Philippines eases minimum paid-up capital for foreign retailers

The Philippines has lowered the minimum paid up capital to $488,000 from $25m.

Philippine President Rodrigo Duterte has signed a law amending the Retail Trade Liberalisation Act of 2000 by easing restrictions to foreign retailers by lowering their required paid-up capital.

Under Republic Act No. 11595, foreign retailers can enter the country by having a minimum paid-up capital of around $488,000 (Php25m) from the previous $25m requirement.

If the foreign retailer has more than one physical store, each store must have a minimum investment of around $195,000 (Php10m). 

Foreign retailer’s country of origin should also not prohibit the entry of Filipino retailers, according to the law.  The retailers should also maintain in the Philippines the minimum paid-up capital.

The law was signed on 10 December but was released early this year. 

$1= Php51.52