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The BSRD to be issued by a custodian bank on behalf of the BSP shall be in the
prescribed pre-numbered form purchased by the custodian bank from the BSP. BSRDs
issued directly by custodian banks for registered investments in peso time deposits shall
be (a) annotated with roll-overs of the investment; or (b) cancelled if such deposits are
preterminated before ninety (90) days.

The investor or his duly authorized representative shall submit a duly

accomplished “Authority to Disclose Information”12 in the prescribed format
(Appendix 10.4) relative to all investments registered/held by each custodian bank for
the account of the investor.

(As amended by Circular No. 794 dated 18 April 2013, Circular No. 815 dated
18 October 2013 and Circular No. 838 dated 20 June 2014)

Section 38. Registration Procedures. The procedures for registration of

foreign investments including the supporting documents are outlined in
Appendix 10.

Section 39. Import/Export of Stock Certificates of Philippine Firms. No prior

BSP authority shall be required for the import/export of stock certificates of Philippine
firms issued to foreign investors, including investments prior to
15 March 1973 under Section 43.

Section 40. Repatriation and Remittance Privileges

1. Inward foreign investments duly registered with the BSP or with a custodian
bank duly designated by the foreign investor, shall be entitled to full and immediate
repatriation of capital and remittance of dividends, profits and earnings using foreign
exchange to be purchased from AABs and AAB-forex corps.

2. Foreign exchange may be purchased from AABs/AAB-forex corps in an

amount equivalent to the peso sales/divestments proceeds (including dividends, profits
or earnings thereon) of BSP-registered foreign investments in accordance with the
procedures outlined in Appendix 11 and supported by the documents listed under
Appendix 1 hereof.

3. Registering banks for foreign investments may sell the equivalent foreign
exchange of: (a) excess pesos funded with inward remittance of foreign exchange
12
A duly accomplished “Authority to Disclose Information” submitted to a custodian bank shall cover
all existing investments (as of 20 June 2014) and subsequent investments of a non-resident held by a
custodian bank.
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