BANGKO SENTRAL NG PILIPINAS REGISTRATION OF FOREIGN PORTFOLIO INVESTMENTS (FPIs) A. Policies Generally, FPIs* need not be registered with the BSP. However, foreign investors intending to use the foreign exchange (FX) resources of the banking system for outward remittance of capital and earnings should register their FPIs with the investor's designated custodian bank (on behalf of the BSP. For registration purposes, the FX funding for the FPIs must be inwardly remitted and converted to pesos. A Bangko Sentral Registration Document (BSRD} is issued to a foreign investor which will allow him to purchase FX from the banking system for capital repatriation and remittance of earnings on duly registered investments. . Documentary Requirements © Appendix 10.8 of the Manual of Regulations on Foreign Exchange Transactions (FX Manual), as amended provides the list of documentary requirements which may also be downloaded from the BSP website” ©. Procedure '» Request for registration, together with the required documents, must be submitted to the investor's custodian bank. D. Fees ‘Depends on internal policy of custodian banks E, Reportorial Requirements » Transactions on: {a) BSP-registered investments in PSE-listed securities of residents, government securities, other peso-denominated debt instruments and peso time deposits, as well as (b) non-resident investments in PSE-listed equity securities of non- residents, shall be reported by custodian banks in their Report on Registered Portfolio Investments. Consist of: (a) peso-denaminated securities Issued onshove by the National Government and other public sector entities; (b) securities of resident enterprises listed at the Phillppine Stock Exchange (PSE); (c) peso time deposits wth an ARB with @ maturity of at least 90 days; and (d) other peso-derominated debt instruments issued onshore by private resident firms (such as bonds/notes, bils payables, non-garticipating preferred shares) and not covered by Section 23, [However, iter (4) should be registered directly with the BSP.) Non-resident investments in PSEdlisted equity securities issued by non-residents shall also be registered with the investor's designated custodian bank. 2 The FX Manual may be downloaded using this link: http://ww.bsp.gov.ph/downloads/Regulations/ MORFXT/MORFXT.paf. Appendix 10 and Annex W of the FX Manual may be downloaded using this lini: heto://www.bsp.gov.ph/sownloads/Regulations/MORFXT/MORFXT-fa5.2ip,BANGKO SENTRAL NG PILIPINAS Foreign Portfolio Investments (FPIs) Kit ‘Attachment Description [For registration of [A Appendix 10 |B. Appendix 10.2 FPis Procedures and Documentary Requirements for the Registration of Inward Foreign Investments and Other Investments (excerpts from Appendix 10) Certificate of Inward Remittance (CIR) of Foreign Exchange (FX) C. Appendix 10.2 Guide/instructions for Filling Out the CIR Form [D. Appendix 10.4 Ul, For purchase of Authority to Disclose Information FX from authorized agent banks (AABs\/AAB-forex corporations for capital | |__ repatriation and remittance of earnings of duly registered FPIs TE. Appendix 1 ‘Minimum Documentary Requirements for the Sale of FX by AABS/AAB-Forex | Corps for Non-Trade Purposes (excerpts from Appendix 1) F. Annex A ‘Application to Purchase FX Ill, Relevant BSP Website links f Particulars ‘BSP Website Link } Manual of Regulations on | http://www.bsp.gov.ph/downloads/Regulations/MORFXT/MORFXT.pdf Foreign Exchange Transactions (Fx Manual) Sections 32 to 33, 35 to 43 of the FX Manual "FX Manual Annexes and | http://www.bsp.gov.ph/downloads/Regulations/MORFXT/MORFXT- Appendices faas.zip Appendices 1, 10, 10.1, 10.2, 10.4 | Annex A Manual of Regulations for | Volume 1- Banks http://wwow.bsp.gov.ph/downloads/Regulations/MORB/MORB1.pdf Volume 2- | http://ww.bsp.gov.ph/downloads/Regulations/MORB/MOR82.pdf ‘Other regulations Rules on Investments — http://wwnw.bsp.gov.ph/regulations/reg_others_rfiaspAPPENDIX 10 Page 1 of § (as dare by Circular Letter No. 2010-009 dated 5 Ferry 2010, ands amended by Circular No 742 dated 21 November 2013, Crevlr No. 73 dated 18 Apri 2013, cular No, 815 dated 18 October 2013, ‘Greuiar No, 18 date OG November 2013 an Crear No 838 ated 20.une 2034) Procedures and Documentary Requirements for the Registration of Inward Foreign Investments and Other Investments A fcreign investment is considered BSP-registered upon issuance of a Bangko Sentral Registration Document (BSRD) by the Eangko Sentral ng Pilipinas (BSP) or a designated custodian bank. ‘A. For registration with the BSP 1. Investments in Other Peso-denominated Debt instruments Investments in other peso-denominated debt instruments issued onshore by private resident firms (such as bonds/notes, bills payables, non-participating preferred shares), and not covered by Section 23 of the Manual, shal! be registered directly with the BSP supported by the following documents: a. Original CIR of foreign exchange and its conversion to pesos through an AAB in the prescribed form (Appendix 10.1); and b. Contract/Certificate of investment For bonds/notes issued by private domestic firms that were purchased from {ocal banks, the following additional documents shall be required: a. Copies of bonds/notes; and b. Purchase Price Letter/Agreement For foreign investments in non-parti additional document/s shall be require sting preferred shares, the following Purchase invoice, or subscription agreement and/or proof of listing in the local stock exchange for new/additional issues/stock rights B. For Registration with Custodian Banks Custodian banks designated by the foreign investors shall register, in behalf of the BSP, the following 1. Non-resident investments in peso-denominated government securities, PSE-listed securities of Philippine residents, and peso time deposits with tenor of at least 90 days (Items 1, 2, and 3 under Section 35 of the Manual); and