| Type of company:o Foreign Brancho Foreign | | | | with the following requirement:o Minimum of 5 |
| Representative Officeo 100% fully foreign owned | | | | incorporator, each of whom must be actual persons |
| Domestic Corporationo 60/40 owned Domestic | | | | and hold at least a single share in the company.o |
| Corporation | | | | Majority of the incorporator must be Filipino.o A |
| There are available consultancy firm that can assist | | | | Corporation must have between 5 and 15 directors, |
| and help assess those who need investment vehicle | | | | each of whom must have at least one share of |
| best for the owner and the company. Such services | | | | stock.o Majority of the directors (or trustees) must be |
| will be provided:o Procedureo Planningo Registration to | | | | Philippine residents.o All Domestic Corporations (those |
| relevant Philippine government agencies (e.g Securities | | | | incorporated in the Philippines) must obtain their license |
| and Exchange Commission, Department of Trade and | | | | with the Securities and Exchange Commissiono |
| Industry, Bureau of Internal Revenue, etc.) | | | | Philippine Securities and Exchange Commission |
| Added services will be as follows:o Determine Capital | | | | requires the following: |
| Requiremento Assist in the opening of local bank | | | | - Has to reserve and register a company name |
| accounto Register and secure company name with | | | | - Has to submit proposed Articles of Incorporation and |
| Securities and Exchange Commission or with | | | | By-Laws in compliance with the Corporation Code of |
| Department of Trade and Industryo Identify | | | | the Philippines |
| Shareholders, Directors, Nominees and Incorporatoro | | | | - Proof of minimum capitalization required to every |
| Draft Articles of Incorporation and By-Lawso Process | | | | industry or business the corporation is engaged in |
| documents with Securities and Exchange Commission, | | | | - Has to have the minimum paid-up capital requirement |
| Board of Investment, Philippine Economic Zone | | | | for a corporation or where the foreign equity exceeds |
| Authority, Bureau of Internal Revenue, Social Security | | | | 40% is US$200,000, which must be remitted into the |
| System, etco Process Mayor Permit and Business | | | | Philippines |
| Permito And whole lot more depending on capacity of | | | | - Must employ at least 50 employees. |
| the firm and where in the Philippines it is intended to | | | | All other details related to start-up, branch |
| establish its office/s. | | | | establishment and export oriented firms will be |
| Please be advice to get only credible and honest | | | | explained further by the consultancy firm. The issuance |
| consultancy firm to avoid loss of time and money. The | | | | of a certificate of incorporation from the SEC signifies |
| consultancy firm will also mention the existing realities | | | | the commencement of corporate existence and |
| and limitation with concerns to facility, national | | | | juridical personality for a company. |
| economic status, negative reports and things to | | | | Businesses must also register with the following |
| expect. | | | | agencies:o Bureau of Internal Revenueo Social |
| Eligible businesses may then register their businesses | | | | Security Systemo Home Development Mutual Fundo |
| with Philippine Economic Zone Authority, Board of | | | | Philippine Health Insurance Corporationo And the local |
| Investment, etc. Incentives such as income tax holidays | | | | government unit where its principal office will be |
| and special tax regimes are available to foreign | | | | located. |
| investment. | | | | If the business wish to operate as sole beneficial |
| Most foreign investors usually start through a Domestic | | | | owner of the business, it should register Department of |
| corporation or a Branch. We recommend to register | | | | Trade and Industry and with the Beureu of Internal |
| as corporation as there are administrative regulations. | | | | Revenue and must also register its business name |
| Branches, which may be more advantageous tax | | | | with the Department of Trade and Industry through the |
| wise, cannot be used if the activities to be undertaken | | | | Bureau of Trade Regulation and Consumer Protection. |
| are included in the Foreign Investment Negative list. | | | | Other details will be explained further by the |
| Corporations can accommodate Philippine ownership. | | | | consultancy firm or the entrepreneur can inquire |
| Forming or registering a corporation has to comply | | | | directly to Department of Trade and Industry. |