Philippine Company Formation and Business Registration
Business Registration in Philippines
With over 30 years of experience as the finest
Serviced Office &
Virtual Office operator, the Servcorp team is able to assist your company formation and business registration in Manila. Our One-Stop-Shop Service not only offers you the
Best Address in Makati City at Ayala Tower One, Ayala for your company, we are also able to assist you in your company formation locally, efficiently & cost effectively so that you can focus on your business & develop your market in Manila.
When starting a business in the Philippines, there are a few government agencies you must register with to avoid any legal problems once business operations begin.
Steps to register a business in Manila:
1. Secure Business Name with Securities and Exchange Commission (SEC)The first step is to register your preferred business name with the SEC. Once the AOI and by-laws are drafted, you can open a corporate bank account with your preferred bank.
2. Open Corporate Bank AccountCompanies applying for incorporation must open a TITF account which will serve as the temporary depository account of the required paid-up capital (which is 25% of the subscribed capital) of the corporation. The bank will issue a certificate of deposit which is a required document to be submitted to the SEC.
3. SEC RegistrationOnce a bank certificate of deposit is issued, registration may be submitted to the SEC. SEC registration takes 10 to 15 working days upon submission of complete documentary requirements.
4. Bureau of Internal Revenue (BIR)After SEC registration, a company must obtain a taxpayer identification number (TIN), register its books of accounts and apply for authority to print official receipts.
5. Social Security System (SSS) RegistrationAll companies must be registered with the SSS and must secure an employer number which will be used as reference for the remittance of monthly contributions.
6. Phil-Health RegistrationPhil-Health is the Philippine Health Insurance Corporation. All employers are required to register their employees as Phil-Health manages and administers the government health care system.
7. Pag-Ibig RegistrationPag-IBIG Fund provides various types of loans and is mandatory for all employees covered by the Social Security System (SSS).
8. Mayor's or Business Permit At just PHP35,000 Servcorp can assist with your:
- BIR Registration
- Phil Health Registration
- SSS Registration
- Mayor’s or Business Permit
Incorporation Time
Manila Company Formation incorporation time is approximately four to six weeks once we receive the relevant documents from you.
Share Capital
The minimum subscribed is 25% of authorized shares while the minimum paid up is 25% of subscribed capital
Banking, Currency and Exchange Control
The Philippine Peso is pegged to the US$ at PHP43.5 : US$1.Bank account opening is straightforward if properly handled and if the relevant documentations are provided.
