Understand the Jurisdictions Setup Requirement Before Proceed Your Company Registration in Philippines
The Philippines has a rich culture, a splendid climate and the most important of all, a lot of business opportunities. Therefore, many foreign investors are expanding their wings to the Philippines and you might be interested in investing here. After you have decided to expand your business overseas, all of your moves need to be carefully taken as any wrong step can incur huge losses. Hence, it is helpful to seek professional help for company registration in the Philippines.
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We at 3E Accounting assist you in all the steps of business incorporation. This includes preparing documents, selecting the right business entity and also helping with opening a local bank account. In addition, our complete team consists of experts for accounting, taxes and all are well versed with the government rules and policies for registration of a company in the Philippines.
Different Corporate Entities in the Philippines
The Philippines offers many business opportunities to the investors along with a wonderful climate and rich culture, hence you must consider company registration in the Philippines by making a wonderful business plan.
The different corporate entities which can be established in the Philippines are:
Sole Proprietorship
This is the simplest entity which can be established in the Philippines. Then, there is one owner of the business who is solely responsible for his liabilities and can enjoy 100% profit after paying his income tax.
Partnership
Two or more people are the owner and responsible for the company’s liabilities. To enter into a partnership entity, the partners must come under a single agreement about their liabilities, profits, and responsibilities.
Corporation
A corporation is an entity which requires a minimum capital investment amount which must be deposited in a local corporate bank of Philippines. There must be at least 5 shareholders. Every shareholder is liable for his or her investment made for setting up a company.
Representative Office
The representative office is a good way to explore the market of the Philippines. You cannot carry any profit-making commercial activities through a representative office but it is a good way to test the market’s favorability for your business niche.
Branch office
The parent company decides to set up the branch office and conduct commercial activities. The parent company is completely liable for the branch office.
Companies can set up a local branch or representative office in the Philippines but they need to meet the annual turnover and capital investment requirement which has been set by this country’s government.
Get in Touch With Us
We at 3E Accounting help you in company registration in the Philippines. Use our reliable services and we will help you in selecting the right business entity which has been listed above. Contact us to enquire about our services and also to clear any of you requires regarding company registration in the Philippines. We will be glad to assist you.
