Comments on: Philippines Business Registration

By: jm

jm — Sat, 28 Jan 2012 04:37:54 +0000

Can a corporation be an incorporator?

JM, a corporation can not be an incorporator. The directors and Incorporators can be the same persons.

By: James McCulloch

James McCulloch — Thu, 12 Jan 2012 06:13:15 +0000

Hi, I am a foreigner and planing to get married soon. I would like to start a Jeepney business with 4 units can I have a single proprietorship without having $200,000? If not can I own the Jeepneys in my name and have my wife open the business?

James, foreigners may own up to 40% of a transportation business in the Philippines. Therefore, you must setup a corporation and not a sole proprietorship.

By: Dee

Dee — Tue, 10 Jan 2012 08:59:09 +0000

i understand that a recruitment company may be only 25% foreign owned, is it also allowed to give that 25% to a foreign company instead of just 1 person? thanks

Dee, Foreign owned can be either a person or a company.

By: min

min — Mon, 19 Dec 2011 11:05:01 +0000

how much capital is needed to put up a foundation here in the Philippines?

The minimum paid-in capital for a foundation is PHP1,000,000.00.

By: Francis pei

Francis pei — Mon, 28 Nov 2011 14:00:15 +0000

im chinese, i want to set up a business in RP. i’d like to register a trading co., cosmetic additive is the goods we will trade. if sole proprietorship, im the owner, must the paid up capital be at least usd 200k?

Many thanks!

Francis, correct a foreign owned sole proprietorship must have a minimum of USD200k as paid-in capital.

By: Frank

Frank — Mon, 28 Nov 2011 03:36:01 +0000

we are planning to put upa scholarship foundation with friends, schoolmates and relatives. how much is the paid up capital? tnx

Frank, a foundation requires a paid-up capital of PHP1,000,000.00.

By: Eyz

Eyz — Mon, 14 Nov 2011 03:15:43 +0000

Hi, I would like to set up a sole proprietorship company in the country. It’s a consulting firm for a foreign company. Mostly tech support. Do you know what requirements I need to register the company? No other employees, just me. Do I need to get another TIN No. for the company? I am just confused with the whole set-up because the income of the company will most likely be my personal income.

Thanks

Eyz, it is easy to register a sole proprietorship with the DTI. You do not need to obtain another TIN number. You will have to file reports with the BIR monthly, quarterly and yearly.

By: Brad

Brad — Thu, 03 Nov 2011 15:46:16 +0000

Can a IT Consultant foreigner with a TIN and ACR open a sole prop for a business savings account? No employees, just me as consultant. What would be the required paid in capital?

Brad, any business which the law allows 100% foreign ownership and caters to the Philippines domestic market must have a paid-in capital os USD200,000.00.

It would not cater to domestic market, per se, but it for VOIP, to collect long distance charges. But only just to collect payments locally the company that is based somewhere else. Can this be a sole prop owned by a foreigner. How could I structure this?

By: elrich

elrich — Wed, 02 Nov 2011 07:00:13 +0000

Hi i would like to know what will be our category? and paid in capital? requirements for our “Social Media Management” firm a service business dealing on internet marketing/events and events, this a new innovative start-up business.

Thanks

Elrich, your business falls under services. The paid-in capital depends on your business plan.

By: Brad

Brad — Wed, 26 Oct 2011 16:44:08 +0000

Can a IT Consultant foreigner with a TIN and ACR open a sole prop for a business savings account? No employees, just me as consultant. What would be the required paid in capital?

Brad, any business which the law allows 100% foreign ownership and caters to the Philippines domestic market must have a paid-in capital os USD200,000.00.