Hi,
I hope someone can give me a clear answer on this question.
Myself, another expat and a Filipino citizen are planning to own a partnership business in the near future.
I am a resident under section 13a whilst my other expat friend is only here on a tourist visa.
I've read that foreigners can only own a 40% share in a Filipino business. Does this mean that the combination of both my own and my other expat friends shares can not exceed 40% or does my status under 13A mean that I can own more? In simpler terms are we entitled to 80% or merely fraction of the 40%
I appreciate any help anyone can offer.