Foreign investors interested in starting a business in the Philippines are required to comply with various requirements. Among these, depositing a specific amount as a share capital, having a legal address for the business and certain company management requirements.
Among the most important requisites covered by the Corporate Law are those related to the appointment of Philippines company directors and their duties.
Our Philippines company formation consultants explain the duties and rights of company directors. They can also assist with the registration of a business in the Philippines.
Those who want to open a company in the Philippines must take into account the following requirements when appointing company directors:
It is also important to know that in the case of foreign investors setting up businesses in this country, the majority of thedirectors must be Filipino residents.
The names of the directors must appear in the Securities and Exchange Commission’s records. These will be registered upon company formation in the Philippines.
If a company director wishes to move to the Philippines, he will need to check if this is possible, based on nationality. The Philippines have signed immigration reciprocity agreements with several countries, among which many European ones, and being from one of the signatory states is a mandatory condition to relocate. Our team can give you more details about the immigration laws.
The directors of a company in the Philippines must be organized as a Board of Directors who will have the following responsibilities:
The Board of Directors will respond directly to the Philippine company’s directors.
For more information on the requirements imposed on foreign investors interested in opening companies here, please contact our company registration agents in the Philippines.
For other matters concerning companies in the Philippines, such as bookkeeping and other tax solutions, you can reach out to our team. Our partner accountants in Philippines offer not only bookkeeping services, but also those related to tax preparation, tax planning, consulting, and other solutions for businesses of all sizes. Reach out to us for more details.