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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

An entity is formed under another country’s law and the Section140 reciprocity condition is satisfied. All shareholders happen to be Filipino. Does their citizenship alone convert the entity into a Philippine-formed corporation?

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Yes; a local mailing address is conclusive No; the stipulated foreign formation law remains material Yes; the shareholders may ignore the place’s law Yes; the articles of incorporation become Philippine legislation

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