Proprietary Membership

LIST OF REQUIREMENTS FOR PROPRIETARY MEMBERSHIP

Original Stock Certificate duly endorsed.
Notarized Deed of Sale/Transfer/Donation containing the following:

a. Signature of the transferor
b. Signature of the transferee
c. Signature of witnesses
d. Amount of consideration
e. Marital consent (if married)

If transferor/transferee is a corporation, attach a secretary’s certificate
authorizing the sale/purchase of the share and designating a signatory to
all the documents.
Proof of payment of Capital Gains Tax/Donor’s Tax, Receipts and BIR
Certification filed with the Bureau of Internal Revenue
Full settlement of the account of the transferor with the Club
Photocopy of 2 valid IDs of the transferor and spouse (if applicable)
Photocopy of 2 valid IDs of the transferee
Photocopy of 1 valid ID of corporate secretary (if applicable)
Payment of transfer fee

a. P20,000.00 for Immediate family (1st Degree of Consanguinity)
or to a corporation where the transferor/transferee is the
major stockholder or with controlling interest in the company
b. P40,000.00 if the transferee is the grandchild of the transferor
c. P200,000.00 for Filipino
d. P400,000.00 for Foreigner

ADDITIONAL REQUIREMENTS

For individual applicants:

Duly accomplished MEMBERSHIP APPLICATION form, signed by the applicant
and endorsed by two (2) Proprietary Members of VGCCI
One (1) piece 2×2 picture, white background
PSA (NSO) Certified copy of Birth Certificate for dependent/s 21 years old and
below, and Marriage Contract (if applicable)
One (1) piece 2×2 picture of each dependent and spouse (if applicable)
Copy of Valid Passport and one (1) Government issued ID
Barangay Clearance
Police Clearance
NBI Clearance

For corporate applicants:

Duly accomplished application form for corporation
Articles of Incorporation with SEC Certification
By-Laws
General Information Sheet

TRANSFER OF SHARE

• Stock Certificate duly endorsed.
• Deed of Sale/Transfer/Donation containing the following:

o Signature of the Vendor
o Signature of the Vendee
o Signed by the Witnesses
o Amount of consideration
o Notarized
o Marital consent of spouse (if seller is an individual)

• Board Resolution authorizing the sale of the share & designating a signatory to the Deed of Sale/Endorsement (if vendor is a corporation)
• Secretary’s Certificate authorizing the Corporation to purchase share or sell the share (if vendee is a corporation)
• Proof of payment of Capital Gains Tax, Receipts and BIR Certification (if any) filed with the Bureau of Internal Revenue.
• Full settlement of the account of the Vendor with the Club.
• Photocopy of 2 Valid ID. (Passport for Foreigner) Both Seller and Buyer
• Payment of Transfer fee in the amount of:

o P20,000.00 for transfers within the family (first degree of consanguinity) or to a corporation where the transferor is the major stockholder or with controlling interest in the company.
o P200,000.00 for transfers which are not within the family.
o P400,000.00 for transfer for foreigner

Note:
Submit the ORIGINAL of above documents

TRANSFER OF SHARE FROM A DECEASED STOCKHOLDER TO HIS/HER HEIR(S)

The transfer of a deceased stockholder’s shares and issuance of new stock certificate/s to his/her heir/s may be done judicially (through court proceedings) or extra-judicially (out-of-court settlement).

• If the estate of the deceased stockholder is settled judicially, whether testate (with a Will) or intestate (without a Will), the heirs will have to submit the following:

o Original certificate/s of the deceased stockholder’s shares of stock.
o When there is a Will, a certified copy of the Will and the final Court Order probating the same, together with a certified copy of the Project of Partition and the final Court Order approving the same.
o When there is no Will, a certified copy of the Project of partition and the final Court Order approving the same.
o Payment of Transfer fee in the amount of P11,200.00 for transfers within the family (first degree of consanguinity)

• If the estate is settled extra-judicially, the heir(s) will have to execute a Deed of Extra-Judicial Settlement (DEED) or an Affidavit of Self-Adjudication (AFFIDAVIT), if there is only one heir.
• The heir(s) must have the DEED or AFFIDAVIT, as the case may be, registered with the Register of Deeds of the decedent’s last known residence.
• The heir(s) must also have a notice of the estate’s settlement published in a newspaper of general circulation once a week for three (3) consecutive weeks.
• The heir(s) will have to submit the following:

o The original certificate/s of the deceased stockholder’s shares of stock.
o A copy of the Certificate of Death.
o An originally signed or certified copy of the DEED or AFFIDAVIT, as the case may be, duly annotated by the Register of Deeds.
o Affidavit of publication by the publisher of the newspaper in which the notice of extra-judicial settlement had been published.
o Certification from the Commissioner of Internal Revenue attesting to the payment or exemption from payment of the estate tax, as required by the National Internal Revenue Code.
o Expiration of two (2) year from the date of registration with the Register of Deeds or in lieu thereof, a bond or other security for a period of two (2) year for a sum and in such form and with such securities as may be satisfactory to the Board of Directors.
o Payment of Transfer fee in the amount of P11,200.00 for transfers within the family (first degree of consanguinity)

PROPRIETARY MEMBERSHIP APPLICATION FORM