What's my maximum foreign ownership?
Pick your business activity to see the maximum foreign equity allowed under the current Foreign Investment Negative List — and what lifts the cap.
Not restricted
Up to 100%
maximum foreign equity
Not on the Negative List. Up to 100% foreign-owned, subject to the standard FIA capital rule (export-oriented: no minimum; domestic-market: US$200,000, reduced to US$100,000 in defined cases).
Directional guidance only, based on published legal analysis of the 13th FINL (EO 113) — not the government's own published annex, which is not yet machine-readable at official sources. Activity classification is the whole game: the same business described two different ways can land on opposite sides of a restriction. We confirm your exact activity against the current list and put your maximum ownership in writing before you commit capital.
Confirm my ownership cap with an advisorOfficial sources
Primary references this guide is checked against.
- Executive Order No. 113, s. 2026 (13th Regular FINL) — Supreme Court E-Library
- RA 11595 — Retail Trade Liberalization Act (as amended)
- Aureada Law — What EO 113 means for businesses
- PwC Philippines — The 13th Foreign Investment Negative List
- Cruz Marcelo — EO 113: a calibrated expansion of foreign investment
For the full picture of what changed in 2026, read the FINL 2026 explainer or 100% foreign ownership. Once you know your ownership cap, the incorporation calculator estimates your capital, fees and timeline.