DBC will thoroughly evaluate the business you intend to setup in the Philippines and recommend the best way for your company to start doing business and correctly accomplish your Philippines Business Registration. We have assisted many local and foreign groups in the registration of their business in the Philippines.
Philippines Business Registration
Once the appropriate business entity has been chosen, DBC will help with the formation and registration with the pertinent government agencies. Our experience coordinating with the SEC, Department of Trade and Industry (DTI), Bureau of Internal Revenue (BIR), Social Security System (SSS), Home Development Mutual Fund (HDMF), Philippine Health Insurance Corporation (Phil-Health), (local business permits) Barangay Clearance, and Mayor’s permit. will make certain that your Philippines company incorporation and registration is done as fast as possible. Tax incentives are available for qualified businesses by registration with PEZA ad BOI.
Choosing the corporate structure to register your business in the Philippines
• 100% foreign owned domestic corporation (subsidiary)
• 60/40 owned domestic corporation
• 100% foreign owned Branch Office
• 100% foreign owned Representative Office
• 60/40 limited partnership
• 100% RHQ (Regional Headquarters)
The minimum paid-in capital will vary depending on the type of business. A company which exports at least 60% of its products or services such as BPO, KPO, Call Center, Web and IT development, Medical Transcription, Backoffice and outsourcing of all kinds may be setup with just PHP 100,000.00 of paid-in capital and be 100% foreign owned.
In general a 100% foreign owned Domestic Corporation (subsidiary) (non export orientated) is required to have at least USD 200,000.00 of paid-in capital. Companies whose business requires the use of advanced technology, or that employ at least 50 direct employees, may be permitted to have a minimum paid-in capital of US$100,000. The Capital must be deposited in a Philippines Bank before applying for a license to operate with the SEC.
DBC recommends that inward remittances be registered with the Central Bank of the Philippines (Bangko Sentral ng Pilipinas) to procure a BSRD.
Restrictions and requirements for foreign ownership of foreign ownership of business are found in the Foreign Investment Negative list.
Some businesses will have additional license and registration requirements. Depending on the kind of business you intend to operate, the SEC may require endorsements from government agencies before issuing a license to operate or Certificate of Incorporation to complete your Philippines business registration.
Businesses Requiring Licensing
• Mining Exploration and Mineral Processing
• Import and Export
• Online Gaming and Amusement
• Physical Security
• Pharmaceuticals / Cosmetics
• Recruitment Agency / Manpower
• Agricultural Production
• Energy Related Services
Philippines Government Licensing Bodies
• Bureau of Food and Drugs (BFAD)
• Bureau of Customs
• Dept of Labor and Employment (DOLE)
• Department of Environment and Natural Resources (DENR)
Registration of foreign/non-resident investments with the BSP is not mandatory however, it is only required if the foreign exchange (FX) needed to fund repatriation of the capital and the remittance of dividends/profits accruing thereon will be purchased from banks in the Philippines.
Dayanan Philippines Business Consultancy will guide you through the process of incorporation and business permit registration in the Philippines. Philippines Business registration.