GRAND FATHER RULE

Ownership

53 % = foreign
ABC Corp 47 % = domestic

69 % = ABC corp
XYZ Corp 31 % = Fil SH

Q: What is the nationality of XYZ corp?

A: Phil Nationality.

Computation Foreign

69 % - ABC corp - all 69 % - ABC corp - all

x 47 % - ABC corp - domestic x 53 % - ABC corp - foreign
483 207
276 345
32.43 % 36.57 % - foreign nat.

32.43 %
+ 31 % - XYZ Fil SH
63.43 % - fil nat.