Yes a foreign citizen can open a COL account. Below are the requirements for foreign citizens:


DUAL CITIZENS

  • Foreign passport
  • Proof of Filipino citizenship
    • Philippine Passport
    • Philippine Citizenship Retention Papers
    • Dual Citizenship Papers


RESIDENT FOREIGNER

  • Foreign Passport
  • Philippine Tax Identification Number (TIN)
  • Philippine Resident ID
    • Alien Certificate of Registration ID (ACR or ICARD)
    • Work permit from DOLE
    • Special Investor's Resident Visa ID (SIRV)
    • Special Resident Retiree's Visa ID (SRRV)
  • A Philippine residential address
  • Philippine as the country of residence

Note: Dividend tax rate for resident foreigners will apply till the validity of the Philippine Resident ID. An updated Philippine Resident ID is needed to avail of the dividend tax rate for resident foreign investors.


NON-RESIDENT FOREIGNER

  • Foreign Passport
  • Philippine bank account¬†


You may also check the PDF file found below to know more about being a foreign investor with COL Financial. 


If you need to know the guidelines on how to apply for a Philippine Tax Identification Number - click here

If you need to know why you need a Philippine bank account - click here