The option to buy a shelf company in the Philippines is available to entrepreneurs who wish to purchase an already registered legal entity in this country. Our company formation specialists in the Philippines provide the needed legal assistance for those entrepreneurs (local and foreign) who need counsel in choosing a company for sale and/or assistance throughout the purchase process.
The Philippines company registration process can be complex, so shelf companies are created and put at the disposal of those interested in spending less time with the incorporation process.
Foreign investors who want to do business in the Philippines have several choices in terms of structures that can be used to set up their companies. From simple sole proprietorships to joint stock companies which are the equivalent of limited liability companies in other countries.
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Shelf companies for sale in the Philippines
The shelf company is a company that is already registered, however, it has no previous economic activity and can be purchased by those who want to start doing business in the Philippines right away.
Foreign enterprisers can choose the Filipino shelf companies they want to purchase based on several characteristics such as the age of the company – a shelf company can be newly incorporated, or it can be several years old. Shelf companies in the Philippines usually take the form of joint stock corporations and have bank accounts and VAT numbers.
Our Philippines company formation consultants can assist in choosing the right type of shelf company if you have decided to buy one.
If you want to buy a shelf company in the Philippines, we remind you that the following corporate taxes will apply:
- The minimum corporate income tax has a value of 2% of the gross income and it is imposed at the start of the fourth taxable year of the company’s operations; our accountant in the Philippines can give you more details.
- The standard corporate income tax rate is 25%;
- Companies with a taxable net income of no more than PHP 5 million benefit from a reduced rate of 20%;
How to buy a shelf company in the Philippines
Once decided that the shelf company is the best option, it is best to discuss with our Philippines company registration agents about your options. Then, our advisors will prepare the paperwork related to the purchase of the shelf company in Philippines. The document to be signed is the sale-purchase agreement.
The buyer must also pay attention to the next steps after the company has been purchased. These steps imply changing the name of the shareholders and directors, as well as amending the shelf company’s Articles of Association. All changes must be reported with the Trade Registrar in the Philippines.
You can also watch the video below for information on how to buy a shelf company in the Philippines:
Our solutions for investors who buy a shelf company in the Philippines
Found a shelf company in the Philippines but no idea how to get started with the purchase?
We’ve got you covered! We, at FilePino, a one-stop-shop business consulting firm, have helped hundreds of foreign nationals, foreign business entities, expats, and Filipinos purchase and acquire shelf companies and realize their business dreams without going through the hassles of incorporating a new entity.
While we do not directly offer or sell shelf companies, we do provide expert legal assistance with the documentary requirements and processes involved in the purchase and transfer of ownership. Our services for those who wish to buy a shelf company in the Philippines include:
- Company Selection Assistance: We help you identify the shelf company that best suits your business objectives, needs, and preferences. We take the initiative to conduct a thorough analysis of the company’s background and consider key factors that lay the foundation or potentially impact the future operations and credibility of the business. This is also an essential service for those interested in company formation in the Philippines.
- Self-Purchase Agreement: We can draft a self-purchase agreement for your purchase of a shelf company, detail the necessary terms and conditions, include representations and warranties, and ensure that the interests of the involved parties are protected in the fair, transparent, and legal transaction.
- Due Diligence: As part of our company selection service, we can also conduct a rigorous investigation to ensure that the shelf company is free from hidden liabilities and compliant with corporate laws and other regulations. We can verify its legal and financial standing by reviewing corporate records, financial statements, and other historical documents filed for compliance.
- Transfer of Ownership: We can assist you in the transition as the ownership is transferred by preparing and filing the necessary documents with the relevant government regulatory bodies for them to record the ownership change. This is an essential process when you buy a shelf company in the Philippines, and you can ensure a smooth transition and take over the company’s assets and operational responsibilities in due time.
- Shareholder and Director Updates: We can also file the necessary documentary requirements and amendments with the Securities and Exchange Commission (SEC) and other relevant government regulatory bodies to update the official records on shareholdings, directorships, management structure, and other changes.
- Regulatory Compliance: After filing the amendments on the ownership, we can ensure that your shelf company meets all local regulations by obtaining all required licenses and permits for legal operations, processing renewals, and conducting regular compliance checks. We can also help you with special licenses for tax benefits and other incentives.
- Legal Consultation: With our in-house team of corporate legal experts, we can help you understand in detail the legal requirements and implications of the transactions, from contract negotiations to compliance matters. We can assist you in addressing any questions or concerns that may arise during the purchase and in resolving all legal issues and disputes.
You can reach out to us if you have any questions about our services listed above or if you want to know more about the other solutions offered by our Philippines company formation specialists.
We are a dedicated team that can help you with many types of incorporation and legal services. In addition to the solutions listed above for the purpose of buying a ready-made company, we can also help you immigrate to the Philippines.
If you want to buy a shelf company in the Philippines, our local consultants can provide essential information on the selection of the company and the mandatory steps. You can also contact us if you are interested in starting a new business in the Philippines.