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Guide philippines Guide to Doing Business Philippines Prepared by Lex Mundi member ?rm Romulo Mabanta Buenaventura Sayoc De Los Angeles This guide is part of the Lex Mundi Guides to Doing Business series which provides general information about legal and

Guide to Doing Business Philippines Prepared by Lex Mundi member ?rm Romulo Mabanta Buenaventura Sayoc De Los Angeles This guide is part of the Lex Mundi Guides to Doing Business series which provides general information about legal and business infrastructures in jurisdictions around the world View the complete series at www lexmundi com GuidestoDoingBusiness Lex Mundi is the world ? s leading network of independent law ?rms with in-depth experience in countries Through close collaboration our member ?rms are able to o ?er their clients preferred access to more than lawyers worldwide ?? a global resource of unmatched breadth and depth Lex Mundi ?? the law ?rms that know your markets www lexmundi com CA G UIDE TO D OING B USINESS IN THE P HILIPPINES R OMULO M ABANTA B UENAVENTURA S AYOC DELOS A NGELES CTable of Contents Introduction The Foreign Investments Act Modes of Doing Business Domestic Subsidiary Branch Representative O ?ce Regional or Area Headquarters Regional Operating Headquarters Joint Venture Purchase of Shares in an Existing Corporation Merger or Consolidation Technology Transfer Arrangement Management Contract Incentives to Foreign Investment Board of Investments Special Economic Zones Incentives in Other Laws Relevant Laws Exchange Controls Taxation Labor Immigration Anti-trust Intellectual Property E-commerce Product Liability Firm Background Annexes CChapter Introduction Legal system The Philippine legal system is a peculiar mixture of civil law common law indigenous customary law and contemporary law designed to meet current conditions with a separate and distinct Muslim legal system operating for the Muslim minority To have a genuine grasp of the Philippine legal system it must be pointed out that the Philippines had been under four centuries of Spanish domination and about half a century of American political administration Spanish law is civil law and American law is common law If one asks whether the legal system is predominantly civil law or common law the answer will depend on one ? s orientations One jurist-writer has de ?nitely stated that the country follows the civil law system But even years before that statement Mr Justice George A Malcolm speaking for the Supreme Court in a decision had made clear after describing his exhaustive jurisprudential investigation that what we have is a Philippine common law all its own In re Shoop PHIL Malcolm J Although regardless of how one looks at the nature of the Philippine legal system it is generally agreed that First laws hold an ascendancy over judicial decisions in that courts have to apply them and are forbidden to challenge their wisdom which is an exclusive function of the legislature Second in the rare event that courts declare laws unconstitutional the courts cannot still replace the legislation that they have voided Third Philippine courts are both courts of law and of equity a term broadly de ?ned by Justice J B L Reyes as ??justice according to natural law and right ? Justice Jose B L Reyes The Trend Toward Equity versus Positive Law in Philippine Jurisprudence Analytical Survey of Selected Supreme