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SEC Requires Tax Identification Number for Foreign Investors 

Published: February, 2013

Submission: February, 2013

 



The Philippine Securities and Exchange Commission (SEC) issued Memorandum Circular No. 1, s. 2013 dated 7 January 2013, requiring the incorporation of the tax identification number (TIN) of foreign investors in all forms papers and documents filed with the SEC.

Under the Circular, the SEC will not accept documents to be filed by corporations and partnerships after their formation  (such as the annual General Information Sheets)  unless the TIN of all their foreign investors (whether natural or juridical persons, residents or non-residents) are indicated therein. The SEC will also not accept applications for amendments of articles of incorporation and by-laws of corporations or articles of partnership, unless the TIN of the foreign investors are indicated in the relevant documents

The SEC will not accept applications for incorporation of a corporation or the registration of a partnership, unless the TIN or the passport number of all the foreign investors are indicated in the relevant documents.




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