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NEW SBMA ADMIN FEES NOW IN EFFECT

Effective middle of April, the Subic Bay Metropolitan Authority (SBMA) has started collecting administrative fees for processing post-registration requests of Subic Bay Freeport (SBF) locators.

This is by virtue of SBMA Board Resolution no. 12-03-4327 which was passed on March 16, 2012 to effect on April 16, 2012 or 30 days after its approval, according to a memorandum issued by Lawyer Jocelyn G. Alvarado, the Board Secretary for the meeting.

Previously, prospective locators were only required to pay a one-time filing fee of $50 for the processing of their investment application with succeding requests being processed without additional charges.

Henceforth, a Php 2,500 fee is already required for post-registration processing of additional requests.

This new admin fee is imposable to all regitered and/or existing locators with post registration requests which, among others, include renewal or amendment of lease and/or sublease agreements, reduction of lease area, transfer/ assignment of leasehold rights, change of approved corporate name, change of commencement date, additional/reduction/amendment of registered activity, additional/change of grace period, typo error corrections, etc.

The resolution, however, maintained that all requests made by incoming locators prior to registration shall be free of charge, for instance, change of corporate name.

Locators’ request relative to expansion project/s like acquisition, merger, additional facility and policy guidelines shall also be exempted from the new admin fees.

The administrative fee is payable at the Treasury Department, Ground Floor, Building 229. For multiple requests, payment is considered single, provided that multiple requests are indicated in just one letter of intent, received by the Busines & Investment Dept. on the same day. (Louella G. Vizcocho)

 

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