In the Philippines, registering any kind of product with the Food and Drug Administration (FDA) can easily become a lengthy process. For example, a pharmaceutical company must anticipate a delay of at least 8 months to register a drug product. For medical devices, a minimum of 4 months should be anticipated. This is a crucial aspect of business that must be taken into consideration when foreign or local businessmen plan on investing in the Philippines and need specific licenses from the FDA to be able to operate legitimately.
As a reminder, the FDA requires any company dealing with food, cosmetic, food supplements, household hazardous, drugs or medical devices to obtain a specific License To Operate (LTO) that will qualify them as an importer/exporter and distributor/manufacturer in the Philippines. This LTO is required by the FDA when applying for Certificates of Product Registration (CPR) for each of the products to be registered and distributed. It can be expected that this licensing work will cause complications and even delays for a newly registered business as no activities/trade can be started before the acquisition of those licenses. To be able to secure these FDA requirements, a legal entity must exist in the Philippines. This means that the cost of operation to maintain a company, even though there is no activity, must be facilitated on a monthly basis.
To get around this issue and to reduce capital expenditures of operating an office during the registration period, Triple i Consulting offers a service called “CPR Housing”. Basically, Triple i Consulting will act as the nominee owners of the CPR on behalf of the client. The client will use Triple i Consulting’s License To Operate during the time of registration of the different products with the FDA. Using this service, the client will not be required to maintain a company for the time being. Only when all the products are registered will the client need to set up its own legal entity and then the CPR’s can be transferred.
Triple i consulting is headed by one of the most experienced FDA consultants in the country and as such we are able to provide our clients with the fastest and most efficient registration and approval process in the country for all FDA regulated products and regulatory approvals. Contact Triple i Consulting for more details.