How to Register a Fintech Startup in the Philippines

October 9, 2025

The fintech sector in the Philippines has emerged as a cornerstone of economic transformation, driving financial inclusion for millions through digital payments, peer-to-peer lending, and blockchain-based remittances. As of October 2025, the industry boasts over 300 active players, contributing more than 2 percent to the nation’s gross domestic product and serving as a lifeline for unbanked populations in remote provinces. Yet, amid this growth, aspiring entrepreneurs face a labyrinth of regulations designed to safeguard consumers, prevent money laundering, and ensure systemic stability. The Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) serve as the primary gatekeepers, enforcing rules under the National Payment Systems Act (RA 11127) and various circulars that govern the issuance of electronic money and virtual asset services.

Registering a fintech startup in the Philippines requires meticulous planning, from selecting a corporate structure that complies with foreign ownership caps to obtaining specialized licenses, which can take months to secure. This guide outlines the fintech registration process in the Philippines, providing clarity on how to register fintech ventures in the Philippines while incorporating essential fintech licensing requirements. Whether launching a digital wallet or a lending platform, founders must prioritize the fintech regulatory landscape in the Philippines to avoid penalties that could derail operations. With the BSP’s recent lifting of moratoriums on new electronic money issuers and digital banks, opportunities abound for innovative fintech businesses in the Philippines. This article outlines the steps to register a fintech company in the Philippines, highlighting the essential elements of fintech incorporation in the Philippines and the requirements for a Philippine fintech license, to empower startups in this dynamic market.

The Regulatory Landscape Shaping Fintech Startups in the Philippines

The Philippines’ fintech ecosystem operates under a robust regulatory framework that balances innovation with consumer protection, overseen primarily by the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC). Compliance with these regulations is essential for any fintech startup in the Philippines aiming to operate legally and sustainably. Below are key aspects of the regulatory environment:

BSP Oversight: The BSP, under its 1949 charter and laws such as the General Banking Law of 2000, regulates payment systems, digital banks, and electronic money issuers through circulars, including No. 1049 (operators of payment systems) and No. 1105 (digital banks). Entities handling peso-denominated transactions, like e-wallets or payment gateways, must register with the BSP.
SEC Jurisdiction: The SEC governs investment-related fintechs, including crowdfunding and online lending platforms, under Republic Act No. 9474, enforcing disclosure and registration requirements to protect investors.
Additional Agencies: The Department of Information and Communications Technology (DICT) enforces cybersecurity under the Data Privacy Act of 2012, while the Anti-Money Laundering Council (AMLC) mandates customer due diligence and transaction reporting to prevent illicit finance.
Recent Developments: The BSP’s 2024 circular on merchant payment acceptance mandates interoperability through the National QR Code Standard, affecting startups from the outset. The Fintech Innovation Office offers regulatory sandboxes, allowing 12-month testing with provisional waivers.
Consequences of Non-Compliance: Fines up to PHP 1 million or operational shutdowns await non-compliant firms, as seen in 2024 actions against unlicensed virtual asset providers. Budget PHP 50,000–200,000 for professional fees to navigate submissions.

This framework supports the sector’s 25 percent annual growth, positioning the Philippines as Southeast Asia’s third-largest fintech hub. Founders must assess their model—whether it involves payments, lending, or blockchain—to determine applicable approvals, with timelines ranging from two weeks for SEC filings to six months for BSP licenses.

Choosing the Optimal Business Structure for Your Fintech Venture

Selecting the proper business structure is an essential step in the fintech company registration process, as it impacts liability, taxation, and scalability. The choice must align with the fintech law in the Philippines’ requirements and business goals. Here are the primary considerations:

Domestic Corporation: Preferred under the Revised Corporation Code of 2019 for limited liability and perpetual existence. Requires five resident incorporators and a minimum capital of PHP 5,000, although digital banks require PHP 1 billion.
Foreign Ownership Rules: The Foreign Investments Act permits 100 percent foreign ownership for export-oriented fintechs; however, payment and lending services are capped at 40 percent foreign stakes, necessitating local partnerships.
Other Structures: Partnerships expose owners to unlimited liability, unsuitable for high-risk fintechs. Sole proprietorships are ineligible for BSP licenses and risk personal assets.
Tax and Funding Benefits: Corporations face a 20-25 percent corporate income tax, compared to 30 percent for proprietorships, with VAT exemptions for digital services under the TRAIN Law. Corporations also facilitate equity raises, which are critical for fintech startup funding in the Philippines (averaging PHP 100 million in 2024).
Documentation Needs: Draft articles of incorporation specifying fintech activities (e.g., “digital payment solutions”) and bylaws for governance. Engage a lawyer to ensure compliance with BSP and SEC standards.

SEC filing via the eSPARC portal can take days, with fees ranging from PHP 2,000 to PHP 1 million for capital of up to PHP 1 million. A mismatched structure risks license rejections, delaying launches by months. In 2024, 70 percent of fintech incorporations were corporations, reflecting their dominance.

Mastering SEC Incorporation: The First Milestone in Fintech Registration

SEC incorporation formalizes a fintech startup as a legal entity, a prerequisite for BSP licenses and bank accounts. The process, streamlined via the 2025 eSPARC portal, requires precision to avoid delays. Key steps include:

eSECURE Account Setup: Each incorporator creates an account, verified with government IDs, and pays a PHP 100 fee.
Document Submission: File articles of incorporation, treasurer’s affidavit, and bank certificate proving paid-up capital. Include a name verification slip, avoiding generic terms like “fintech” to ensure approval.
Endorsements and Fees: Secure Department of Trade and Industry endorsements for sole names. Fees range from PHP 2,000 for a PHP 1 million capital, plus 1/5 of 1 percent on excess.
Post-Incorporation: Obtain a BIR tax identification number (TIN) using Form 1903 within 10 days. Secure barangay clearance, mayor’s permit (PHP 500–5,000), and register with SSS, PhilHealth, and Pag-IBIG for employee benefits.
Common Pitfalls: Inaccurate documents led to a 15 percent rejection rate in Q1 2025. Triple i Consulting streamlines submissions as a trusted provider, ensuring approvals within days.

This step takes 1-3 days for SEC approval, enabling bank account openings and further registrations. Accurate filings prevent weeks of delays, positioning startups for swift market entry.

Acquiring BSP Licenses: Core to Fintech Operations in the Philippines

BSP licenses are required for fintechs that handle financial transactions, ranging from e-wallets to digital banks. The process varies by service, with stringent capital and compliance requirements in place. Key steps include:

Electronic Money Issuer (EMI) License: For e-wallets, requires PHP 50 million capital, feasibility studies, AML policies, and director fit-and-proper tests. Filed via BSP’s online portal, with 3-6 month timelines.
Operator of Payment Systems (OPS): Payment processors register under Circular No. 1049, submitting self-assessments for a provisional certificate within three days, followed by a PHP 20,000 fee.
Digital Bank License: Requires PHP 1 billion in capital and end-to-end digital delivery, as per Circular No. 1105. Involves site visits, public consultations, and shareholder vetting over 3-6 months.
Virtual Asset Service Providers (VASPs): Face a moratorium until September 2025, but expansions are allowed for existing entities. Sandbox testing under Circular No. 1153 offers waivers for pilots.
Interoperability Mandates: Adopt National QR Code Standards for Seamless Payments, a Requirement from Day One.

Non-compliance risks daily fines of PHP 500,000, but licensed fintechs report valuations 40 percent higher. The BSP sandbox boosts success rates to 60 percent, as seen with GCash’s journey to full licensing.

Tackling Compliance Layers: From Data Privacy to Local Permits

Beyond core registrations, fintech compliance in the Philippines spans multiple agencies, demanding meticulous coordination. Key requirements include:

Data Privacy Compliance: Register as a data controller with the National Privacy Commission under the Data Privacy Act of 2012. Submit privacy manuals and consent forms to avoid PHP 5 million fines, as seen in 2024 breaches.
Tax Obligations: File quarterly VAT at 12 percent with BIR, leveraging TRAIN Law exemptions. The Ease of Paying Taxes Act reduces the burden of paying taxes.
Local Permits: Secure fire safety and sanitary permits from local government units, with costs varying by municipality. SSS contributions at 14 percent ensure employee benefits.
Emerging Rules: The 2025 National AI Strategy mandates updates to AI governance, adding complexity to the field. Inter-agency overlaps—SEC for securities, BSP for payments—delay 30 percent of startups.

This intricate web risks costly oversights, making expert guidance critical. Triple i Consulting, a trusted provider, navigates these layers, aligning AML, privacy, and local permits to accelerate compliance. Their expertise simplifies the fintech registration process, freeing founders to focus on innovation.

Sustaining Momentum: Post-Registration Strategies for Fintech Success

Post-registration, fintechs must maintain compliance and drive growth to thrive. Strategic steps include:

Risk Management: Implement board-approved frameworks in accordance with BSP Circular No. 1160, conducting annual AML audits, and reporting suspicious transactions to the AMLC within 24 hours.
Partnerships: Collaborate with banks for liquidity under the 2024 open banking framework. Monitor transaction volumes to adjust capital, with EMIs maintaining PHP 25 million buffers.
Innovation and Community: Use BSP sandboxes for pilots, then scale deployments. Financial literacy drives enhance reputation amid 2025’s focus on consumer protection.
Cybersecurity Investments: With a 20 percent rise in cyber threats in 2024, pursue ISO 27001 certifications. Annual renewals cost PHP 10,000 to PHP 50,000.

Compliant fintechs experience 50 percent lower churn rates, with successes like Maya highlighting proactive governance as a key factor in longevity in the Philippine fintech landscape.

Final Thoughts

Registering a fintech startup in the Philippines weaves a tapestry of opportunity and obligation, from SEC foundations to BSP safeguards, culminating in a compliant powerhouse ready to reshape finance. As the sector aims for PHP 1 trillion in transactions by 2030, adherence to the outlined steps—structural choices, incorporations, licenses, and ongoing vigilance—positions ventures for lasting impact. The regulatory evolution, marked by sandbox flexibilities and the lifting of moratoriums, signals a maturing ecosystem that is supportive of bold ideas. Founders who master this fintech registration guide in the Philippines will not only launch but also thrive, contributing to a digitally empowered archipelago.

Is Assistance Available?

Absolutely! Triple i Consulting provides expert support to streamline the fintech business permit requirements in the Philippines. Our seasoned team ensures every step aligns with Philippine digital finance regulation, turning complexity into clarity for your startup’s success. Contact us today to schedule an initial consultation with one of our experts: