Establishing your base in the Philippines requires obtaining certain licenses. You can register with the government via an online form which will issue you a business name and license.
Businesses in the Philippines need to be registered both centrally and locally. Local registration is done in local government offices where you will be issued with a permit allowing you to operate your business locally. This process takes between 8 and 12 weeks.
You may need to obtain special permits and licenses. This is only the case for government-regulated activities, our dedicated teams will assist you in obtaining these licenses.
DIFFERENT TYPES OF COMPANIES:
SOLE PROPRIETORSHIP
Registering your business as a sole proprietorship means you have full control over the company and makes you solely responsible for all profits and losses.
PARTNERSHIP
Registering as a partnership is a necessity for companies with two proprietors where both parties have liability for debts and obligations.
CORPORATION
Companies with up to 40% foreign equity can register as a Philippine corporation, companies with more than 40% foreign equity, will be considered a domestic foreign-owned corporation. The liability of shareholders within a corporation is dependent on their share capital within the company.
SUBSIDIARY
Companies where the parent owns at least 51% of the shares and has its own legal entity in the Philippines.
STOCK CORPORATION
Stock Corporation is a corporation with capital stock divided into shares.
NON-STOCK CORPORATION
Non Stock Corporation is a corporation organized principally for public purposes such as charitable, educational, cultural, or similar purposes and does not issue shares of stock to its members.
PUBLIC-PRIVATE PARTNERSHIP
A Public-Private Partnership (PPP) is a mutual agreement between the government and a private firm. These partnerships usually cover projects around designs, buildings, finances and infrastructure.
Both local and national governments enter PPPs with contracts spanning from 20-30 years.
Should you consider entering a PPP in the Philippines, our government has streamlined the process into four stages:
- Proposal
- Assessment and approval
- Procurement
- Implementation
Want to learn more about setting up a business in the Philippines?
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