The registration of foreign investments (i.e., those made by non-residents) with the BSP or with investor’s designated custodian bank on behalf of the BSP is optional. It is required only if the FX needed to fund the repatriation of capital and the remittance of earnings thereon will be purchased from authorized agent banks (AABs) / continue reading : Is the registration of foreign investments with the BSP mandatory?
BSP registration will authorize the foreign investor or his duly authorized representative to purchase FX from AABs/AAB-forex corps to repatriate capital and/or remit dividends/profits/earnings accruing on BSP-registered investments in FX. The Bangko Sentral Registration Document (BSRD) is one of the prescribed documents to support an application to buy FX from AABs/AAB-forex corps in the Philippines continue reading : What is the benefit of such BSP registration to investors?
Inward foreign direct investments (FDIs) and investments in peso-denominated debt instruments issued onshore by private resident firms (not covered by Section 23) as defined under Sections 34 and 35.4 of the Manual of Regulations on FX Transactions (FX Manual) shall be registered directly with the BSP. Inward remittances of FX funding the FDIs need not continue reading : What categories of foreign investments are required to be registered directly with the BSP, and what may be registered with the investor’s designated custodian bank on behalf of the BSP?
First, as a general rule, there must be an inward remittance of FX as evidenced by a duly accomplished Certificate of Inward Remittance of FX (for cash investments), or proof of transfer of assets to the investee/beneficiary firm in the Philippines (for investments in kind). Second, there must be evidence of receipt of the funds/assets continue reading : What are the basic requirements for BSP registration of foreign investments?
All applications for registration of FDIs (under Section 34 of the FX Manual) shall be filed with the BSP within one (1) year from the date of inward remittance/actual transfer of assets to the Philippines. However, this one-year prescriptive period shall commence on 19 April 2015. Prior to that, all applications for registration of FDI continue reading : Is there a prescriptive period for the filing of applications for registration of FDIs with the BSP?