Under the Corporation Code of the Philippines, corporations may be formed for any lawful purpose by at least five shareholders of whom at least two must be nationals of the Philippines including the person nominated as the company secretary. Foreigners with the correct residence visas can be nominated as company treasurers or as "treasurers in trust" prior to the appointment of a Philippine national as treasurer in situations where visa conditions do not allow a foreign shareholder to hold such a 포지션. The Code also requires a minimum paid-in capital for stock corporations of at least P5,000. Some investment areas have higher minimum paid-in capital requirements. For example, the minimum stockholder’s equity of a construction corporation would depend on what kind of license it would want to apply for, to wit: 꾸뻑