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Work +63 2 830 8000
Fax +63 2 403 7007/7009
Cebu, Davao, Manila

Tadeo F Hilado

Work (632) 830 8000
Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALaw)

Work Department

Corporate & Special Projects


Senior Partner Practice Areas: Banking Law | Business Law | Business Process Outsourcing | Capital Markets & Securities | Commercial Law | Contracts | Corporate Law | Debtor & Creditor | Eminent Domain | Finance | Government & Legislative Advocacy | Investment Law | Mergers & Acquisitions | Real Estate | Securities Law


Throughout his more than 30 years of practice, Mr. Hilado has provided invaluable service to multinational conglomerates. Among others, he has: Advised multinational companies on the establishment of their representative offices, branches and subsidiaries in the Philippines, including joint ventures with Filipino partners; Represented various clients in mergers and acquisitions; Advised on corporate structures, including ownership structures to comply with limitations on foreign ownership of nationalized businesses; Acted as legal counsel for either the issuer or underwriter in initial public offerings and listings in the Philippine Stock Exchange; Acted as counsel to various local banks and foreign investors in the sale of non-performing loans and assets to retail buyers or special purpose vehicles under the Special Purpose Vehicle Act of 2002; Assisted the Philippine legislature in drafting the Real Estate Investment Act of 2009, the Personal Equity and Retirement Account (PERA) Act of 2008 and their implementing rules and regulations, and the proposed Collective Investments Schemes Law; and Acted as counsel in the offering and listing of the first exchange traded fund (ETF) in the Philippines. Law Professorial Positions & Legal Publications: Mr. Hilado has written and lectured on various topics related to his fields of practice, and recently on the Philippine REIT law, PERA law, SPAV law, the Securities Regulation Code, tender offers, and franchising and technology transfer agreements. Among his recent publications are the Philippine chapters in “A Legal Guide to Doing business in the Asia-Pacific”, American Bar Association Section of International Law (2010), and “Doyle’s Practical Guide to Business Law in Emerging Countries in Asia” (2010).


English; Filipino


Professional Membership & Affiliations: Mr. Hilado is a member of the Makati City Chapter of the Integrated Bar of the Philippines, the Legal Management Council of the Philippines and the International Bar Association. He is one of the Firm’s representatives to Terralex, the worldwide network of independent law firms.


Mr. Hilado received his Bachelor of Arts degree under the Honors Accelerated Program graduating summa cum laude and valedictorian of the 1973 graduating class of De La Salle University. He obtained his Bachelor of Laws degree from the University of the Philippines in 1977. Mr. Hilado was the Chairman of the Philippine Law Journal’s Student Editorial Board. He was a Clyde De Witt fellow at the University of Michigan where he obtained his Master of Laws degree in 1981, after which he worked for a year as a visiting lawyer in the U.S. law firm of Graham & James in San Francisco, California.


AWARDS AND CITATIONS: Among others, Mr. Hilado is recognized as a “Leading Lawyer” in General Corporate Practice by Asialaw Leading Lawyers 2011 and Asialaw Profiles 2012, and as one of the Recommended Lawyers in Corporate/M&A practice in Practical Law Company’s Which Lawyer ranking in 2010.


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Legal Developments in Philippines

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • ALB: “Enforcement Update: Philippine Competition Act”

    The August 2017 issue of the Asian Legal Business (ALB)  includes a Philippine regional update by SyCipLaw partner  Arlene M. Maneja entitled, “Enforcement Update: Philippine Competition Act”. The article summarizes the administrative, civil and criminal penalties that apply to companies that have yet to comply with the Philippine Competition Act (PCA). The transitional clause of the PCA to enable parties to renegotiate agreements or restructure their businesses to comply with the law expired on August 7, 2017.
  • CPO: “Philippines: To Be or Not To Be a Data Protection Officer (DPO)”

    Chief Privacy Officer (CPO) Magazine, an online publication owned by Data Privacy Asia, featured an article by SyCipLaw partner Rose Marie M. King-Dominguez . Entitled “Philippines: To Be or Not To Be a Data Protection Officer (DPO) ”, the article discusses the qualifications and responsibilities of a DPO as outlined in the Philippine Data Privacy Act of 2012. It also outlines difficulties companies may experience in the appointment of a DPO.
  • ALB: “Guidelines on Related Party Transactions for Insurers in the Philippines”

    The July 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update by SyCipLaw partner Hiyasmin H. Lapitan and associate Jo Margarette W. Remollo entitled, “Guidelines on Related Party Transactions for Insurers in the Philippines ”. The article summarizes the Insurance Commission’s compliance guidelines on related party transactions, as set out in Insurance Circular Letter No. 2017-29. The Circular covers insurers, reinsurers, branch offices of foreign insurers, mutual benefit associations, pre-need companies, and health maintenance organizations and their intermediaries.
  • Philippines Chapter in The Tax Disputes and Litigation Review - Edition 5

    The Philippines section of The Tax Disputes and Litigation Review - Edition 5 contains information on commencing disputes, including national and local taxes; courts and tribunals; penalties and remedies; tax claims, including recovering overpaid taxes, challenging administrative decisions, and claimants; costs; alternative dispute resolution; anti-avoidance; double taxation treaties; areas of focus; and outlook and conclusions. The section was contributed by SyCipLaw partner  Carina C. Laforteza  with support from associate  Mark Xavier D. Oyales .
  • IFLR: “Philippines: Acquiring insurance brokers”

    The April issue of the International Financial Law Review (IFLR) includes an international briefing article by SyCipLaw partner  Hiyasmin H. Lapitan  entitled “Philippines: Acquiring insurance brokers”. The article discusses the new requirement by the Philippine Insurance Commission (IC) for advance approval to acquire a stake in a Philippine corporation that is licensed as an insurance broker or reinsurance broker. This requirement is noted in the IC’s circular letter number 2017-09 dated February 14, 2017, which prescribes guidelines on the documentation requirements for acquiring a domestic insurance or reinsurance broker.
  • SyCipLaw Tax Bulletin: Philippine BIR Rules on Proper Tax Treatment of Passed-on Gross Receipts Tax

    On June 13, 2016, the then Commissioner of Internal Revenue issued Revenue Memorandum Circular No. 62-2016 purporting to clarify the proper tax treatment of percentage tax or gross receipts tax (GRT) due on transactions covered by Sections 1211 and 1222 of the Tax Code which are shifted through contractual stipulations to borrowers/customers/clients (“passed-on” GRT). Banks, non-bank financial intermediaries performing quasi-banking functions are subject to GRT under Section 121 while financing companies and other financial intermediaries not performing quasi-banking functions are subject to GRT under Section 122. The effectivity of this circular was suspended on July 1, 2016 by the new Commissioner of Internal Revenue. However, on November 15, 2016, the suspension was lifted by RMC No. 127-2016 rendering RMC No. 62-2016 effective immediately.
  • Philippine Court of Appeals Denies Issuance of Environmental Protection Order Against Mining Company

    In a decision issued on March 8, 2017, the Philippine Court of Appeals (CA) denied the petition by NGO Ang Aroroy ay Alagaan, Inc. and certain individuals, for the issuance of a writ of kalikasan against Filminera Resources Corporation, and its directors and officers. The petitioners have claimed that Filminera, which operates in the Philippine province of Masbate, had been causing environmental damage in the conduct of its mining operations in violation of local law, and that a writ of kalikasan should be issued.
  • SyCipLaw TMT Bulletin: Philippine Central Bank Issues New FinTech Rules

    The Bangko Sentral ng Pilipinas (BSP) (the Philippine Central Bank) has issued two new circulars that will be of interest to companies engaged in remittance services, e-money, digital currency, and other fintech businesses. Both circulars amend portions of the BSP Manual of Regulations for Non-Bank Financial Institutions.
  • IFLR: “Philippines: Foreign equity ownership decision”

    The March issue of the International Financial Law Review ( IFLR ) includes an international briefing article by SyCipLaw partner  Jose Florante M. Pamfilo  entitled “Philippines: Foreign equity ownership decision”. The article discusses the Philippine Supreme Court decision on the case of Roy v. Herbosa (GR no. 207246) to invalidate the Securities and Exchange Commission (SEC) Memorandum Circular no. 8-2013 (MC 8-2013) on the guidelines on compliance with the Filipino-foreign ownership requirements prescribed in the Philippine Constitution and/or existing laws by corporations engaged in nationalized and partly nationalized activities.
  • Doing Business 2017: Equal Opportunity for All

    The World Bank Group has released its Doing Business 2017: Equal Opportunity for All report. This is the 14th in an annual series of reports providing objective measures of business regulations and their enforcement in 190 economies. The report focuses on measuring regulations affecting 11 areas: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency, and labor market regulation.