QUALIFICATIONS AND REQUIREMENTS FOR APPLICATION OF HORSE OWNERSHIP

INDIVIDUAL OWNERSHIP (FOR APPLICANTS 21 YEARS OLD & ABOVE)

  1. Notarized Application Form with two (2) copies of recent photo (1 copy size 1X1 and 1 copy size 2X2)
  2. Tax Identification Number (TIN)
  3. Must have an annual net income of at least Php800,000.00 as reflected in the latest Bureau of Internal Revenue (BIR) stamped received Income Tax Return (ITR); or
  4. Average monthly bank balance of at least Php200,000.00 as reflected in a bank statement and transaction history for the last six (6) months;
  5. Must own or lease at least one (1) race horse with an existing agreement with a licensed trainer;
  6. Endorsement letter from the Chairman or President of a PHILRACOM-Accredited Horse Owners’ Association;
  7. Personal interview by the entire Board or designated Committee;
  8. Must submit the National Stud Farm Certificate of horse, Certificate of Ownership of Large Cattle (COLC), Certificate of Transfer of Large Cattle (CTLC) and Deed of Sale;
  9. Illustrated racing color;
  10. The Board of PHILRACOM, in the exercise of its discretion, may require submission of additional requirements to prove the capacity of the applicant to acquire, support, and maintain a thoroughbred race horse.

OWNERSHIP BY SINGLE PROPRIETORSHIP

  1. Notarized Application Form with two (2) copies of recent photo (1 copy size 1X1 and 1 copy size 2X2);
  2. Tax Identification Number (TIN);
  3. Certificate of Registration with the Department of Trade and Industry;
  4. Income Tax Return for the last three (3) years/ Financial Statement;
  5. National Stud Farm certificate of horse;
  6. Certificate of Ownership of Large Cattle (COLC);
  7. Certificate of Transfer of Large Cattle (CTLC);
  8. Deed of Sale;
  9. Illustrated racing color.
    Upon renewal of the registration/license, the single proprietorship shall submit the latest (ie current or previous year’s) mayor’s permit. (As per Board Resolution No. 32-20)

OWNERSHIP BY CORPORATION

  1. Notarized Application Form with two (2) copies of recent photo (1 copy size 1X1 and 1 copy size 2X2);
  2. Tax Identification Number (TIN);
  3. Articles of Incorporation and By-laws;
  4. Certificate of Registration with the Department of Trade and Industry (DTI) or Securities and Exchange Commission (SEC);
  5. List of officers and stockholders;
  6. Latest audited financial statement;
  7. Certification/designation of authorized corporate signatory on racing matters issued by the Corporate Secretary;
  8. National Stud Farm certificate of horse;
  9. Certificate of Ownership of Large Cattle (COLC);
  10. Certificate of Transfer of Large Cattle (CTLC);
  11. Deed of Sale;
  12. Illustrated racing color.
    Upon renewal of the registration/license, the corporation shall submit the latest (ie current or previous year’s) General Information Sheet (GIS) submitted to and stamped received by the Securities and Exchange Commission (SEC). (As per Board Resolution No. 32-20)

OWNERSHIP BY PARTNERSHIP

  1. Notarized Application Form with two (2) copies of recent photo (1 copy size 1X1 and 1 copy size 2X2)
  2. Tax Identification Number (TIN)
  3. Papers of agreement/partnership with the designated representative/signatory (first party);
  4. Certificate of Registration with the Department of Trade and Industry (DTI) or Securities and Exchange Commission (SEC)
  5. Articles of Partnership.
  6. Income Tax Return for the last three (3) years/Financial Statement
  7. National Stud Farm certificate of horse;
  8. Certificate of Ownership of Large Cattle (COLC);
  9. Certificate of Transfer of Large Cattle (CTLC);
  10. Deed of Sale;
  11. Illustrated racing color.

Steps in Horse Owner Application

  1. Client must submit the requirements for new ownership
  2. RLD Frontliners will check if the documents are complete, if complete, RLD will prepare an endorsement for Dr. Peter and Dr. Cambay’s signature
  3. Once signed, the endorsement will be forwarded to the Legal Division, Office of the Director and for board’s approval
  4. Once approved, Office of the chairman will issue an inter-office memo to proceed with the processing of Horse Owner License
  5. The client can now proceed with the payment for Horse Owner Application.