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The "Anti-Dummy" law

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1 The "Anti-Dummy" law on Tue Jun 24, 2014 4:50 am


Reclusion Perpetua
(I ask IN GENERAL. It's about DIFFERENT Filipin-foreigner families situations.)
I know there is a law ment to stop foreigners to own business through Filipina wife. (The law stop Filipina wife from owning even when it's HER money, which she HASN'T got from the foreign husband by counting the couple as one, and when it's business type with restrictions against foreigners, then the wife is hit by it too!
The Philippines need MORE businesses, but the parlament seem to think foreigners are that stupid being prepared to pay 100 % but only get 40 %!!! (For most types of business. There are exceptions.)

But now to my question Smile
1. E g if it's a business with max 40 % foreign owning, which the wife perhaps had even BEFORE they met, does the Filipina wife have to sell just because she married??!

2. Do the law only concern the wife,
or other Filipin family members too?
(e g family-in-law.) Or can the family be assisted by foreigner finance new business for the family?

3. Is it similar for LAND?

Do a Filipina have to sell land she has just because she marry a foreigner??

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