Only one person is required to form a corporation in the Philippines

January 30, 2019

The enrolled copies of Senate Bill No. 1280 and House Bill No. 8374 (An Act Amending the Corporation Code of the Philippines) were already submitted on January 28, 2019 to the Presidential Legislative Liason Office for signature of President Rodrigo Duterte. I am expecting that this new corporation code will be signed into law in the next few days.

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Updates on Doing Business in the Philippines

November 7, 2018

President Rodrigo R. Duterte recently signed Executive Order No. 65 promulgating the 11th Regular Foreign Investment Negative List (RFINL). Under EO No. 65, certain businesses where foreign investors are used to be forbidden to own completely are now allowed 100% foreign ownership in such businesses.

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GUZMAN ACAIN advises on aviation acquisition

September 16, 2015

GUZMAN ACAIN has advised longtime client Huma Aviation Group on the proposed acquisition of Subic Seaplane Inc. The acquisition, which is subject to ownership clearances by the Civil Aeronautics Board, will be made by Huma Aviation Group, a consortium of a local partner and foreign investors. The consideration for the acquisition has not been disclosed. Subic Seaplane Inc. is the first company that has been issued a Certificate of Public Convenience by the Civil Aeronautics Board and Air Operator Certificate by the Civil Aviation Authority of the Philippines to operate amphibian aircraft and seaplanes for non-scheduled air transport services. Its hangar and facilities, which are included in the acquisition, is located at Lot 14, Argonaut Highway, Subic Bay, Subic Bay Freeport Zone, Olongapo, 2200 Zambales. This is owned by Michael Lawrence O’Farrel, American Veteran, and a licensed Pilot. The GUZMAN ACAIN team was led by corporate lawyer and managing partner Alex Llanes Acain Jr. with assistance from other lawyers of the firm. For further information please contact Alex Llanes Acain Jr., Managing Partner, on Mobile +63917 500 2878 or (02) 4033478 or email alexacain@gtalawphil.com.

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GUZMAN TAÑEDO ACAIN advises on the acquisition, construction and operation of an island resort in Palawan

July 8, 2008

GTA LAW has advised a foreign investor-client in the acquisition, construction and operation of a five-star resort in the island of Palawan. The acquisition and construction of the island resort is a joint venture between a foreign investor and a local partner and the operation of the five-star island resort will be managed by a world renowned hotel and resort brand. The consideration for the acquisition and total project cost of the construction have not been disclosed. The Island Resort which will be opened to the public very soon will be called Huma Island Resort and Spa (www.humaisland.com). The GTA LAW team was led by Managing Partner Alex Llanes Acain Jr. with assistance from other lawyers of the Firm. For further information please contact Alex Llanes Acain Jr., Managing Partner, on Mobile +63917 500 2878 or (02) 4033478 or email alexacain@gtalawphil.com

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