The topics below may be relevant to your daily activities, especially those which involve business law, labor law, and other legal areas of your business.
Business Law and Labor Law Updates
WHAT IS EMIGRATION CLEARANCE CERTIFICATE?
An Emigration Clearance Certificate (ECC) is a pre-departure document issued to foreign nationals
ECC is a proof that foreign nationals have no derogatory records in the Philippines
ECC is valid only for a month from the date of its issuance
DOCUMENTATION OF IMMIGRANTS
Immigrants must present for admission into the Philippines their unexpired passports
Children born subsequent to the issuance of the valid immigration visa of an accompanying parent shall not be subject to documentary requirements
An immigration visa obtained by fraud shall be subject to cancellation by the issuing officer
WHO MAY BE ADMITTED AS NON-IMMIGRANT UNDER THE PHILIPPINE IMMIGRATION ACT OF 1940?
A temporary visitor coming for business or for pleasure or for reasons of health may be admitted in the Philippines as a non-immigrant
Non-immigrants must present for admission into the Philippines their unexpired passports
A passport visa shall not be granted to an applicant whose entry into the Philippines would be contrary to the public safety
DIVIDEND DISTRIBUTION UNDER REAL ESTATE INVESTMENT TRUST (REIT)
A Real Estate Investment Trust (REIT) shall distribute annually, a total of at least ninety percent (90%) of its Distributable Income as dividends to its shareholders.
The dividends shall be distributed not later than the last working day of the fifth (5th) month following the close of the fiscal year of the REIT.
The dividends shall be payable only from the unrestricted retained earnings of the REIT.