Philippines Incorporation (Subsidiary or Domestic Corporation)
The SEC is the government agency which supervises incorporation in the Philippines. The Philippines incorporation process is done as follows:
Reservation of corporate name with SEC. (a name can be reserved for up to 3 months)
Articles of Incorporation
Preparation of Corporate Articles of Incorporation and Bylaws.
Secure Treasurer’s Affidavit and attach to the documents.
Submission SEC F-100 form
Companies with more than 40% Foreign Ownership must also submit SEC Form F-100.
Submit All Requirements
Submission of all the above documents to SEC for Registration
Wait until they process your documents and application
SEC registration fees will depend on the amount of authorized capital. There will also be notarial fees. Certain kinds of business are required to have a minimum paid-in capital as specified by the laws regulating those businesses. Foreign business ownership is regulated by the Regular Foreign Investment Negative list.
It usually takes one to two weeks for the SEC to issue the Certificate of Incorporation from the time all the required documents are submitted.
Once the Certificate of Incorporation has been issued the corporation will be required to obtain local business permits (Mayor’s Permit and Barangay Clearance), register with the Bureau of Internal Revenue and other government agencies SSS, PhilHealth and HDMF.
DBC with the assistance of its legal team will prepare the Articles of Incorporation and Bylaws of your corporation based on the requirements of your business. Take note there exist restrictions on foreign ownership which may affect how many shares you may own and the amount of minimum paid-in capital. Business Process Outsourcing is considered an export enterprise which may be 100% foreign owned and may avail of tax incentives from the BOI or PEZA.
Certain kinds of business need additional endorsements and licenses from Philippines government agencies.
Government licensing bureaus:
- Bureau of Food and Drugs
- Bureau of Customs
- Department of Labor and Employment
- Department of Environment and Natural Resources