CHAPTER V
REGISTRATION OF ENTERPRISES
Section 10. Qualifications of new enterprises. New investors/enterprises who intend to avail of the incentives provided in this ordinance must meet the following qualifications:
a) The prospective investor/enterprises has complied with all the requirements mandated under existing local and national laws and the constitution.
b) That the prospective investor/enterprises’ place of operation or production will be located within the territorial jurisdiction of the Municipality of Miagao. This shall include the opening of any branch within the Municipality of Miagao by an enterprise conducting business outside of the Municipality.
c) The prospective investor/ enterprise is engage in preferred areas of investment as herein defined.
d) The actual investment is at least One Million Pesos (P1,000,000.00]; Provided, that the amount of investment shall be based on the total project cost stated in the investor’s study submitted to and approved by the Board .
e) The new investor / enterprise will provide labor and employment to bonafide residents of the Municipality of Miagao, numbering not less than:
- 2 for investment worth P1 Million but less than 5 million
- 5 for investment worth P 5 Million but less than 10 Million
- 10 for investment worth P 10 Million but less than 20 Million
- 15 for investment worth 20 Million but less than 30 Million
- 20 for investment worth 30 Million but less than 40 Million
- 25 for investment worth 40 Million and above
Provided that enterprises/industries using state-of-the-art modern technology/equipment requiring specialized training or less manpower shall be exempted from this requirement.
Section 11. Qualifications of an existing investment/enterprises. An existing investor/enterprise may avail of the incentives under this ordinance, provided, that it meets the following qualifications :
a) The investor/enterprise must have complied with all the requirements mandated under existing local and national laws and the constitution.
b) The investor/enterprise must engage in activities mentioned in the investment priorities plan or in other preferred areas of investment specified in this ordinance .
c) That the existing investor/enterprise whose place of operation is already located within the territorial jurisdiction of the Municipality of Miagao, will expand its existing production capacity or construct new buildings and other civil works for the installation of new machinery and equipment or improvements thereof which will result in an increase in production capacity.
d) That the existing investor/enterprise will provide labor and employment to bonafide residents of the Municipality of Miagao, numbering not less than:
- 2 for investment worth P1 Million but less than 5 million
- 5 for investment worth P 5 Million but less than 10 Million
- 10 for investment worth P 10 Million but less than 20 Million
- 15 for investment worth 20 Million but less than 30 Million
- 20 for investment worth 30 Million but less than 40 Million
- 25 for investment worth 40 Million and above
Provided that enterprises/industries using state-of-the-art modern technology/equipment requiring specialized training or less manpower shall be exempted from this requirement.]
Section 12. Application Requirements. Qualified investor/enterprise shall file an application for registration with the Board within sixty (60) days from the approval of this ordinance. Thereafter, new or existing investors/enterprises qualified under this ordinance shall file their application within sixty (60) days from qualifying for the incentives provided herein. A qualified investor/enterprise shall be considered to have waived its privilege to avail of the incentives provided in this ordinance if no such application is received within the specified period.
a) The applicant shall file three (3) copies of completed application form to be provided by the Board in accordance with the provisions of this ordinance, which shall be accompanied by the following:
A non-refundable filing fee in the following amounts:
- P 1,000 for investment worth P1 Million but less than 5 million
- P 2,000 for investment worth P 5 Million but less than 10 Million
- P 5,000 for investment worth P 10 Million but less than 20 Million
- P 10,000 for investment worth 20 Million but less than 30 Million
- P 15,000 for investment worth 30 Million but less than 40 Million
- P 25,000 for investment worth 40 Million and above
b) A copy of the complete project study of the proposed investment showing that the project is economically, technically, and financially feasible and viable;
c) A certified true copy of applicant’s certificate of registration with the Securities and Exchange Commission, the Board of Investments, Cooperative Development Authority or the Department of Trade and Industry, as the case may be; and
d) A resolution of the applicant’s board of directors or trustees authorizing the application.
Section 13. Approval and Registration Procedures. The Board is authorized to facilitate actions on applications filed within the prescribed criteria for the evaluation of several applications filed in one preferred area; devise standard form for use of applicants; Provided, that the Board shall act upon every applications within thirty (30) days upon receipt thereof, provided, that all requirements are complete.
Section 14. Certificate of Registration. A registered enterprise under this ordinance shall be issued a certificate of registration with the signature of its chairman and/or such other officer of the Board as it may empower and designate for the purpose. The certificate of registration shall be in such form and style as the Board may determine.