Republic Act No. 8179 Foreign Investments Act
Republic Act No. 8179 Foreign Investments Act
Republic Act No. 8179 Foreign Investments Act
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4/27/2020 Republic Act No. 8179 : REPUBLIC ACTS - PHILIPPINE LAWS STATUTES and CODES
Republic Act No. Sec. 2. Sec. 7 of Republic Act No. 7042 is hereby
8110 amended to read as follows:
Republic Act No. "Sec. 10. Other Rights of Natural Born Citizen
8149 Pursuant to the Provisions of Article XII, Sec. 8 of
the Constitution. – Any natural born citizen who
Republic Act No. has the legal capacity to enter into a contract
8150 under Philippine laws may be a transferee of a
private land up to a maximum area of five
Republic Act No. thousand (5,000) square meters in the case of
8151 urban land or three (3) hectares in the case of
rural land to be used by him for business or other
Republic Act No. purposes. In the case of married couples, one of
8152 them may avail of the privilege herein granted:
provided, that if both shall avail of the same, the
Republic Act No. total area acquired shall not exceed the maximum
8153 herein fixed.
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4/27/2020 Republic Act No. 8179 : REPUBLIC ACTS - PHILIPPINE LAWS STATUTES and CODES
Republic Act No. "In case the transferee already owns urban or
8154 rural land for business or other purposes, he shall
still be entitled to be a transferee of additional
Republic Act No. urban or rural land for business or other purposes
8155 which when added to those already owned by him
shall not exceed the maximum areas herein
Republic Act No. authorized.
8156
"A transferee under this Act may acquire not
Republic Act No. more than two (2) lots which should be situated
8157 in different municipalities or cities anywhere in
the Philippines: provided, that the total land area
Republic Act No. thereof shall not exceed five thousand (5,000)
8158 hectares in the case of rural land for use by him
for business or other purposes. A transferee who
Republic Act No. has already acquired urban land shall be
8159 disqualified from acquiring rural land area and
vice versa."
Republic Act No.
8160 Sec. 6. The National Economic and Development
Authority, in consultation with the Board of
Republic Act No. Investments, the Department of Trade and
8161 Industry and Securities and Exchange
Commission, shall prepare and issue the
Republic Act No. necessary primer and other information campaign
8162 materials regarding the Foreign Investments Act
and the amendments introduced thereto, with
Republic Act No. copies of said materials furnished all the
8163 Philippine embassies, consulates and other
diplomatic offices abroad and disseminated to
Republic Act No. Filipino nationals, former natural-born Filipino
8164 citizens, and foreign investors, within sixty days
after the effectivity hereof.
Republic Act No.
8165 Sec. 7. The NEDA is hereby directed to make the
necessary amendments to the implementing rules
Republic Act No. and regulations of Republic Act No. 7042 in order
8166 to reflect the changes embodied in this Act.
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4/27/2020 Republic Act No. 8179 : REPUBLIC ACTS - PHILIPPINE LAWS STATUTES and CODES
Republic Act No. Sec. 10. This Act shall take effect fifteen (15)
8171 days after publication in two (2) newspapers of
general circulation in the Philippines.
Republic Act No.
8172
Approved: March 28, 1996
8174
8175
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