To establish a shipping company pursuant to MARINA Circular No. 181:
The Chief Operating Officers shall be citizens and permanent resident of the Philippines
Two of the principal officers of the company shall have at least 5 years experience in ship management, shipping operations and/or chartering
Paid-up capital is P10.0M
The Client shall submit the pre-approval documents as follows:
1.General Arrangement Plan and Capacity Plan
2.Latest Class Survey Report
3.Certification of Class for Hull and Machinery
4.Current Certificate of Registry
5.Board Resolution of Directors certified by the Board Secretary, authorizing the filing of the application and designating the officials/authorized representatives to represent the Applicant.
6. Duly notarized/authenticated original of the Certificate of Good Standing (in English) recently issued by the State of Registry
7. Notarized Board Resolution or authenticated by the Philippine Embassy, of the Registered Owner/ Seller, authorizing the sale of the ship and designating the officials/authorized representatives to represent the owner/seller.
8. Pro-forma Loan Agreement, if any.
9. Memorandum ofAgreement executed by the parties concerned.
10. Approval of the Monetary Authority of the lease-purchase agreement/contract where the lease payments will be sourced from the Philippine Banking System
Company must be registered under MARINA MC 181
Letter approval – 5 days
CPR – 5 days
Certificate of Accreditation – 3 days
Importation P8,050.00/ ship
CPR and CO – P2,650.00 + P1.15/GT in excess of 500 GT
Issuance of Full Term:
CPR = P1,650
Mr. Maximo Q Mejia Jr, PhD, Administrator MARINA Attention: Mr. Arsenio F. Lingad II, Director Overseas Shipping Service
Overseas Shipping Service, MARINA Parkview Plaza 984 cor. Taft Avenue & T.M. Kalaw St Manila Telefax No. (+632)5257890