Document background
The Memorandum and Articles of Association of a Tourism Company is a mandatory corporate document required under Philippine law when establishing a tourism-focused business entity. This document must be filed with the Securities and Exchange Commission and comply with both the Revised Corporation Code and the Tourism Act of 2009. It serves as the fundamental constitution of the company, outlining everything from basic corporate identity to detailed operational procedures. The document is particularly important in the tourism sector as it must address specific requirements for tourism operations, including licensing, environmental compliance, and service standards. It's typically prepared during the company's formation but may need amendments as the business evolves or regulations change. The document must also consider foreign ownership restrictions if applicable, and include provisions for tourism-specific activities like tour operations, accommodation services, or travel agency functions.
