Filipino contractor definition
Filipino contractor means a construction contractor, who is a citizen of the Philippines, or a corporation or other juridical entity, of which, in the case of a corporation, at least sixty percent (60%) of its capital stock outstanding and entitled to vote, is owned and held by citizens of the Philippines and at least sixty per cent (60%) of the Board of Directors thereof are citizens of the Philippines, and in the case of any other juridical entity, at least sixty percent (60%) of its equity is owned and held by citizens of the Philippines.