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
ON REQUIRED DEPOSITS FOR SPECIAL RESIDENT RETIREE’S VISA
The required visa deposit for Special Resident Retiree’s Visa depends on the option availed of by the applicant
There are options in availing Special Resident Retiree’s Visa
The visa deposit may be used for investment purpose
AUTHORITY TO FREEZE UNDER ANTI-MONEY LAUNDERING ACT
The Court of Appeals may issue a freeze order for any monetary instrument or property which is in any way related to an unlawful activity.
The freeze order shall be effective immediately and it shall not exceed six (6) months depending upon the circumstances of the case.
A person whose account has been frozen may file a motion to lift the freeze order and the court must resolve this motion before the expiration of the freeze order.
WHAT IS LIMITED PARTNERSHIP?
Limited partnership is one formed by two or more persons having as members one or more general partners and one or more limited partners
Limited partners are not bound by the obligations of the partnership
The contributions of a limited partner may be cash or property, but not services
MAY FOREIGN NATIONALS WHO HAVE NOT SERVED IN THE PHILIPPINES BE ELIGIBLE TO APPLY FOR SPECIAL RESIDENT RETIREE’S VISA?
The Special Resident Retiree’s Visa (SRRV) entitles the holder to multiple-entry privileges
Foreign nationals who have not served in the Philippines may now apply for Special Resident Retiree’s Visa
Additional dependents of said foreign national may be allowed to enter in the Philippines