|
| |||||||
Philippines Company Registration | |||||||
Philippines company registration is challenging due to the lack of transparency over procedures and costs. Important points to note about Philippines company registration include:
| |||||||
| 1. | Philippines company registration takes up to 8 weeks, including i) company name approval ii) filing corporate documents with relevant authorities iii) paying government registration fees and iv) obtaining a Community Tax Certificate (CTC). Applications to incorporate a Philippines company are lodged with the Securities and Exchange Commission (SEC). Through the SEC, companies are incorporated and administered.
| ||||||
| 2. | To meet Philippines company registration regulations, a minimum of five shareholders and five directors are required. The majority shareholding must be Filipino, unless 100% foreign ownership is granted. A business may be considered 100% foreign-owned if it is located in an Export Processing Zone or Special Economic Zone(SEZ). | ||||||
| 3. | Philippines company law is governed by the Corporation Code of the Philippines.
| ||||||
| 4. | A Philippines company requires a minimum capital of US$200,000. | ||||||
| 5. | Philippines companies located outside the Special Economic Zones (SEZs) are subject to a corporate tax of 32%. Those within the SEZs pay a corporate tax of just 5%.
| ||||||
| 6. | A Philippines company is required to submit annual returns and/or financial statements to the Philippines Bureau of Internal Revenue. It is also required to have the accounts audited. Through the Bureau of Internal Revenue, tax returns are processed and exemptions (if any) granted.
| ||||||
| 7. | For detailed information on Philippines company registration, purchase our Asia Business Setup book, contact email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
| ||||||
Back to Philippines Company Formation page
| |||||||
Buy the Philippines chapter of Healy Consultants' Asia Business Set Up book for US$100, to order call +65 6735 0120 or e-mail email@healyconsultants.com
|
© 2006-2011 Asia Business Setup Pte Ltd
|
ASIA BUSINESS SET UP |