Jan 24, 2022 · On 10 December 2021, Republic Act No. 11595, otherwise known as "An Act amending Republic Act No. 8762 or the Retail Trade Liberalization Act of 2000 (RTLA), by lowering the paidup capital requirement for foreign retail enterprises and other purposes" was signed into law. It removes the requirement for a Certifie of Prequalifiion and the need to .