In 2017, the Philippines was the 10th fastest growing economy in the world, which is a great result for such a small country in Southeast Asia. Moreover, the Philippines is also the 3rd fastest growing economy in the ASEAN community and one of the richest countries in terms of Gross Domestic Product (GDP) per capita in the region. These are just a few attributes of the country which attract foreign investors interested in starting a business in the Philippines.
Our local company formation specialists can offer more information on the reasons for opening a company in this country.
You can also watch our video on how to open a company in the Philippines:
Both foreign and local investors are allowed to open companies in the Philippines, however there are certain requirements a foreign citizen must comply with in order to create a business here. When it comes to the types of structures available for incorporation in the Philippines, the local legislation provides for the following:
The Philippine corporation can be categorized into a stock or non-stock corporation.
Foreign companies also have several options for creating a presence in the Philippines. These are the branch office, the representative office, and the regional operating headquarters.
Our company registration agents in the Philippines can offer more information on the types of companies to be set up here.
Foreign enterprises who want to set up companies in the Philippines must take into account that they will need a minimum share capital of 5,000 PS (Philippine pesos, which is the national currency in this country). Also, the minimum number of shareholders required for Philippines company formation is 5. Once the structure of the company is established, the future owners must create the Articles of Association of the company.
The following steps must be completed upon the Philippines company formation process:
If you want to open a company and need assistance, please feel free to contact our company formation consultants in the Philippines.
