Setting up a FOREIGN OWNED Domestic Corporation in the Philippines
First thing first, the most common company structure in the Philippines is a Domestic Corporation and there are 2 types of it. The first one is a Local Domestic Corporation where Filipinos owned over 60% of the company equity (stocks) and the other is Foreign Owned Domestic Corporation, where Non-Filipinos (Foreigners) owned more than 40% of the company equity (stocks).
Under the Foreign Investment Act, the minimum paid-up capital requirements for Foreign Owned Domestic Corporation is US$200,000 which the amount must be remitted into the Philippines. This requirement do not apply to export-oriented enterprise or those involve in advance technology and will employ at least 50 employees.
A Philippine corporation can be foreign-owned, as long as it is not listed in the Philippine Foreign Investment Negative List (FINL).
- Consist of at least 5 to 15 shareholders
- Passport copies of the foreign shareholders
- Minimum of USD200,00 capital injection
- Proof of inward Remittance by non-resident and/or foreign corporate subscribers
- Business is not listed in Negative List
- Treasurer Affidavit
- Notarized Articles of Incorporation and By-Laws
- Completed Form F-100
- Registered and Approved by SEC
- Comply to other local government requirements and statuary requirements
- Reserved your company name
- Draft Articles of Incorporation and company information with directors
- Present Articles of Incorporation to local bank for placement of minimum paid up capital
- Present Articles of Incorporation and Bank Certificate to SEC for registration
- Complete licensing with all necessary government agencies (Post Registration)
Forming a corporation is a long process, and StartNow can walk your organization through all these procedures. We will ensure that your organization gets registered and incorporated quickly, without any unnecessary complications.
BASIC GOVERNMENT COMPLIANCE & FILING SERVICES
Let us take care of all your Government Compliance matter and you can focus on your business.
REGISTERED OFFICE SERVICES
Use our office addresses with mail forwarding service in Bonifacio Global City,Taguig as the registered office address of your company.
APOSTILLE AND LEGALISATION SERVICES
We can certify and legalise your documents at Embassies and the Foreign Office.
TEMPORARY / INSTANT OFFICE
We can offer you or your team Instant Office space and Meeting Facilities when you need them.
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A fine example of excellent service. Their team not only helped with incorporation but also with local government filings.
StartNow have successfully guided our company through start-up phase in the Philippines and continues to provide valuable advice as we grow.
You have made our new business journey both rewarding and stress-free. It was an absolute pleasure doing business with a company that does business in such a professional manner.