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Who Can Engage in Recruitment and Placement
Who Can Engage in Recruitment and Placement
Who Can Engage in Recruitment and Placement
Igi Filoteo
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QUALIFICATIONS:
Only those who possess the following qualifications may be permitted
to engage in the business of recruitment and placement of overseas
Filipino workers:
1. Filipino citizens, partnerships or corporations at least 75% of the
authorized capital stock of which is owned and controlled by
Filipino citizens;
2. A minimum capitalization of 2M in case of a single proprietorship
or partnership and a minimum paid in capital of 2m in case of a
corporation; Provided, that those with existing licenses shall,
within four years from effectively hereof, increase their
capitalization or paid up capital, as the case may be, to 2M at the
rate of 250l every year; and
3. Those not otherwise disqualified by law or other government
regulation to engage in the recruitment and placement of
workers for overseas employment.