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Startups in the Philippines: Seamless Company Formation

Let Triple i Consulting streamline your startup journey. From business registration to full operational setup, we provide the support your Startup Company in the Philippines needs to launch successfully.

Contact Us

+63 (02) 8540-9623
info@tripleiconsulting.com

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Business Registration
Metro Manila Head Office

Address: 12F Sagittarius Building,
111, H.V. Dela Costa Street Salcedo Village, Makati City 1227
Tel: +63 (02) 8540-9623
Email: info@tripleiconsulting.com

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We interface with the SEC and DTI to register your business

Effortless Company Setup for Startups in the Philippines

Starting a business in the Philippines can be exciting and challenging, especially for local entrepreneurs and foreign investors looking to create successful startups. Whether you’re a first-time business owner or a seasoned entrepreneur, Triple i Consulting is here to simplify the process of launching your startup in the Philippines. From business registration to accounting and HR services, we provide comprehensive support to ensure your venture thrives.

Why Startups in the Philippines Are Thriving

The Philippines continues to emerge as one of the top destinations for entrepreneurs seeking to set up a startup company in the Philippines. The country’s strong economic growth, rising middle class, and dynamic consumer market create a promising environment for small and medium enterprises (MSMEs). Furthermore, the government offers incentives, tax exemptions, and support for businesses aiming to contribute to the local economy. However, navigating the complexities of local laws, business registration, and regulatory requirements can be overwhelming. This is where Triple i Consulting provides the expertise you need to succeed.

Comprehensive Support For Your Startup

At Triple i Consulting, we understand the unique needs of startups in the Philippines. Our team of experienced consultants helps you manage every aspect of your new business venture, from company formation to post-incorporation support. Our services include:

  • Business Registration: Streamline the process of registering your startup with the Philippine government, ensuring compliance with all legal requirements. Whether you’re setting up a sole proprietorship, partnership, or corporation, we handle all necessary documentation, saving you time and effort.
  • HR & Payroll Services: Startups often struggle to set up efficient human resources systems. We offer assistance with recruitment, payroll, and employee benefits management, ensuring you can focus on growing your business while we handle the HR details.
  • Accounting & Tax Services: Managing finances is crucial for any business. We offer accounting, bookkeeping, and tax services that help keep your startup’s finances in check while ensuring compliance with Philippine tax regulations.
  • Legal & Regulatory Compliance: Our experts help ensure that your business complies with local laws, including licensing, permits, and regulations that govern the operation of startups in the Philippines.

Benefits of Starting a Business in the Philippines

The Philippines offers many benefits for entrepreneurs and foreign investors looking to establish startups. With a young, tech-savvy population, the country has seen a surge in successful startups, especially in sectors like technology, e-commerce, and finance. Establishing a startup company in the Philippines is increasingly attractive due to government initiatives such as the Start-Up Business Development Act, which provides financial incentives to qualifying businesses, making it an even more supportive environment for new ventures.

Start Your Business with Confidence

Launching a startup company in the Philippines doesn’t have to be a daunting task. With Triple i Consulting, you can confidently navigate the entire process—from securing business permits to building a strong operational foundation. We’ve worked with many successful startups in the Philippines, helping them grow from the ground up. Whether you’re setting up your first venture or expanding, we’ll ensure your startup company in the Philippines is built on a solid foundation for long-term success. Let us handle the complexities while you focus on innovation and growth.

Ready to Take the Next Step?

If you want to launch your startup company in the Philippines, Triple i Consulting is here to support you at every stage. Whether you’re a local entrepreneur or a foreign investor, our team is equipped to handle your unique business needs. Starting a startup company in the Philippines can be challenging, but with our expert guidance, you’ll be on the path to success. Contact us today to get started!

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Top 40 Questions on Registering A Business In The Philippines
What types of business entities can I register in the Philippines?
Individuals or groups can register as Sole Proprietorships (at least 2 individuals), Partnerships (General or Limited), Corporations (Stock or Non-stock), and One Person Corporations (OPC).
What are the pre-registration requirements for business registration?
These include a valid business name, Identification of the owners, stockholders, incorporators, or partners as the case may be proposed business address. This typically includes filing and submitting the AOI, By Laws, FIA, and the Certificate of Authentication to the appropriate government agencies.
What must I accomplish after business registration?
After registering, businesses must comply with local government permits, Bureau of Internal Revenue (BIR) registration, Social Security System (SSS), Philippine Health Insurance Corporation (PhilHealth), and Pag-IBIG Fund registrations for employers and employees, if any..
How long does the business registration process take?
The time frame varies depending on the business entity type and the completeness of the required documents, typically ranging from several weeks to months.
Can foreign enterprises register a business in the Philippines?
Yes, foreign enterprises can register a business in the Philippines, subject to certain restrictions and requirements. Please reference the latest Philippines’ Foreign Investment Negative List (FINL) for more information.
What kind of business entities can foreign enterprises set-up with the SEC?
Foreign entities can establish Representative Offices, Branch Offices, Regional Headquarters (RHQ), Regional Operating Headquarters (ROHQ), and wholly foreign-owned domestic corporations within the limits of the Foreign Investments Act.
What is the Foreign Investments Negative List (FINL)?
The FINL is a list that outlines the specific industries where foreign investment is restricted or limited. The current FINL is the 12th.
What industries are prohibited from foreign ownership in the Philippines?
These include mass media (except recording and internet business), small-scale mining, private security agencies, and the manufacture of firecrackers and pyrotechnic devices, among others.
Is there a minimum capital requirement for registering a business?
The minimum capital requirement varies depending on the type of business and whether it involves foreign ownership. Domestic enterprises may have no minimum requirements unless specified for regulated industries. There is no minimum capital for a domestic corporation who are composed of Filipinos, but there are for foreign investors under the FINL.
What are the fees for business registration?
Fees vary based on the registered entity type and the specific government agency. DTI registration for sole proprietorships starts at PHP 200, while SEC registration for corporations and partnerships has a higher cost structure based on authorized capital stock.
Can I register my business online?
Yes, businesses can be registered online for corporations and partnerships through the DTI or the SEC’s online systems.
Do online sellers, YouTubers, and bloggers need to register their businesses?
It depends. The DTI has made a clarification that not all online sellers are required to register, such as those selling intermittently or irregularly, as well as those selling homemade items as a hobby. Otherwise, they must register their business and comply with tax obligations mandated by the BIR.
Do I need to report income from international sources like Google Adsense?
Yes, income earned from sources like Google Adsense must be reported for tax purposes in the Philippines.
If a foreign company already taxes my income, do I still need to register in the Philippines?
Yes, even if income is taxed abroad, business registration in the Philippines is required, and tax obligations must be met as per local laws.
How can I use withheld tax from my income?
Withheld taxes can be used as tax credits against your tax liability when filing your income tax returns with the BIR.
Do I still need to register my business if I earn less than PHP 250,000 annually?
Yes, all businesses must register regardless of income, but incomes below PHP 250,000 annually are exempt from income tax.
What is the process for registering a business with the BIR?
This involves obtaining a Tax Identification Number (TIN), registering the business and books of accounts (through ORUS), and securing authority to print receipts and invoices.
What documents are required for BIR business registration?
Required documents typically include DTI or SEC registration, and valid IDs of the owners/partners/incorporators/directors.
How do you register a business with the Department of Trade and Industry (DTI)?
Choose a business name, ensure it is unique, submit the required documents, and pay the registration fee.
How do I reserve a company name in the Philippines?
This can be done through the DTI (with BNRS) for sole proprietorships or the SEC (with ESPARC) for corporations and partnerships, which offer online name reservation services.
What are the requirements for a foreign corporation to open a branch office in the Philippines?
To open a branch office, a foreign corporation must secure a license from the SEC and the required capital remittance.
How do I obtain a Mayor's or Business Permit?
Apply at the local city or municipal hall where the business is located, providing necessary documents such as a community tax certificate, barangay clearance, and DTI/SEC registration.
What are the specific requirements for registering a partnership?
These include the Articles of Partnership, partnership name, principal office address, partners' names, address, passport or TIN of the partners, and their contributions registered with the SEC.
Are there specific guidelines for registering a One-Person Corporation (OPC)?
An OPC requires a single incorporator/director who is also the sole shareholder, with specific guidelines on the nominee and alternate nominee.
How do I apply for tax incentives for my business?
Depending on eligibility, businesses may apply for incentives through the Board of Investments (BOI) or: Philippine Economic Zone Authority (PEZA), CEZA, SBMA & CDC, ZEZA, PIA, and ASEZA.
What are the annual regulatory requirements for a registered business?
These include annual financial statements, annual BIR tax filings, annual GIS, DOLE Annual Reports, and renewals of business permits.
How do I open a corporate bank account in the Philippines?
This requires SEC registration, articles of incorporation, bylaws, board resolution authorizing the account's opening, and signatories' identification documents.
What are the implications of the FINL on foreign-owned businesses?
The FINL affects the extent of foreign ownership allowed in specific industries and activities.
Can I register a sole proprietorship if I am a foreign national?
Foreign nationals can possibly get a sole proprietorship under specific conditions, such as following the FINL, and other requirements.
What legal obligations do I have after registering my business?
These include compliance with tax, employment, and industry-specific regulations and maintaining proper records and filings.
Are there special considerations for online businesses in terms of registration?
Online businesses must follow the same registration processes, with additional considerations for e-commerce regulations.
What government agencies are involved in business registration in the Philippines?
The DTI, SEC, BIR, SSS, PhilHealth, Pag-IBIG, DOLE, and Local Government Units (LGUs) are key agencies in the business registration process.
How do I register employees with the government?
Businesses must register employees with the SSS, PhilHealth, Pag-IBIG, and BIR for withholding taxes.
What are the tax obligations for a newly registered business?
These include income tax, VAT or percentage tax, withholding taxes, and other applicable taxes based on business activities.
How can I ensure compliance with BIR regulations?
Ensure accurate and timely filings of tax returns, payment of taxes, and maintenance of books of accounts are registered.
What are the advantages of registering a business in the Philippines?
The legal operation, access to financing, eligibility for government and private contracts, and business name protection. One great advantage especially for Foreign corporations with either a Branch Office or Representative Office in the Philippines is to have a legal personality in the Philippines. Which means that they may file a suit/ defend themselves in philippine court if needed.
Can a foreign national be a resident agent for a foreign corporation in the Philippines?
Yes, a foreign national can be a resident agent for a foreign corporation as long as the individual has a valid Philippines visa at the time of issuance, and is a residing in the Philippines. A foreign corporation must appoint a resident agent in the Philippines to receive legal notices.
What are the common mistakes to avoid during business registration?
Incomplete documentation, not checking the FINL, late registrations or renewals, and underestimating the importance of compliance.
Where can I seek professional help or consultancy for business registration in the Philippines?
Contact Us!