Frequently Asked Questions about Philippines |
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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. |
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| 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. |
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| 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. |
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| 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. |
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| Is a resident director required? A Philippines company does require a resident director. |
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| 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. |
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| Are shareholder/director details available for public viewing? Yes. |
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| 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. |
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| What are the minimum capital requirements for a Philippines company? A Philippines company requires a minimum capital of US$200,000. |
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| 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. |
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| How much tax does a Philippines Company pay? Philippines companies are taxed at a tax rate of 32%. |
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| 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. |
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| Contact Us | |||||||||||||||||
| For more information on any of our Philippines corporate services, email email@healyconsultants.com or telephone us at (+65) 6735 0120. | |||||||||||||||||
| Back to Philippines Company Formation page. | |||||||||||||||||
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