A foreign company can open a SPV company in Philippine which will be used for certain specific financing actions or business operations. The Special Purpose Vehicle (SPV) is structured as a separate legal entity from its founding parent company and, as such, the parent company may used it for securitization or risk management.
Our agents specializing in company formation in Philippines assist investors that wish to open a special purpose vehicle in this jurisdiction. We provide ongoing assistance throughout all the company formation phases and can also offer representation, when the founders cannot be present in the Philippines for the entire duration of the incorporation.
Once the process to open a SPV company in Philippine is complete, this separate legal entity will be able to hold its own assets and will be subject to liability separately from the foreign company that creates it. In most cases, the special purpose vehicle is set up as a limited liability company, however, our Philippines company formation specialists can offer expert advice on the most suitable business form, according to the uses of the SPV.
The special purpose vehicle can be used to isolate assets and shelter the parent company in the event of certain business or financial investments, should a particular business venture fail. Because it is a separate, limited liability company, the SPV has legal capacity, enters into its own agreements, and maintains its own accounting records, separate from those of the parent company.
For an organization that will open a special purpose vehicle in the form of a limited liability company, the following steps are needed to open a company in Philippines:
Provided that investors have followed all the steps to open a SPV company in Philippines and the legal entity is duly registered, it will need to comply with the ongoing tax and filing requirements in the country, and the annual accounting submissions.
Our team briefly presents some of the most important taxes and requirements for companies:
An accountant in Philippines from our team will be able to give you more in-depth information about the tax filing process and the applicable requirements.
Our team also offers other types of services, such as those suitable for investors who wish to immigrate to Philippines. If you want to set up a special purpose vehicle here and relocate for business purposes, we can answer your questions.
Contact us if you need assistance to open a SPV company in Philippines.