About Investment Law in Makati City, Philippines
The investment law in Makaki City, Philippines, is set in the broader context of the national investment law of the Philippines. It governs and promotes investments in different sectors in Makati City, one of the primary business hubs in the country. Due to the city's economy, many multinational corporations, banks, and major business establishments choose to invest here. Investors, both local and foreign, need to adhere to specific regulations when conducting their investment activities, and these laws are continually updated to accommodate modern practices and foreign participation.
Why You May Need a Lawyer
Investment in Makati City, Philippines, can be a complex process due to the intricate legal framework that governs it. You may require a lawyer to guide you through business registration, getting permits, legal compliance with regulations, and ensuring your investment is protected. Additionally, if disputes or legal issues arise in relation to your investment, a lawyer well-versed in investment law can provide valuable assistance in resolving them.
Local Laws Overview
The Philippines’ key investment law, the Foreign Investments Act of 1991 (FIA), also applies to Makati City. This law encourages foreign investment by allowing non-Filipinos to invest 100% equity in businesses, except for those listed in the Foreign Investment Negative List (FINL). Moreover, the ease of doing business act of 2018 simplifies the business registration process, reducing processing time and the number of required signatures. The Special Economic Zone Act also provides numerous incentives for companies located in designated areas. Local ordinances on top of these national laws regulate businesses and investment in Makati City.
Frequently Asked Questions
What is the minimum investment for a foreign investor?
The Foreign Investments Act generally requires a minimum investment of $200,000 for enterprises that are wholly owned by foreign investors.
Are there incentives for foreign investors?
Yes, through the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA), the government provides incentives such as tax holidays and duty-free importation of capital equipment.
Can a foreign investor own land in the Philippines?
No, foreign investors cannot own land in the Philippines. However, they can lease land for a long period, and they can own condominium units as long as the total floor area of foreign-owned units in a project does not exceed 40%.
What is the Foreign Investment Negative List (FINL)?
The FINL is a list of economic activities where foreign investment is not allowed or limited. It includes areas of investment that are reserved for Filipino nationals.
What happens if there is a dispute between an investor and the government?
Investment disputes are generally handled through local courts. However, international investors may also resolve disputes through international arbitration, depending on the provisions in the relevant investment agreement.
Additional Resources
The Board of Investments (BOI), Philippine Economic Zone Authority (PEZA), and the Securities and Exchange Commission (SEC) are government agencies that provide resources about laws, rules, and regulations on investments. Additionally, Makati City's business permits and licensing office can assist in understanding local ordinances affecting your investment.
Next Steps
If you need legal assistance in investment, begin by researching credible law firms in Makati City specializing in investment law. Take time to evaluate their services, experience, and reviews from past clients. It would be beneficial to schedule a consultation with them to discuss your case. Remember, understanding the investment climate and legal system can significantly impact your business's growth and success.
Lawzana helps you find the best lawyers and law firms in Makati City through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Investment, experience, and client feedback.
Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters.
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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
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