A quick guide on how to set up a business in the Philippines, from company name registration to registering with SSS, PhilHealth, and Pag-IBIG.
business registration philippines
The Securities and Exchange Commission (SEC), under the SEC Memorandum Circular (MC) No. 16 Series of 2020, adopts a relaxed set of guidelines on the authentication of Articles of Incorporation in applications for registration of new domestic corporations, promoting an easier process for business registration in the Philippines.
The Ease of Doing Business Act of 2018, or Republic Act 11032, aims to cut excessive red tape and make it easier to start and operate a business in the Philippines.
Research the government regulations applicable to the industry you wish to enter
Determine the restrictions on foreign ownership of business or ownership of property including private land
Check the foreign exchange policies
Application for Approval of Start of Commercial Operations (SCO) – first year only
The application for approval of SCO is one of the prerequisites for the validation of the Income Tax Holiday (ITH) Incentive and securing of the PEZA Certificate of Available Incentives. This must be filed within seven (7) days from the actual commencement of commercial operations.
The Philippine Economy is booming and one of its driving force is the Business Process Management Industry. With the Country’s diverse workforce and its flexibility to blend with different cultures, businesses from around the world can easily outsource or set up their operations in the country.
An open discussion on the proper registration of your business and registration of foreign investments with the Central Bank of the Philippines
In his first state of the nation address (SONA) on July 26, 2010, newly elected president Benigno Aquino III vowed to boost foreign investments in the country, fight corruption within the government sector and create job opportunities for the local workforce. Aquino promised to “boost collection and fight corruption in the tax and customs bureaus” and to provide for the education, housing, and health care needs of working class Filipinos.