Common Contracts
1 similar Asean-China Agreement on Trade in Services contracts
THE PHILIPPINESAsean-China Agreement on Trade in Services • March 13th, 2009
Sector/subsector Limitations on Market Access Limitations on National Treatment Additional Commitments HORIZONTAL SECTION All Sectors included in this Schedule 3) In Activities Expressly Reserved by Law to Citizens of the Philippines (i.e., foreign equity is limited to a minority share): The participation of foreign investors in the governing body of any corporation engaged in activities expressly reserved to citizens of the Philippines by law shall be limited to the proportionate share of foreign capital of such entities. All executive and managing officers must be citizens of the Philippines. Acquisition of Land All lands of the public domain are owned by the State. Only citizens of the Philippines or corporations or associations at least 60 per cent of whose capital is owned by such citizens may own land other than public lands and acquire public lands through lease Foreign investors may lease only private lands. 3) Access to Domestic Credit A foreign firm, engaged in non- manuf
