No foreign equity is allowed in the practice of forestry profession, although foreigners may practice the profession subject to reciprocity. According the Annex on Professions of the 11th Foreign Investment Negative List, the corporate practice is allowed in the Forestry sector. As for other cases, the reciprocity requirement that is concurred for the practice of such profession may not apply to foreign corporate investments, cf. SEC-OGC Opinion No. 16-14, 23 May 2016, p. 3 ("[...] This means that the practice of profession by corporations should be done by 100% Filipino-owned corporations, as no foreign equity is allowed [...]). In any case, the Constitution, seems to only allow firms with up to 40% foreign equity to explore, develop and use natural resources in lands of public domain, which includes forests. For the purposes of the OECD FDIRRI, the latter less stringent condition is assumed to apply.
"Only the investment areas and/or activities listed in the attached Eleventh Regular Foreign Investment Negative List shall be reserved for Philippine nationals, subject to the exceptions and conditions indicated therein.
[...]
LIST A: FOREIGN OWNERSHIP IS LIMITED BY MANDATE OF THE CONSTITUTION AND SPECIFIC LAWS
No Foreign Equity [...]
2. Practice of Professions² (Art. XII, Sec. 14 of the Constitution, Sec. 1 of R.A. No. 5181, Sec. 7[j] of R.A. No. 8981), including Radiologic and x-ray technology (R.A. No. 7431), Criminology (R.A. No. 6506), Law (Art. VIII, Section 5 of the Constitution; Rule 138, Sec. 2 of the Rules of Court of the Philippines), and Marine deck officers and marine engine officers (R.A. No. 10635), subject to the Annex on Professions attached herewith and forming an integral part of this document, indicating the professions where (a) foreigners are allowed to practice in the Philippines subject to reciprocity; and (b) where corporate practice is allowed. Foreigners may teach at higher education levels (R.A. No. 8292), provided the subject being taught is not a professional subject (i.e., included in a government board or bar examination). [²2 Section 1(b) of Professional Regulation Commission Resolution No. 2012-668 defines 'practice of a profession" as an "activity/undertaking rendered by a registered and licensed professional or a holder of a Special Temporary Permit as defined in the scope of practice of a professional regulatory law."]
[...]
ANNEX ON PROFESSIONS [Law is not present in the list of professions in items A and B of this Annex]
A. Foreigners are allowed to practice the following professions in the Philippines provided that their home country allows Filipinos to be admitted to the practice of these professions:
-Forestry (Sections 14 and 27, RA 10690) [...]
[...]
B. Corporate practice is allowed in the following professions, subject to the requirements and conditions under the pertinent professional regulatory law:
-Forestry (Section 25, RA 10690] [...]" (Eleventh Regular Foreign Investment Negative List (Executive Order No. 65 / 2018))
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"Section 2. All lands of the public domain, waters, minerals, coal, petroleum, and other mineral oils, all forces of potential energy, fisheries, forests or timber, wildlife, flora and fauna, and other natural resources are owned by the State. With the exception of agricultural lands, all other natural resources shall not be alienated. The exploration, development, and utilization of natural resources shall be under the full control and supervision of the State. The State may directly undertake such activities, or it may enter into co-production, joint venture, or production-sharing agreements with Filipino citizens, or corporations or associations at least sixty per centum of whose capital is owned by such citizens. Such agreements may be for a period not exceeding twenty-five years, renewable for not more than twenty-five years, and under such terms and conditions as may be provided by law. [...]
SECTION 14. The sustained development of a reservoir of national talents consisting of Filipino scientists, entrepreneurs, professionals, managers, high-level technical manpower and skilled workers and craftsmen in all fields shall be promoted by the State. The State shall encourage appropriate technology and regulate its transfer for the national benefit.
The practice of all professions in the Philippines shall be limited to Filipino citizens, save in cases prescribed by law.[...]" (Art XII, Sec 2 and 14, 1987 Constitution of the Republic of The Philippines)
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"The Ninth Regular Foreign Investment Negative List (FINL-9), pursuant to theConstitution and specific laws, provides, in List A, that no foreign equity is allowed for thepractice of professions, including real estate services, as such practice is limited to Filipinocitizens, save in cases prescribed by law. This means that the practice of profession bycorporations should be done only by 100% Filipino-owned corporations, as no foreign equity is allowed.
[...]
Based on the foregoing, we are of the view that no foreign participation is allowed incorporations, such as a real estate brokerage company, that will engage in the practice of realestate service.[...]" (SEC-OGC Opinion No. 16-14 Foreign Participation in a Real EstateBrokerage Company)
Eleventh Regular Foreign Investment Negative List (Executive Order No. 65 / 2018)
Art XII, Sec 2 and 14, 1987 Constitution of the Republic of The Philippines
SEC-OGC Opinion No. 16-14 of 23 May 2016 on Foreign Participation in a Real Estate Brokerage Company
[<a href="https://www.officialgazette.gov.ph/downloads/2018/10oct/20181029-EO-65-RRD.pdf">List</a>],[<a href="https://www.officialgazette.gov.ph/constitutions/1987-constitution/">Constitution</a>],[<a href="https://www.sec.gov.ph/wp-content/uploads/2019/12/2016OpinionNo16-14.pdf">Opinion</a>]