what is your view on the "online gaming system with absolutely no physical presence in the presence in the philippines. shall be considered as "doing business" in the philippines and was thus required to obtain a license to do business from the SEC, state facts to support your answers.

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22-09-2022
Business

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what is your view on the "online gaming system with absolutely no physical presence in the presence in the philippines. shall be considered as "doing business" in the philippines and was thus required to obtain a license to do business from the SEC, state facts to support your answers.

Answer :

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azikennamdi azikennamdi · Answer 1 · 2022-09-23T13:01:31-04:00

It is TRUE to state that "online gaming system with absolutely no physical presence in the presence in the Philippines can be considered as "doing business"

What is the justification for the above assertion?

The Securities and Exchange Commission - SEC stated various criteria to support the corporation's presence in the Philippines:

1) establishment of the online account takes place in the Philippines;

2) Access is granted by users in the Philippines;

3) The material is paid for using local credit cards from within the Philippines; and

4) The web material is delivered in the Philippines. The IP address in the Philippines gets the offer of services, transmits the acceptance of the offer to the virtual plane, and lastly, the content or service is delivered to the account holder's IP address in the Philippines via such virtual plane.

As a result, "the transactions will be executed in the Philippines," according to the SEC.

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