HOW to ESTABLISH A BUSINESS in the PHILIPPINES?
(Simple Steps for Foreigners)
(Simple Steps for Foreigners)
After a much better performance compared last year, the Philippine Economy has proven to be strong as ever and is set to grow faster that what was initially projected. A growth of 6.6% last year was a huge leap and economists have stated that it is because of the numerous and widespread investment contributions from the international sector that made the economy steady and financially viable for investors.
If you are an Expat or a a foreign investor wanting to put up a business in the Philippines, you might want to continue reading and be guided properly on how to properly establish a business in the country.
1. Business Registration - You can file for a business registration through the Department of Trade and Industry (DTI) or if you are planning to put up a corporation or partnership, register instead at the Securities and Exchange Commission (SEC). All requirements are listed on their website and just simply comply with them.
Assuming that you have found an office location viable for your business. Although, note that for purposes of accessibility, always choose a strategic location such as Ortigas, Fort Global City or Araneta Center - Ayala is already too crowded. Then proceed with the next steps:
2. Barangay Permits/Clearance - This is a document required prior obtaining a Mayor's permit. Remember that this would still require some documents during the application process.
3. Mayor's Permit - Apply this at the municipality or city hall where your business is located. It has a different set of requirements which you can easily obtain and comply as well.
4. Bureau of Internal Revenue (BIR) Registration - Never ever forget to do this as this, unless you plan to put up an illegal business in the Philippines, which of course, is subject to various criminal offenses in the country. This is where you will get your Certificate of Registration (COR), Official Business Receipts, and Business TIN Number for taxation purposes.
If you have enough capital and you think you have the right products/services to sell, then you are off to a good start for your business in the Philippines. Another quickest way to work on those requirements and permits is hiring a business lawyer however, I would always recommend hiring an HR Manager as they have the most experience in handling business start-ups including permit registration and application. Plus, you need them to start hiring your first set of employees which means employment laws would come in.
If you are an Expat or a a foreign investor wanting to put up a business in the Philippines, you might want to continue reading and be guided properly on how to properly establish a business in the country.
1. Business Registration - You can file for a business registration through the Department of Trade and Industry (DTI) or if you are planning to put up a corporation or partnership, register instead at the Securities and Exchange Commission (SEC). All requirements are listed on their website and just simply comply with them.
Assuming that you have found an office location viable for your business. Although, note that for purposes of accessibility, always choose a strategic location such as Ortigas, Fort Global City or Araneta Center - Ayala is already too crowded. Then proceed with the next steps:
2. Barangay Permits/Clearance - This is a document required prior obtaining a Mayor's permit. Remember that this would still require some documents during the application process.
3. Mayor's Permit - Apply this at the municipality or city hall where your business is located. It has a different set of requirements which you can easily obtain and comply as well.
4. Bureau of Internal Revenue (BIR) Registration - Never ever forget to do this as this, unless you plan to put up an illegal business in the Philippines, which of course, is subject to various criminal offenses in the country. This is where you will get your Certificate of Registration (COR), Official Business Receipts, and Business TIN Number for taxation purposes.
If you have enough capital and you think you have the right products/services to sell, then you are off to a good start for your business in the Philippines. Another quickest way to work on those requirements and permits is hiring a business lawyer however, I would always recommend hiring an HR Manager as they have the most experience in handling business start-ups including permit registration and application. Plus, you need them to start hiring your first set of employees which means employment laws would come in.
Contact us at whaddahecknews@usa.com to request for referrals on the best HR Manager/Director (Philippine-Based) Candidates who can assist you further.
And guess what? This is for FREE.
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