MIA MEMORANDUM CIRCULAR NO. 33

: The company must be authorized to engage principally in overseas shipping, and its corporate name must reflect this principal purpose.
: The company must have an owner's equity or paid-up capital of at least P2.5 million for the charter of a maximum of three vessels.
: The paid-up capital must be increased to P4.0 million for the charter of vessels in excess of three but not exceeding a total of five.
: The Chief Executive and the Chief Operating Officers of the applicant must be citizens and permanent residents of the Philippines.
: At least two principal officers should have at least five years of experience in ship management, shipping operations, or chartering.
: No, any change of principal officers shall require prior approval by MARINA.
: The applicant must submit the following: Receipt of payment of filing fee, Certificate of Registration with SEC, Articles of Incorporation and By-Laws, List of Directors and Principal Officers, Personal Information Sheet or Bio-data of Principal Officers, BOI Registration Certificate (if applicable), List of vessels owned/operated/chartered with details, SEC certification of paid-up capital, and any other documents deemed necessary by MARINA.
: No, companies accredited under this Circular are exempted from registering under Memorandum Circular No. 9, series of 1976.
: This Memorandum Circular took effect immediately upon its adoption on May 29, 1986.