprise **
2. The location of its principal office is at
_______________________________________________.
(complete address of home country)
3.
__________________________________________________,
___________ with residence or office address at
_______________________________________ is its resident
agent in the Philippines, authorized to accept summons and legal processes
in all legal proceedings and, all notices affecting the corporation.
4. The corporation shall hold office in _________(Specify place in the
Phils.)_______________ and operate in ______________________
5. The purpose(s) of said corporation which it intends to pursue in the
transaction of its business in the Philippines is/are
___________________________________________________
___________________________________________________
___________________________________________________
___________________________________________________

6. The names and addresses of the present directors and officers of the
corporation are as follows:

NAME ADDRESS
7. The authorized capital stock of the corporation is
_______________________ roughly equivalent to
P_____________________ and the aggregate number of shares which
corporation has authority to issue is
______________________________ (itemized by classes & series, if any)
8. The outstanding capital stock of the corporation is
_______________________ and the aggregate number of shares
which the corporation has issued is___________________(itemized by
classes & series, if any) all of which are of a par value of ______________.
9. The amount actually paid in the treasury of the foreign corporation is
___________________________________________________.
10. That the applicant or its alien subscriber(s)/ partner(s) who are
stockholders/partners of an existing corporation/partnership in the
Philippines which is engaged in the same line of business as that of the
applicant are as follows:

NAME NAME OF PERCENTAGE OF NO. OF


CORPORATION SHAREHOLDINGS DIRECTORS/
PARTNERSHIP PARTNERS

11. That as an export enterprise, the applicant undertakes to export at least


60% of its total output as indicated hereunder and commits to submit report
of such export to the Board of Investments as required by the Implementing
Rules of RA 7042 as amended:

YEAR TOTAL PROJECTED DOMESTIC EXPORT


PRODUCTS SALES
EXPORT VOLUME/VALUE*** SALES SALE %

12. That we hereby authorize the Securities and Exchange Commission


and the Bangko Sentral ng Pilipinas to examine and verify the deposit in
the _______(Name of Bank)_______________ in the
_____________________ of said amount of _______________
which is equivalent to ___________________
(P___________________) at the current rate of exchange, representing
the actual remittance of the applicant. This authority is valid and inspection
of said deposit may be made even after the issuance of the license of the
company.

13. That we undertake to change our corporate name as herein provided, or


as amended thereafter, immediately upon receipt of notice or directive from
the Commission that another corporation, partnership or person has
acquired a prior right to the use of that name or that the name has been
declared misleading, deceptive, confusingly, similar to registered name, or
contrary to public morals, good custom or public policy.
Done this __ day of ____________, 2016 at __________________.

______________________________
Signature over printed name of the Resident agent

SUBSCRIBED AND SWORN TO before me, this _____ day of


____________. 2016 affiant exhibiting to me his/her Government issued
IDs ________________ issued at ________________ on
______________________.

NOTARY PUBLIC

Doc No. ________


Page No.________
Book No.________
Series of 2016

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