Grace Period for the Registration of Foreign Investments with the Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas (BSP) is reminding the public that under Circular No. 1030 dated 5 February 2019 (which became effective on 8 March 2019), the BSP provided a one (1) year grace period (from 8 March 2019 to 7 March 2020) during which unregistered foreign investments [listed under Section 36 of the Manual of Regulations on Foreign Exchange Transactions (FX Manual), as amended] existing as of the effectivity date of said Circular may be applied for registration with the BSP, regardless of the date of funding, without processing fee. Foreign investors or their authorized representatives may, within the remaining duration of the grace period, submit a duly accomplished Application for Registration of Foreign Investments (Annex W of the FX Manual) together with the documents required under Appendix 10.C of the FX Manual. After said period, the one (1) year prescriptive period for the registration of foreign investments under Section 36 of the FX Manual shall apply.

Concerned parties are, therefore, advised to file their requests for registration soonest to avoid crowding of applications towards the end of the grace period. Applications will be processed on a first-come, first-served basis, provided all requirements are complied with.

Source: Bangko Sentral ng Pilipinas