There are many different government tax incentive programs in the Philippines to help encourage businesses to locate within the country. Some smaller local government units, have also established economic zones to offer great tax breaks and non-fiscal incentives to bring investment to their region. One such location is in Misamis Oriental.

If wanting locate your business in Misamis Oriental, Triple i Consulting can help streamline your registration process.

The PHIVIDEC Industrial Authority (PIA), is a government-owned and controlled corporation, was established through Presidential Decree. It was mandated by its Charter to manage and supervise the 3,000-hectare Phividec Industrial Estate in Misamis Oriental.

Contact Us for more details about setting up your business in PHIVIDEC.

Qualification

Both foreign and local investors with export and/or domestic market located in Misamis can apply for registration and avail of incentives.

Incentives

• Exemption from tariff, customs, duties and internal revenue taxes for raw materials, supplies, articles, equipment, machinery, spare parts and wares brought into the estate and utilized in the production, storing , packing and shipment of goods meant for the foreign market.

• Exemption from local taxes and licenses, except Real Property Taxes.

• Continue to avail of BOI’s privileges if Industry is BOI- registered.

• Exemption from wharf dues if pier is constructed by investors.

• Employment of foreign nationals on technical and management levels.

• Avail of the lowest land lease rates in the country.

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Requirements

i Letter of Intent

ii Duly Accomplished Application Form

iii Feasibility or Project Study /Business Proposal

iv Company Profile

v Development Plan & Proposed Activities for two(2) years period

vi Process Description and Process Flow

vii Certificate of Registration of Business Name with DTI

viii SEC Registration & Articles of Incorporation

ix Income Tax Returns for the last 3 yrs (if applicable)

x Audited Financial Statement for the last 3 yrs (if applicable

xi List of Directors & Principal Stockholders with Bio-data

xii Duly Accomplished Deed of Undertaking

xiii Duly Accomplished Anti-Graft Certificate

xiv Secretary's Certificate / Board Resolution authorizing the filing of application and designation of representatives(s)

xv OtherPermits/Clearances required from government agencies

Procedure

i Discussion of plans with PIA Authorities (Business Development Division, or Policy Planning and Business Development Division, and/or Corporate Planning and Business Development Department)

ii Submission of Letter of Intent with Project Brief

iii Submission of Application Form together with the requested documents

iv PIA Evaluation

v Submission of Application for PIA Board Approval

vi Issuance of Board Resolution

vii Signing of registration agreement and lease contract

viii Issuance of Certificates

ix Completion of Other Requirements

x Start of commercial operation

Complete Registration time can be 4-6 weeks.