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 by the local investee/beneficiary/or the local seller/issuer of the investment instruments,such as a Sworn Certification on such receipt and issuance of shares in consideration thereof (for investment in stock corporations); stockbroker’s purchase invoice or subscription agreement (for PSE-listed shares); accredited dealer’s Confirmation of Sale (for government securities); Certificate of Time Deposit (for peso time deposits with tenor of 90 days or longer); and contract/certificate of investment (for peso-denominated debt instruments). (For the complete registration procedure and documentation requirement, you may refer to the Appendix 10 of the FX Manual.)

All applications for registration of FDIs that are to be filed directly with the BSP, through the IOD, shall be supported by a duly accomplished application form (Annex W of the FX Manual).