363442356-Negative-List.docx - Doing business in the...

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Doing business in the Philippines: Philippine Foreign Investment Negative List LIST A: FOREIGN OWNERSHIP IS LIMITED BY MANDATE OF THE CONSTITUTION AND SPECIFIC LAWS No Foreign Equity Mass media except recording (Art. XVI, Sec.11 of the Constitution; Presidential Memorandum dated 05 May 1994) Practice of Professions (Art. XII, Sec. 14 of the Constitution, sec. 1 of RA 5181, Sec. 7.j of RA 8981) o Pharmacy (RA 5921) o Radiologic and x-ray technology (RA 7431) o Criminology (RA 6506) o Forestry (RA 6239) o Law (Art. VIII, Section 5 of the Constitution; Rule 138, sec. 2 of the Rules of Court of the Philippines) Retail trade enterprises with paid-up capital of less than US$ 2,500,00 (Sec. 5 of RA 8762) Cooperatives (Ch. III, Art. 26 of RA 6938) Private Security Agencies (Sec. 4 of RA 5487) Small-scale Mining (Sec. 3 of RA 7076) Utilization of Marine Resources in archipelagic waters, territorial sea, and exclusive economic zone as well as small-scale utilization of natural resources in rivers, lakes, bays, and lagoons (Art. XII, Sec 2. Of the Constitution) Ownership, operation, and management of cockpits (Sec. 5 of PD 449) Manufacture, repair, stockpiling, and/or distribution of nuclear weapons (Art. II, Sec. 8 of the Constitution) Manufacture, repair, stockpiling, and/or distribution of biological, chemical and radiological weapons, and anti-personal mines (various treaties to which the Philippines is a signatory and conventions supported by the Philippines) Manufacture of firecrackers and other pyrotechnic devices (Sec. 5 of RA 7183) Up to Twenty Percent (20%) Foreign Equity Private radio communication network (RA 3846) Up to Twenty-Five Percent (25%) Foreign Equity Private recruitment, whether for local or overseas employment (Art. 27 of PD
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