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The following are some of the most frequently asked questions about Philippines Company Formation:
How long does it take to incorporate a Philippines company?
How difficult is it to open a corporate bank account for a Philippines company?
Am I required to visit Philippines to incorporate a company there?
What is the minimum number of directors required for a Philippines company?
Is a resident director required?
What is the minimum number of shareholders required for a Philippines company?
Are shareholder/director details available for public viewing?
Can my company be 100% foreign owned?
What are the minimum capital requirements for a Philippines company?
Is a Philippines company required to submit an annual return and/or financial statements?
How much tax does a Philippines Company pay?
Does a Philippines company benefit from Double Taxation treaties?
How long does it take to incorporate a Philippines company?
Registering a Philippines company takes about eight weeks.
How difficult is it to open a corporate bank account for a Philippines company?
Opening a corporate bank account opening is complex and time consuming.
Am I required to visit Philippines to incorporate a company there?
No. Healy Consultants can legally incorporate your Philippines company without you needing to travel.
What is the minimum number of directors required for a Philippines company?
Under statutory regulations, a Philippines company requires a minimum of five directors. Corporate directors are allowed.
Is a resident director required?
A Philippines company does require a resident director.
What is the minimum number of shareholders required for a Philippines company?
A minimum of five shareholders is required. The majority of the shareholders need to be Filipino.
Are shareholder/director details available for public viewing?
Yes.
Can my company be 100% foreign owned?
A business can be 100% foreign-owned if it is located in an Export Processing Zone or Special Economic Zone.
What are the minimum capital requirements for a Philippines company?
A Philippines company requires a minimum capital of US$200,000.
Is a Philippines company required to submit an annual return and/or financial statements?
A Philippines company is obliged to submit an annual return and/or financial statements to the Bureau of Internal Revenue. It is also required to have the accounts audited.
How much tax does a Philippines Company pay?
Philippines companies located outside the special economic zones are subject to a corporate tax of 32%.
Does a Philippines company benefit from Double Taxation treaties?
No, but Philippines is a member of the Association of Southeast Asian Nations (ASEAN) and therefore can gain access to key markets in ASEAN member states via preferential trade deals.
Contact Us
For more information on any of our Philippines corporate services, email email@healyconsultants.com or telephone us at (+65) 6735 0120.
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