Official Name: Philippines
Manila
English, Filipino
Philippine peso
OUR SERVICES;
- Consultation (in person, online, phone)
- Helping to prepare your documents
- Start to finish your company registration process
- Immigration services
Philippines
The Philippines is a vibrant and diverse nation located in Southeast Asia, with a rich history, vibrant culture, dynamic economy, and complex political landscape. Let’s delve into each of these aspects and explore the fascinating story of the Philippines.
History:
The history of the Philippines is a tapestry woven with the threads of indigenous cultures, colonial influences, and the struggle for independence. The archipelago was home to various indigenous groups, including the Aeta, Igorot, and Tagalog, among others. In the 16th century, Spanish explorers arrived, led by Ferdinand Magellan, marking the beginning of Spanish colonization. Spanish rule lasted for nearly 400 years, deeply influencing the language, religion, and culture of the Filipino people.
The Philippines came under American control in 1898 following the Spanish-American War. During this period, Filipinos fought for independence under the leadership of figures like Emilio Aguinaldo. The Philippines finally gained independence from the United States in 1946, establishing itself as a sovereign nation.
Culture:
The Philippines is a melting pot of cultures, where indigenous traditions intertwine with Spanish, American, Chinese, and Malay influences. The Filipino people are known for their warmth, hospitality, and strong sense of community. Festivals like the Sinulog in Cebu, the Ati-Atihan in Kalibo, and the Pahiyas in Lucban showcase the vibrancy of Filipino culture and its religious and agricultural roots.
Filipino cuisine is diverse and flavorful, combining indigenous ingredients with Spanish, Chinese, and Malay flavors. Signature dishes such as adobo (meat marinated in soy sauce and vinegar), sinigang (a sour soup), and lechon (roasted pig) are beloved by locals and celebrated internationally.
Economy:
The Philippine economy has experienced significant growth and transformation in recent decades. It is one of the fastest-growing economies in Southeast Asia. Key sectors include services, manufacturing, agriculture, and information technology. Remittances from overseas Filipino workers also play a crucial role in the economy.
The country boasts a young and skilled workforce, making it an attractive destination for foreign investors. However, challenges such as income inequality and poverty remain prevalent, necessitating ongoing efforts to promote inclusive growth and sustainable development.
Politics:
The political landscape of the Philippines is characterized by a democratic system with a presidential form of government. The President is both the head of state and the head of government. The Philippines has a multi-party system, and elections are held regularly to elect the President, legislators, and local officials.
Political dynamics in the Philippines are often influenced by issues such as corruption, poverty, and regional disparities. Nevertheless, the country has a strong tradition of activism and civil society engagement, with movements advocating for social justice, human rights, and good governance.
In recent years, the Philippines has faced various challenges, including territorial disputes in the South China Sea, the ongoing battle against terrorism, and the response to natural disasters. These issues have shaped the country’s foreign relations and domestic policies.
Types of Companies in Philippines
Sole Proprietorship:
A sole proprietorship is the simplest and most common type of business structure. It is owned and operated by a single individual. The owner has complete control over the business, but they are personally liable for all debts and obligations. Registering a sole proprietorship requires securing the necessary local permits and licenses.
Partnership:
A partnership is formed by two or more individuals who agree to contribute money, property, or industry to a common fund with the intention of sharing profits. There are two main types of partnerships in the Philippines: general partnerships and limited partnerships. In a general partnership, all partners have unlimited liability, while in a limited partnership, there are both general partners and limited partners, with the latter having limited liability.
Corporation:
A corporation is a legal entity separate from its shareholders or owners. It is formed by incorporating with the Securities and Exchange Commission (SEC). Shareholders’ liability is limited to their investment in the corporation. Corporations have a more complex structure and are subject to specific regulations, including the appointment of directors and officers, holding annual meetings, and maintaining proper corporate records.
Limited Liability Company (LLC):
The Limited Liability Company (LLC) is a relatively new type of business structure in the Philippines. It combines elements of partnerships and corporations, providing limited liability protection to its members while allowing for more flexible management and tax advantages. The LLC structure requires registration with the SEC.
Cooperative:
A cooperative is an association of individuals or entities who voluntarily come together to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically controlled enterprise. Cooperatives can be engaged in various industries, including agriculture, retail, finance, and housing. They follow a cooperative set of principles and are governed by the Cooperative Development Authority (CDA).
Branch Office:
Foreign companies that wish to establish a presence in the Philippines can set up a branch office. A branch office operates as an extension of the foreign company and is not considered a separate legal entity. It is required to secure the necessary permits and licenses from the appropriate government agencies.
Representative Office:
A representative office is another option for foreign companies looking to establish a presence in the Philippines. Unlike a branch office, a representative office is limited to performing non-income-generating activities such as market research, promotion, and liaison activities. It cannot engage in direct commercial transactions but serves as a liaison between the parent company and clients or customers in the Philippines.
Common questions
What is the first step to register a company in the Philippines?
The first step is to reserve a company name with the Securities and Exchange Commission (SEC).
How can I check if my desired company name is available for registration?
You can check the availability of a company name through the SEC’s online verification system or by visiting the SEC office.
What are the basic requirements for company registration in the Philippines?
The basic requirements include accomplished application forms, articles of incorporation, by-laws, treasurer’s affidavit, and proof of capitalization.
Can a foreigner register a company in the Philippines?
Yes, foreigners can register a company in the Philippines, subject to certain restrictions and requirements.
What are the restrictions for foreign ownership in Philippine companies?
Foreign ownership restrictions vary depending on the industry. Some industries may require a minimum percentage of Filipino ownership.
What is the minimum capital requirement for company registration?
The minimum capital requirement depends on the type of business activity. Some types of companies have no minimum capital requirement.
Can I register a company without a physical office in the Philippines?
Yes, it is possible to register a company without a physical office, but you will need to provide a local address for correspondence.
How long does it take to register a company in the Philippines?
The registration process can take anywhere from a few weeks to several months, depending on the completeness of the requirements and government processing times.
Can I register my company online?
Yes, the SEC has an online registration system called the Company Registration System (CRS) for the convenience of applicants.
Do I need to hire a lawyer or a professional service provider to register a company?
While it is not mandatory, it is highly recommended to seek the assistance of a lawyer or professional service provider to ensure compliance with all legal requirements.
What is the difference between a corporation and a partnership?
A corporation is a separate legal entity from its shareholders, while a partnership is a business structure where partners share profits and liabilities.
How many directors are required for a corporation?
A corporation must have at least five directors, but not more than 15, as per Philippine law.
What is the required number of shareholders for a corporation?
A corporation must have at least five shareholders, but not more than 15 for a non-publicly listed company.
Can I be the sole shareholder and director of my corporation?
Yes, you can be the sole shareholder and director of your corporation.
Do I need to have a local Filipino partner to register a company?
Depending on the industry, some business activities may require Filipino ownership or participation.
What are the tax obligations of a registered company in the Philippines?
Registered companies in the Philippines are subject to various taxes, including income tax, value-added tax (VAT), and other applicable local taxes.
Do I need to obtain any specific licenses or permits for my company?
Yes, depending on the nature of your business, you may need to obtain licenses or permits from relevant government agencies, such as the Department of Trade and Industry (DTI) or local government units (LGUs).
Is it mandatory to register with the Bureau of Internal Revenue (BIR)?
Yes, registration with the BIR is mandatory for all businesses to obtain a Tax Identification Number (TIN) and fulfill tax obligations.
Can I register a sole proprietorship without a business name?
Yes, you can register a sole proprietorship using your own name without a business name.
Is it possible to change the company name after registration?
Yes, it is possible to change the company name after registration by filing the necessary amendments with the SEC.
How can I protect my company name from being used by others?
Once your company name is registered, it is protected from being used by others for similar business activities.
“Our team can provide assistance if you need help registering a company in the Philippines”
Can I register multiple businesses under the same name?
No, you cannot register multiple businesses under the same name to avoid confusion and protect the uniqueness of each company.
Can I register a company for online business activities?
Yes, you can register a company for online business activities, provided you comply with the necessary requirements.
What is the required share capital for a corporation?
The required share capital for a corporation depends on the nature of the business and the minimum capitalization requirements set by law.
Can I start my business operations immediately after registration?
Yes, once your company is registered, you can start your business operations, provided you have obtained the necessary permits and licenses.
Can I register a company with foreign shareholders but without foreign capital investment?
Yes, it is possible to have foreign shareholders without foreign capital investment. The capital can be sourced locally.
Are there any incentives or benefits for registering a company in certain industries or locations?
Yes, certain industries or locations may offer incentives or benefits, such as tax exemptions, grants, or preferential treatment for registered companies.
Can I register a company if I am a minor or not of legal age?
No, individuals who are minors or not of legal age cannot register a company in their name. They would need a legal guardian or representative to do so.
Can I register a company if I have a criminal record?
Having a criminal record does not automatically disqualify you from registering a company. However, certain offenses may have specific restrictions or requirements.
Can I register a company if I have outstanding debts or financial liabilities?
Having outstanding debts or financial liabilities does not necessarily prevent you from registering a company. However, it is essential to fulfill financial obligations and manage liabilities responsibly.
Do I need to register my company with the Social Security System (SSS) or PhilHealth?
Yes, registration with the SSS and PhilHealth is required for companies with employees.
Can I register a non-profit organization in the Philippines?
Yes, non-profit organizations can be registered as corporations or foundations, depending on their specific purpose and activities.
Can I register a company with a foreign business address?
No, a local address in the Philippines is required for company registration to facilitate correspondence and compliance with local regulations.
Do I need to open a separate bank account for my registered company?
Yes, it is advisable to open a separate bank account for your registered company to keep business transactions and personal finances separate.
Can I register a company if I am not a Filipino citizen and don’t have a permanent residency status?
Yes, non-Filipino citizens can register a company in the Philippines, subject to certain restrictions and requirements.
Can I register a company if I am an overseas Filipino worker (OFW)?
Yes, overseas Filipino workers can register a company in the Philippines, provided they fulfill the necessary requirements.
What are the ongoing compliance requirements after company registration?
Ongoing compliance requirements include annual general meetings, financial reporting, tax filings, and renewals of permits and licenses.
Can I register a company if I don’t have a tax identification number (TIN)?
No, obtaining a tax identification number (TIN) from the Bureau of Internal Revenue (BIR) is a requirement for company registration.
What is the difference between a stock corporation and a non-stock corporation?
A stock corporation is a for-profit entity with shares of stock owned by shareholders, while a non-stock corporation is a nonprofit entity without shares of stock, typically organized for charitable, educational, or religious purposes.
“Our team can provide assistance if you need help registering a company in the Philippines”
Can I register a company if I am already employed in another company?
Yes, you can register a company while being employed in another company, as long as you comply with any conflict of interest provisions or employment restrictions.
Can I register a company if I am a foreign student studying in the Philippines?
Yes, foreign students studying in the Philippines can register a company, subject to compliance with relevant laws and regulations.
Do I need to provide a business plan for company registration?
While a business plan is not specifically required for company registration, it is advisable to have a well-prepared business plan for your own guidance and future success.
Can I register a company if I am a senior citizen or retiree?
Yes, senior citizens or retirees can register a company in the Philippines, subject to the same requirements and restrictions as other individuals.
Can I register a company if I am a foreign corporation?
Yes, foreign corporations can register a branch office, representative office, or wholly-owned subsidiary in the Philippines, subject to specific requirements and restrictions.
Can I register a company if I have a business partner who is a foreigner?
Yes, you can register a company with a foreign business partner, subject to compliance with applicable laws and regulations.
Do I need to register my company’s trademarks and intellectual property?
Registering trademarks and intellectual property is not mandatory, but it is advisable to protect your company’s assets and prevent infringement.
Can I register a company if I have previous business failures or bankruptcies?
Previous business failures or bankruptcies do not necessarily prevent you from registering a new company. However, it is important to learn from past experiences and take necessary measures for future success.
Can I register a company if I have no business experience or background?
Yes, having no prior business experience or background does not disqualify you from registering a company. However, it is advisable to seek guidance and acquire the necessary knowledge to run a successful business.
Can I register a company if I am a professional, such as a doctor or lawyer?
Yes, professionals such as doctors or lawyers can register a company, subject to compliance with specific regulations and requirements of their respective professions.
Can I register a company if I have a unique business idea or concept?
Yes, unique business ideas or concepts can be registered as long as they comply with legal requirements and industry-specific regulations.
“Our team can provide assistance if you need help registering a company in the Philippines”
Major Banks in the Philippines
Banco de Oro (BDO): BDO is the largest bank in the Philippines in terms of total assets. It offers a wide range of banking services, including commercial banking, investment banking, and asset management.
Metropolitan Bank & Trust Company (Metrobank): Metrobank is one of the largest and oldest banks in the Philippines. It provides a comprehensive range of financial services, including corporate banking, retail banking, and treasury services.
Bank of the Philippine Islands (BPI): BPI is one of the oldest banks in the Philippines and offers various banking products and services, including deposit accounts, loans, investments, and insurance.
Land Bank of the Philippines (Landbank): Landbank is a government-owned bank that focuses on providing financial services to farmers, fishermen, and other priority sectors. It also offers commercial banking services to a broader customer base.
Philippine National Bank (PNB): PNB is one of the largest private universal banks in the Philippines. It provides a wide range of banking services, including corporate banking, retail banking, and treasury services.
Security Bank Corporation: Security Bank is a universal bank that offers commercial, retail, and corporate banking services. It caters to both individual customers and businesses.
Union Bank of the Philippines (UnionBank): UnionBank is a universal bank that provides a range of financial services, including commercial banking, retail banking, and corporate banking. It has also been at the forefront of embracing digital banking innovations.
Development Bank of the Philippines (DBP): DBP is a government-owned bank focused on financing infrastructure and development projects in the Philippines. It provides funding and support to various sectors, including agriculture, industry, and social services.
China Banking Corporation (China Bank): China Bank is one of the leading commercial banks in the Philippines, offering a wide range of banking and financial services to both individual and corporate customers.
Rizal Commercial Banking Corporation (RCBC): RCBC is a universal bank that provides a range of banking services, including retail banking, corporate banking, and investment banking.
The top universities in the Philippines
University of the Philippines Diliman
QS Ranking: 396
Website: http://www.upd.edu.ph/
Location: Quezon City, Metro Manila
Major Courses: Social Sciences, Engineering, Natural Sciences, Humanities
Ateneo de Manila University
QS Ranking: 601-650
Website: http://www.ateneo.edu/
Location: Quezon City, Metro Manila
Major Courses: Business, Communication, Social Sciences, Humanities
De La Salle University
QS Ranking: 801-1000
Website: http://www.dlsu.edu.ph/
Location: Manila
Major Courses: Business, Engineering, Computer Science, Social Sciences
University of Santo Tomas
QS Ranking: 801-1000
Website: http://www.ust.edu.ph/
Location: Manila
Major Courses: Medicine, Engineering, Business, Arts and Letters
University of the Philippines Manila
QS Ranking: 801-1000
Website: http://www.upm.edu.ph/
Location: Manila
Major Courses: Medicine, Nursing, Dentistry, Allied Health Sciences
University of San Carlos
QS Ranking: 801-1000
Website: http://www.usc.edu.ph/
Location: Cebu City, Cebu
Major Courses: Engineering, Architecture, Business, Education
Silliman University
QS Ranking: 1001+
Website: http://www.su.edu.ph/
Location: Dumaguete City, Negros Oriental
Major Courses: Business, Nursing, Engineering, Arts and Sciences
Mapua University
QS Ranking: 1001+
Website: http://www.mapua.edu.ph/
Location: Manila and Makati
Major Courses: Engineering, Architecture, Information Technology, Business
Xavier University – Ateneo de Cagayan
QS Ranking: 1001+
Website: http://www.xu.edu.ph/
Location: Cagayan de Oro City, Misamis Oriental
Major Courses: Agriculture, Engineering, Business, Education
University of the East
QS Ranking: 1001+
Website: http://www.ue.edu.ph/
Location: Manila
Major Courses: Business, Engineering, Dentistry, Arts and Sciences
“If you need assistance registering for college or university, our team is here to help.”
Strange or unusual to visitors in the Philippines
Traffic and Driving: Traffic conditions in major cities like Manila can be chaotic and congested, which may be overwhelming for visitors who are used to more organized traffic systems. Additionally, local driving habits, such as honking frequently and squeezing into tight spaces, may seem unusual to some.
Jeepneys: Jeepneys are unique modes of transportation in the Philippines. These brightly decorated, elongated jeeps serve as public buses, and their vibrant colors and crowded seating arrangements may be unfamiliar to visitors.
“Mano po”: It is a common Filipino gesture of respect where younger people take the hand of an older person and touch it to their forehead. This gesture is performed to show respect to elders or as a way of greeting.
Street Food Culture: The Philippines is known for its street food culture, where various local delicacies are sold on the streets. Some visitors may find it strange to see food being prepared and consumed in open-air stalls or carts.
“Tampo”: Tampo is a Filipino term that refers to the act of sulking or withdrawing affection when someone feels hurt or slighted. It is a cultural behavior that may seem unusual or confusing to visitors who are not familiar with this practice.
Strong Family Ties: Filipinos have strong family ties and often live in multi-generational households. Visitors may find it unusual to see extended families living together or the close bond and involvement of family members in each other’s lives.
Eating with Hands: In some traditional Filipino settings, it is common to eat with your hands, especially when consuming certain dishes like grilled meat or seafood. While this practice is not widespread in urban areas, it may still be encountered in more rural or cultural settings.
Karaoke Culture: Filipinos have a deep love for karaoke and singing. It is not uncommon to find karaoke machines in homes, restaurants, and even public spaces. Visitors may find it unusual to witness impromptu karaoke sessions or the enthusiasm with which Filipinos embrace this form of entertainment.
“Filipino Time”: “Filipino Time” refers to the cultural tendency to be more relaxed about punctuality. Meetings and gatherings may start later than the scheduled time, and there is often a more flexible approach to deadlines. This concept may be strange to visitors who are accustomed to strict adherence to schedules.
Love for Basketball: Basketball is a hugely popular sport in the Philippines, and the passion for the game is evident in the streets and local communities. Visitors may find it unusual to see basketball courts in unexpected places and the level of enthusiasm Filipinos have for the sport.
“Tips for Newcomers: Adjusting to Life in the Philippines”
Embrace the Filipino Culture: Immerse yourself in the local culture, customs, and traditions. Learn a few basic phrases in Filipino (Tagalog) or the local dialect spoken in your area. Respect and understanding of the culture will help you connect with the locals and make your transition smoother.
Be Patient and Flexible: The pace of life and certain processes in the Philippines may be different from what you’re accustomed to. Patience and flexibility are key attributes that will help you adapt to any challenges or delays you may encounter.
Build Relationships: Filipinos are known for their warm hospitality and friendliness. Take the initiative to meet new people, both expats and locals, through community events, social clubs, or work-related activities. Building relationships will provide you with support, insights, and a sense of belonging.
Learn the Transportation System: Familiarize yourself with the local transportation options available in your area, such as jeepneys, tricycles, buses, and trains. Understanding how to navigate the transportation system will make it easier for you to get around and explore different places.
Explore Local Cuisine: Filipino cuisine is diverse and delicious. Don’t hesitate to try local dishes and street food. From adobo to halo-halo, the Philippines offers a wide variety of unique flavors. Exploring the local cuisine will not only be a culinary adventure but also a way to connect with the culture.
Be Mindful of Safety: Like any other country, it’s important to be aware of your surroundings and take necessary precautions to ensure your safety. Familiarize yourself with local laws, be cautious of your belongings, and seek advice from locals regarding safe areas and potential risks.
Understand the Weather: The Philippines has a tropical climate with distinct wet and dry seasons. Prepare for the weather conditions by dressing appropriately, staying hydrated, and being mindful of typhoon warnings during the rainy season.
Seek Assistance and Support: If you’re facing challenges or have questions, don’t hesitate to seek assistance. There are expat groups, online forums, and local organizations that can provide guidance and support as you navigate your new life in the Philippines.
Explore the Country: The Philippines is known for its stunning beaches, vibrant festivals, and natural wonders. Take advantage of your time in the country to explore its beauty and diverse landscapes. Plan trips to popular destinations like Palawan, Boracay, or Cebu, as well as lesser-known gems.
Keep an Open Mind: Embrace the cultural differences, adapt to new experiences, and keep an open mind. The Philippines offers a rich tapestry of experiences and opportunities, and being open to new adventures will enhance your time in the country.
Top recruitment agencies in the Philippines
- IKON Solutions Asia Inc. – https://www.ikonlink.com/
- J-K Network Services – https://jknetwork-jobs.com/
- Magsaysay Global Services, Inc. – https://www.magsaysaycareers.com/
- Staffhouse International Resources – https://www.staffhouse.com/
- SGS Human Resources Corporation – http://www.sgshumanresources.com/
- LBS Recruitment Solutions Corporation – https://www.lbsrecruitment.com.ph/
- PRIME Manpower Resources Development, Inc. – http://primemanpower.com/
- YWA Human Resource Corporation – http://www.ywacorp.com/
- Career Planners Specialists International, Inc. – http://www.cpsiphilippines.com/
- Global Resource for Outsourced Workers (GROW) Inc. – http://www.growinc.net/
Necessary phone numbers in the Philippines
The best way to immigrate to the Philippines
Retiree Visa (Special Resident Retiree’s Visa or SRRV): If you are at least 35 years old and have a pension or retirement income, you can apply for an SRRV. This visa allows foreign retirees to live in the Philippines and enjoy certain benefits, such as tax privileges and multiple-entry privileges.
Employment Visa: If you have a job offer from a Philippine company, you can apply for an employment visa. The company will typically sponsor your application and assist with the necessary paperwork and documentation.
Business Visa: If you plan to invest or start a business in the Philippines, you can apply for a business visa. This option requires fulfilling certain financial and investment requirements, and you will need to register your business with the appropriate government agencies.
Marriage to a Filipino Citizen: If you are married to a Filipino citizen, you can apply for a 13(a) Resident Visa. This visa allows you to live in the Philippines as the spouse of a Filipino citizen.
Long-Term Visitor Visa Extension: If you want to stay in the Philippines for an extended period without a specific purpose, you can apply for a Long-Term Visitor Visa Extension (9(a) visa). This visa allows you to stay in the country for up to 36 months.
