MANILA, Philippines – The Department of Justice (DOJ) ruled that foreigners can’t be appointed as independent director of the Maharlika Investment Corporation, the company managing the country’s first wealth fund.

A seven-page legal opinion by Justice Undersecretary Raul Vasquez cited sections of the Constitution, particularly Section 18, which states that public officers and employees owe the state “allegiance at all times.” 

The opinion also cited Section 1, which states that “public officers and employees must at all times be accountable to the people, serve them with utmost responsibility, integrity, loyalty, and efficiency, act with patriotism and justice, and lead modest lives.” 

“Hence, we are of the opinion that a foreign national cannot be legally appointment by the President as an independent director of the MIC,” the opinion read.

But the DOJ emphasized that a Filipino with dual citizenship at birth may be appointed as MIC’s independent director without the need for renouncing his or her foreign citizenship.   

Natural-born Filipinos who were naturalized in another country and later reacquired Filipino citizenship may be appointed on the condition that they comply with Republic Act 9225 or the Citizenship Retention and Re-acquisition Act of 2003, as well as the corresponding rules and regulations issued by the Civil Service Commission.     

The DOJ opinion was issued after the Presidential Management Staff requested it in November 2023, noting that the Maharlika law’s implementing rules and regulations was silent on the nationality requirement. – Rappler.com