Doing Business in the Philippines
The Philippines, although a developing country, is a great place to invest and to live and settle down.
Aside from the English speaking work force, the Philippines is a good market for consumer products considering its consumer driven population of over 80 million people.
Doing Business
Setting up a business in the Philippines is easy depending on the kind of business that you would want to go into. But whatever your business is, you will have to go through a business registration process. If you are setting up a corporation, you will have to register your corporate papers with the Securities and Exchange Commission. If you are a foreigner, you will only be allowed to own 40% of the corporation. The rest (60%) will have to be owned by Filipino Citizens. If your business is a single proprietorship, you may register it with the Department of Trade (DTI). Then you will be required to register your business with the Bureau of Internal Revenue and finally to the local government (City of Municipality) where your business is located. After undergoing this process and obtaining the necessary registration papers from these agencies, you are now ready to operate your business.
There are various locations that offer incentives to investors. Some investors find it convenient to set up their business in Freeport zones that are found in key a cities and industrial areas in the country. Among the known Freeport zones are Subic Bay Freeport Zone located in the former US Naval Base in Subic Bay, Zambales. Travel time to Subic from Metro Manila is about one and a half hours. This Freeport zone is the most popular among the existing Freeport areas in the country. Subic has a topnotch Seaport facility that can accommodate large ocean vessels from all over the world. Subic Freeport is also host to the Subic International Airport, a premiere international airport built by the US Air Force. The other major Freeport zone is the Clark Freeport Zone located in Angeles, Pampanga. It has almost the same facilities as that of Subic except that it has no Seaport.
Aside from these two Freeport Zones, there are a good number of economic zones that have complete facilities for commercial and industrial operations. These economic zones offer various tax and business incentives to foreign investors, including duty free importation of capital equipment.
An interesting and persuasive article. Thanks.
This is a good article to boost up our pinoy pride..i love it!
ANG SARAP ng feeling pg my business.kso prang ang hirap.but i wil do my best to pursue my dream…godbless!more power!
maganda talaga ang may business, dati empleyado lang ako now i have 4 branches na in two years…
Nice read, that’s why I was out in the country for a prospective funding during retirement. There’s a lot of many good things in our home country but if you don’t have money in your pocket you could just watch all the good things go if you know what I mean.
Will
This article is very nice and it gives encouragement to the people who wants to have their own business.
Being in the business world is not that easy there are risk that you have to do for you to be able to achieve the goals that you have set to attain it. Be confident enough that you can manages your business well and be more smart, updated with the econmis system so that you can make adjustment.
This is true that investing in the Phillipines is very easy and aside from that you could process it in a faster with legalize papers.. that is very easy so invest now!
Pretty Sure that what you would be investing will grow in this country which is philippines.. the more you invest your property the more it will grouw
This post is true. Philippines is the best place in putting up a business even though you have to risk your money, you need confidence and positive thinking must be in control. There
are so many places here in the Philippines that has a potential landmark in putting up a business opportunities which are very wide and abundant.
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http://www.kittelsoncarpo.com/philippines-business-registration
It’s true that Philippines has the potential to make a big splash in business, but hard work is really needed because many business estbalishment had experience bankruptcy and it’s true that it is risky, but then it is worth risky.
Great article, well written and easy to understand.
The business side sounds to lop sided for me 40/60 split..?
Though here in America you pay almost 50% in taxes and now Obummer Care, (IF) you don’t know how to move the money around. (Poor people call it loop hole for the rich)
The living and retiring portion sounds great! It sounds like the government really wants to encourage people to take up residence. They just need to work on that 40/60 split thing on the business ownership side. I would guess (uneducated guess) that there is a LOT of business corruption that happens under the radar there with the wealthy companies to get around that split.
Great post!
Eric Pinola
Thanks for your perspective and points here
Great article but besides the economic zones there is the BOI Board of Investments which is giving similar benefits as PEZA but no restrictions on location