The Philippines is mainly known as a touristic destination, however there also reasons for which foreign citizens come here. One of these reasons is to invest in the Philippines. The small insular state’s economy is going through a serious restructuration which establishes a higher degree of confidence coming from foreign investors. Below we will explain a few reasons for investing in the Philippines at this moment.
Before that, we remind you that our company formation specialists in the Philippines can assist those who want to set up businesses here.
What are best Filipino industries to invest in at the moment?
According to several surveys carried out in the last few years, tourism still remain one of Philippines’ strongest industries. However, its development triggered an increase in the real estate sector. Both the residential and the commercial real estate markets have registered good economic results in the past 2 years. On one side there are the foreign citizens who find it easy to purchase vacation homes here, while on the other side there are the investors who buy commercial spaces used as company seats when opening companies in the Philippines.
One should not overlook the trading and the manufacturing industries which also generate a significant share of the country’s Gross Domestic Product.
Our Philippines company registration consultants can assist foreign investors seeking to open companies in any of the industries mentioned above.
What are the incentives granted to foreign investors coming to the Philippines?
There are two main laws which provide for foreign investments in the Philippines. These are the Omnibus Investment Code and the Special Economic Zone Law. Our Philippines company formation agents can explain these laws, as we will focus below on the advantages offered under them.
Foreign investors who want to set up companies in the Philippines can enjoy:
– tax breaks for a maximum period of 6 years;
– tax credits for manufacturing companies;
– tax deductions related to expenses on labor and infrastructure works.
Foreign companies operating in the Philippines through branch offices or subsidiaries can also repatriate profits earned here without any restrictions.
If you want to open a company in the Philippines and need assistance, do not hesitate to contact us.