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How to start business in phiippines

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1 How to start business in phiippines on Sat Sep 24, 2016 5:23 pm

maryjorjaneesteves


Arresto Menor
hi po..ask lang sana ako ng legal advise when it comes to establishing new business in philippines. ano po ba ang mas maganda kasi ang boss ko (foreigner) balak magtayo ng business sa pilipinas ano po ba ang mga requirements and type of business na dapat nyang kunin? or much better po bang sakin na lang nya ipangalan ang business? thank you po sa mga sasagot.

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2 Re: How to start business in phiippines on Wed Oct 12, 2016 9:22 pm

Lunkan


Reclusion Perpetua
There are restrictions concerning foreigners owning business in the Philippines. The most common is owning max 40 %. There are a few exceptions though both max less than 40 % and possible to own whole, but it depend of business type.
Perhaps it can be a Joint Venture between the foreign company and you starting one in the Philippines.

More info are needed to tell what can be good in your case.

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pinkberrybuzz


Arresto Menor
Gooday..

hope this can answer your inquiry..

Since your boss is a foreigner, he will fall under the category of Corporation and below are the requiements:

*Minimum of 5 Incorporators / Stockholders
* Passport copy for Foreign Stockholders / Foreign and Philippine address
* For Filipino: TIN ID /TIN NO. / Philippines address
* Proposed NAME OF COMPANY
* PHILIPPINE PRINCIPAL ADDRESS OF COMPANY
* Copy of Lease Contract
* Company telephone /Contact No. /Company Email address

PERMITS NEEDED ARE:
* SEC REGISTRATION: ART OF INC & BY LAWS
-- with Authorized capital Stocks of Php10,000,000.00 (if the company is 100% Foreign owned)
-- 40 Foreign/ 60% Filipino --> only to those allowed businesses which are not under the category of      restricted to Filipinos only eg: RESTAURANT
* BRGY CERTIFICATE
* MAYORS PERMIT  
* BIR Certificate of Registration
-BIR 0605
-BIR 2000-Documentary Stamp for Lease Contract
- BIR 2000- Documentary Stamp for Shares Stocks
- BIR 1903
- Issuance of official Receipts / Sales Invoice

and most importantly, a foreign national should apply for appropriate working visa in the Philippines

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4 Re: How to start business in phiippines on Thu Oct 13, 2016 11:42 pm

Lunkan


Reclusion Perpetua
pinkberrybuzz wrote: -- with Authorized capital Stocks of Php10,000,000.00 (if the company is 100% Foreign owned)
-- 40 Foreign/ 60% Filipino --> only to those allowed businesses which are not under the category of      restricted to Filipinos only eg: RESTAURANT
Except - IF I have understood corect - if the business is EXPORT business (=export minimum 60 %) then a foreigner can own whole without demand of such high stock capital.

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