Company: YDDL
Filing Date: 2025-01-21
Form Type: F-1
Source: 0001213900-25-004967
Chunk: 93

Company: One & one Green Technologies. INC
Filing Date: 2025-01-21
Form: F-1
Chunk 93
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 DTI, whichever is appropriate. Failure to maintain in the Philippines the paid -upcapital required in the preceding paragraph, prior to notification of the SEC or the DTI, whichever is appropriate, shall subject the foreign retailer to penalties or restrictions on any future trading activities/business in the Philippines. For purposes of registration with the SEC or DTI, the foreign retailer shall submit a certification from the Bangko Sentral ng Pilipinas (BSP) of the inward remittance of its capital investment, or in lieu thereof, such other proof certifying that is capital investment is deposited and maintained in a bank in the Philippines. The implementing rules and regulations (“ IRR”) of R.A. 8762, as amended by R.A. 11595, provides that foreign investors or foreign retailers may acquire shares in existing and operating retail stores, publicly listed or not. A foreign retailer is defined as a foreign national, partnership, association, or corporation of which more than forty percent (40%) of the capital stock outstanding and entitled to vote is owned and held by such foreign national, engaged in retail trade. Foreign -ownedpartnerships, associations and corporation, upon registration with the SEC; on in case of foreign -ownedsingle proprietorships, upon registration with the Department of Trade and Industry (DTI), may engage or invest in retail trade, under the following conditions: •A foreign retailer shall have minimum paid -upcapital of PhP25 million; •The foreign retailer’s country of origin provides for reciprocity to Filipinos. Foreign Investments Act of 1991 Republic Act No. 7042, otherwise known as the Foreign Investments Act of 1991 (“ Foreign Investments Act”), liberalized the entry of foreign investment into the Philippines. As a general rule, there are no restrictions on extent of foreign ownership of export enterprises. In domestic market enterprises, foreigners can invest as much 66 as one hundred percent (100%) equity except in areas included in the Foreign Investment Negative List. The latest Foreign Investment Negative List (Twelfth) maintains the prohibition of foreign equity for retail trade enterprises with paid -upcapital of less than PhP25 million under R.A. 11595, amending R.A. 8762. For the purpose of complying with nationality laws, the term “Philippine National” is defined under the Foreign Investments Act as any of the following: •a citizen of the Philippines; •a domestic partnership or association wholly owned by citizens of the Philippines; •a corporation organized under the laws of the Philippines of which