LAW 101: 7th Regular Foreign Investment Negative List

The following areas/activities have foreign ownership limitations, to wit:

No foreign ownership
1. mass media except recording
2. practice of professions (engineering, medicine/allied professions, accountancy, architecture, criminology, chemistry, customs brokerage, environmental planning, forestry, geology, interior design, landscape architecture, law, librarianship, marine deck officers, marine engine officers, master plumbing, sugar technology, social work, teaching, agriculture, fisheries)
3. retail trade enterprises with paid-up of less than USD 2.5M
4. cooperatives
5. private security agencies
6. small-scale mining
7. utilization of marine resources in archipelagic waters, territorial sea, and exclusive economic zone as well as small-scale utilization of natural resources in rivers, lakes, bays and lagoons
8. ownership, operation and management of cockpits
9. manufacture, repair, stockpiling and/or distribution of nuclear weapons
10. manufacture, repair, stockpiling and/or distribution of biological, chemical and radiological weapons and anti-personnel mines
11. manufacture of firecrackers and other pyrotechnic devices

Up to 20% foreign ownership
1. private radio communications network

Up to 25% foreign ownership
1. private recruitment for local or overseas employment
2. contracts for the construction and repair of locally-funded public works (except infrastructure projects under R.A. 7718; and foreign-funded or assisted projects required to undergo international competitive bidding)
3. contracts for construction of defense-related structures

Up to 30% foreign ownership
1. advertising

Up to 40% foreign ownership
1. exploration, development and utilization of natural resources
2. ownership of private lands
3. operation and management of public utilities
4. ownership/establishment and administration of educational institutions
5. culture, production, milling, processing, trading, except retailing, of rice and corn and acquiring, rice and corn and their by-products
6. contracts for the supply of materials, goods and commodities to GOCCs, gov’t agencies or municipal corps.
7. project proponent and facility operator of a BOT project requiring public utility franchise
8. operation of deep sea commercial fishing vessels
9. adjustment companies
10. ownership of condo units where condo common areas are co-owned by owners of the separate units or by a corp.
11. manufacture, repair, storage and/or distribution of products/ingredients requiring PNP clearance
12. manufacture, repair, storage and/or distribution of products/ingredients requiring DND clearance

Up to 60% foreign ownership
1. SEC-regulated financing companies
2. SEC-regulated investment houses

Source:
E.O. 584, December 8, 2006.