It has been advised by lawyers of Filipino company to enter a Joint Venture Agreement. However, Foreign company would like to ask for your assistance on our below-listed concerns, if possible, please provide necessary legal reference(s):
1. Can Joint Venture be registered in SEC?
2. Is Joint Venture in between "Corporations" or "Partnership" allowed to enter the bidding for Pavement Data Collection Services project?
3. Local companies suggests Investment (40:60) but final profit sharing (90:10 or 80:20) since it is the Foreign company alone that will invest, we would like to confirm whether or not this kind of method has any problems when it comes to financing report for BIR?
4. Can the equipment owned by Foreign company be leased to the Joint Venture which is formed by the same Foreign company and Local company?
5. Who will be the authorised person for the corporate bank account when the operation expenses will all be shouldered by the Foreign Company?
5. What is the better option to take for the project? (Joint Venture with Agreement or Joint Venture registered with SEC)