Register Company in Phillippines

Fionza Consultants offers comprehensive support to global clients in registering a company in the Philippines. Our service bundle encompasses the entire process of Philippines company formation, offering local nominee directors, facilitating the opening of corporate bank accounts in the Philippines, and handling visa applications. Fionza Consultants serves as your all-in-one solution to initiate and legally conduct business in the Philippines.

Phillippines

Company Registration – 3 Weeks
Local Director? – No
Bank Account Opening – 4 Weeks
Travel Required – No

Register Company in Phillippines

Experience a hassle-free company registration process in the Philippines with Fionza Consultants. Our dedicated team streamlines the entire process, allowing you to focus on crucial aspects of your business.

Benefit from our efficient and expert team, ensuring a seamless experience from start to finish when registering your business in the Philippines. With our lean-and-mean approach, we prioritize operational readiness within the agreed-upon timeframe.

Fionza Consultants offers comprehensive company registration services in the Philippines, covering all essential aspects:

Register with the Philippines Department of Trade and Industry
Local Nominee Director Services
Company Secretary and Registered Address Assistance
Philippines Bank Account Opening Support
Tax Registration Services
Annual Accounting and Tax Services

Trust Fionza Consultants to handle the complexities, making the process smoother for you. Contact us today to kickstart your business journey in the Philippines with confidence

Introduction to register company in Philippines

Discover the Philippines, officially the Republic of the Philippines, an archipelago in Southeast Asia with 7,641 islands. In recent years, it has become a prime destination for foreign investors, thanks to its impressive economic performance.

According to the International Monetary Fund (IMF), the Philippines ranks 36th out of 186 countries in nominal Gross Domestic Product (GDP). The country’s extensive domestic and regional market opportunities add to its allure for foreign investors.

Boasting abundant natural resources, fertile lands, and rich mineral deposits, the Philippines provides foreign investors access to a wealth of offshore resources. It stands out as an attractive offshore jurisdiction, driven by sustained economic growth and pro-investment government policies designed to attract foreign direct investments.

The Philippines is an ideal choice for both onshore and offshore jurisdictions, supported by a proactive government and a skilled workforce. Importantly, under the revised Philippines Corporation Code, there’s no mandatory minimum capital stock for stock corporations, unless specified by special law. Additionally, there’s no requirement for a minimum number of shareholders to establish a new entity. Explore the opportunities in this thriving economy with supportive regulations and a welcoming business environment.

How long does it take to register company in Philippines and open corporate bank account?

Experience a hassle-free foreign company registration in the Philippines with Fionza Consultants, offering a seamless and efficient process.

Upon receiving the necessary due diligence documents from directors and shareholders, Fionza Consultants initiates a search for your preferred business trade name. Subsequently, we handle the company name registration with the Department of Trade and Industry.

Our incorporation process is conducted remotely, eliminating the need for you to travel for company registration in the Philippines. For select business entities, expect your company to be registered within 3 weeks, receiving essential documents such as a company registration certificate, memorandum & articles of association, and the register of directors and shareholders.

Within 4 weeks of initiating the company registration, Fionza Consultants will facilitate the opening of a corporate bank account, either locally or with an overseas global bank, aligning with your business goals.

Consequently, you can anticipate commencing operations and issuing invoices with your Philippines company within 7 weeks of engaging Fionza Consultants. Please note that timelines may vary based on the business entity, activity, and corporate structure.

For a detailed, step-by-step guide on how to register a company in the Philippines, Fionza Consultants has you covered. Learn more about the seamless process tailored to your business needs.

How to open a company in Philippines?

Embark on a streamlined journey to register your company in the Philippines with Fionza Consultants through the following SEO-optimized steps:

Step 1: Planning and Strategy Fionza Consultants begins by understanding your business activities and needs, recommending the most suitable business entity tailored to your requirements.

Step 2: Pre-registration Requirements Upon confirmation, we advise on Philippines’ company registration requirements, covering aspects such as the need for a local resident agent, company secretary, and financial statement preparation. We also check the availability of your preferred business name and initiate the application with the Securities and Exchange Commission (SEC).

Step 3: Registration with SEC Once requirements are met, we prepare necessary incorporation documents, including the Article of Incorporation and Treasurer’s Affidavit, and remotely register your company with the SEC. Post-registration, we courier the Certificate of Incorporation, containing your registration number, to your preferred address.

Step 4: Acquire Barangay Clearance and Business Permit Fionza Consultants handles the application for Barangay Clearance and Business Permit, requiring documents such as Certificate of Business Registration, proof of address, and identification documents.

Step 5: Registration with BIR We assist in registering with the Bureau of Internal Revenue, obtaining the Community Tax Certificate with the Taxpayer Identification Number.

Step 6: Registration with Other Agencies For businesses with employees, we register with agencies like the Social Security System and Philippine Health Insurance Corporation. Additional licenses or permits are secured based on your business activities.

Step 7: Open a Bank Account Leveraging our extensive banking network, Fionza Consultants assists in opening a bank account for your business.

Step 8: Compliance with Local Laws After incorporation, we ensure ongoing compliance with local laws, handling tasks such as annual tax return filing and financial statement preparation.

Explore a hassle-free and SEO-optimized company registration process with Fionza Consultants in the vibrant business landscape of the Philippines.

Types of companies in the Philippines

When considering business registration in the Philippines, foreign investors encounter various company types. Fionza Consultants guide you towards the optimal business entity based on your activities, structure, and long-term goals. Below are some key options:

Domestic Corporation:
- Similar to an LLC, it’s a popular choice.
- Separate legal entity; owners aren’t personally liable.
- Full foreign ownership allowed in specific industries.
- Requirements include a resident agent, directors, and a minimum paid-up capital.
One Person Corporation (OPC):
- Limited liability for the sole shareholder, who is also the director and president.
- Common for SMEs; full foreign ownership in selected industries.
- No minimum authorized paid-up capital required.
Branch Office:
- An extension of the foreign parent company.
- Parent company is liable for branch debts.
- 100% foreign ownership allowed; minimum paid-up capital varies.
Representative Office (RO):
- For in-depth understanding before formal registration.
- Limited to non-commercial activities like market research.
- No corporate income tax; no access to Double Tax Avoidance Agreements.
Holding Company:
- Controls assets of other companies; no direct production.
- Requirements include being a multinational company with specific investments.
Free Trade Zone Company:
- Stimulates growth in designated zones with fiscal incentives.
- Exempt from Corporate Income Tax for up to 6 years.
- Special Tax of 5% on Gross Income post the income tax holiday.

For each type, Fionza Consultants provide tailored advice to ensure compliance and success in the Philippine business landscape.

Advantages and disadvantages of choosing to register company in Philippines

Welcome to Fionza Consultants, your trusted partner for seamless business registration in the Philippines. Our expert team is committed to addressing all your queries and ensuring a smooth integration into the nation’s business landscape. We employ a PESTLE framework for a comprehensive analysis, ensuring the feasibility and practicality of establishing your business in the Philippines.

Political Landscape: In terms of political stability, the Philippines ranks 113th in the Corruption Perceptions Index, indicating potential challenges in the public sector. However, the nation’s positive political ties with neighboring countries, facilitated by ASEAN membership, provide foreign investors with confidence and opportunities.

Economic Overview: While corporate income tax rates are relatively high, strategic structuring can lead to exemptions. The Global Competitiveness Report places the Philippines at 64th out of 141 countries, showcasing its productivity. With a nominal GDP ranking of 36th globally, the Philippines boasts the 13th largest economy in Asia.

Social Dynamics: The Philippines offers a highly proficient English-speaking population, ranked 20th globally. With a population of approximately 106 million, a labor force participation rate of 61%, and a growing middle-income consumer market, the country provides access to a robust domestic market.

Technological Landscape: Ranked as the 4th most tech-ready economy in Southeast Asia, the Philippines is fostering technological innovation. Initiatives like the supervisory sandbox by the Bangko Sentral ng Pilipinas and the Cagayan Special Economic Zone for FinTech businesses contribute to the nation’s tech-friendly environment.

Legal Environment: While the ease of doing business ranking is average, Free Trade Zones and recent revisions to the Corporation Code enhance the regulatory environment. These reforms simplify foreign investment procedures, eliminating mandatory requirements for the minimum number of shareholders.

Environmental Considerations: Despite challenges highlighted in the Environmental Performance Index, efforts are underway to address environmental issues. The Philippines has received funding for technological advancements in environmental conservation, and regulatory frameworks like Republic Act 9275 aim to protect water bodies from pollution.

At Fionza Consultants, we navigate these facets to ensure your business establishment in the Philippines is both compliant and strategically positioned for success. Contact us for personalized assistance tailored to your business needs.

Accounting and tax considerations

Discover the tax landscape for businesses in the Philippines with Fionza Consultants. Businesses in the country face a corporate tax rate of 30%, surpassing the worldwide average of 24%. Resident companies and branch offices are subject to this tax. However, our expert team can guide you through tax exemptions available for entities in Free Trade Zones, granting a tax holiday for up to 6 years, pending approval.

For transparency and compliance, an annual statutory audit overseen by the Bureau of Internal Revenue is mandatory for businesses with paid-up capital exceeding PHP 50,000 or annual earnings surpassing PHP 3,000,000. Fionza Consultants streamlines this process by registering with the Philippine Bureau of Internal Revenue and facilitating your corporate tax returns on an annual basis.

Stay informed about crucial accounting and tax considerations for your business in the Philippines by visiting our website. Fionza Consultants is your dedicated partner for navigating the intricacies of the Philippine tax system.

Looking to register company in Philippines?

Contact us to find out more about how to register company in Philippines. Our team of experts will revert within the next 24 hours.

FAQ

Can foreigners own a company in the Philippines?

Yes, foreigners can open a company in the Philippines. Foreigners can have complete ownership over their business in selected industries, which can be found in the Foreign Investment Negative List.

How do I register my LLC in the Philippines?

An LLC is similar to a Domestic Corporation in the Philippines. In order to register this form of business you need to follow these steps:

Step 1: Check availability and reserve your preferred business name with the SEC.

Step 2: Check to see if you meet all the requirements of setting up such a company which includes a need for a resident agent, local company secretary, 2 to 15 directors, and four corporate officers.

Step 3: You must register the company with the SEC by submitting the Article of Incorporations and any other documents required.

Step 4: You must acquire the Barangay Clearance from the Barangay where your business is located.

Step 5: You must acquire the business permit from the Municipality where your business is located.

Step 6: You must then register your business with the Bureau of Internal Revenue to receive a tax certificate.

Step 7: If you wish to recruit employees, you need to obtain a license from other government agencies including the Philippine Health Insurance Corporation, Social Security, and more.

Step 8: You must then set up a bank account.

How do you check if the company is registered in the Philippines?

In order to check company registration in the Philippines, you can visit the Securities and Exchange Commission (SEC)’s official website and search for the business using its trade name.

How much is the business registration in the Philippines?

The total engagement fee depends on the services you require from us. Our service package includes company registration, nominee director service, the opening of a bank account, and more.

This total fee includes the government fee charged during the registration process. The government fee differs depending on the legal entity you wish to set up.

How much money do you need to start a business in the Philippines?

The total money you need to start a business in the Philippines depends on your business activities, the type of business you wish to set up, and the services you require from us at Fionza Consultants.

For example: if you wish to set up a foreign-owned Domestic Corporation, you will be required to invest a paid-up capital of USD 200,000 and if you wish to set up a Domestic Corporation (less than 40% foreign ownership), you need to invest a paid-up capital of USD 100. Moreover, if your foreign domestic corporation’s business activity involves the use of advanced technology or at least 50 locals, then the paid-up capital will be reduced to USD 100,000.

Who needs to register with DTI?

DTI stands for the Department of Trade and Industry. Sole proprietors are supposed to register with the DTI. In order to apply, these individuals must meet the following criteria:

The individual must be at least 18 years of age.

The individual must be a Filipino citizen or a foreign national who has the Certificate of Registration of Sole Proprietorship to engage in Business in the country.

The individual may be a refugee or stateless person.

Can a foreigner buy a house in the Philippines?

Yes, foreigners can buy a house in the Philippines. However, they are not allowed to own any land in the country. The ownership of property is subject to various restrictions. For example: foreigner can purchase their own condos as long as 60% of the property is owned by Filipinos.

What is the purpose of a DTI permit?

The purpose of a DTI permit is to register the business of a sole proprietor. This permit ensures that no other business or organisation can have the same business name as you and records the nature and activities of the business. This will ensure that there are no legal problems faced by the business in the future.

What is the best business to do in the Philippines?

The best business to do in the Philippines will be one in the Service, Manufacturing, and Fintech industries. The service industry accounts for 60% of the GDP and employs up to 56% of the population. Business process outsourcing (BPO) is the most important in the success of this industry because of the specially skilled workforce who are proficient in English.

Another possible industry that may be advantageous for your business is the manufacturing industry, which accounts for 24% of the country’s GDP and generates over three million employment opportunities. You can take advantage of the extensive capabilities of the country’s manufacturing industry.

On the other hand, you can set up business in the Fintech industry which is growing worldwide due to an increased need for digital connectivity and advancement in this digital age. Additionally, the Philippines’ National Banking Authority, the Bangko Sentral ng Pilipinas (BSP) launched a supervisory sandbox to facilitate a conducive and FinTech friendly business environment for aspiring investors, which may be advantageous for the business choosing to enter this industry.

Register Company in Phillippines