LANDBANK, as an Authorized Agent Bank, can now issue a BSRD document to non-resident investors.
A non-resident investor planning to purchase foreign exchange (FX) from the Philippine banking system for repatriation and remittance of earnings of duly registered investments is required to obtain a Bangko Sentral Registration Document (BSRD).
The BSRD is a document issued by the Bangko Sentral ng Pilipinas (BSP) evidencing the registration of foreign investments of non-residents. The BSRD contains the list of onshore investments by the non- resident investor and enables him to access the FX resources or purchase FX from Authorized Agent Banks (AABs) or forex corps against Philippine Pesos for servicing/settlement of these transactions.
The issuance of the BSRD has been delegated by the BSP to registering AABs.
List of Instruments/Investments that can be registered with Land Bank of the Philippines
|Who can apply for a BSRD?||Non-resident investors (e.g. individual, corporation, juridical person) or their authorized representatives|
|When to apply for a BSRD?||Within one (1) year from the date of inward remittance of the foreign exchange (FX) funding the investment (for cash investment). For other types of funding, please refer to Item I of Appendix 10.A of the FX Manual.|
|What are the documentary requirements to secure a BSRD from LANDBANK?||• Cover letter • Application for registration of Foreign Investments (Annex W of the FX Manual) • Authority to Disclose form (Appendix 10.4 of the FX Manual) • Applicable supporting documents under Appendix 10.C of the FX Manual • Other documents as may be required by the Bank’s policy or regulations|
How to Apply for BSRD in LANDBANK-TBG
Land Bank of the Philippines
Third-Party Custodianship & Registry Department (TCRD)
21st Floor, LANDBANK Plaza 1598 M.H. del Pilar Dr. J. Quintos St. Malate, Manila
For queries, you may contact the LANDBANK Trust Business Development Department through the following:
• (02) 8405-7100
• (02) 8405-7119
• (02) 8405-7761