How to Establish a Foreign Company in the Philippines

Here"s the Tutorial on How to Establish a Foreign Company in the Philippines.The Philippines, known as one of the fastest growing regions in the world stage today, is a critical entry point for the emerging Association of Southeast Asian Nations (ASEAN) market. Equipped with a robust and literate workforce, abundant resources, and a liberalized economy, the government invites foreigners to invest in the Philippines.

1. BRANCH OFFICE

Documentary Requirements

i. Form F103

ii. Name Verification Slip

iii. Authenticated copy of Board Resolution authorizing establishment of office in the Philippines designating resident agent and stipulating that in absence of such agent or upon cessation of business in the Philippines any summons may be served to SEC as if the same is made upon the corporation at its home office.

iv. Financial Statements as of a date not exceeding one year immediately prior to the application certified by independent CPA of home country and authenticated before the Philippine Consulate/Embassy.

v. Authenticated copies/Certified copies of the Articles of Incorporation/Partnership

vi. Proof of inward remittance ($200K) minimum

vii. Resident Agent’s acceptance of appointment (if not signatory in application form)

Application Procedure

i. Verify/reserve proposed name

ii. Get F-103 form from CRMD

iii. Present accomplished forms/docs for pre-processing at CRMD

iv. Pay filing fees to cashier

v. Claim license from Records Division

Processing time

Within 3-5 days from filing

2. REPRESENTATIVE OFFICE

Documentary Requirements

i. Form F-104

ii. Name Verification Slip

iii. Authenticated copy of Board Resolution authorizing establishment of office in the Philippines; designating resident agent & stipulating that in absence of such agent or upon cessation of business in the Phil. Any summons may be served to SEC as if the same is made upon the corporation at its home office.

iv. Financial Statements as of a date not exceeding one year immediately prior to the application, certified by independent CPA of home country and authenticated before the Philippine consulate/embassy.

v. Affidavit executed by the resident agent stating that mother office is solvent and in sound financial condition

vi. Authenticated copies of Articles of Incorporation with an English translation if in foreign language other than English

vii. Proof of inward remittance (US$30K) minimum such as bank certificate.

viii. Resident Agent’s acceptance of appointment (if not signatory in application form)

Application Procedure

i. Verify/reserve proposed name

ii. Get F-104 form from CRMD

iii. Present accomplished forms/docs for pre-processing at CRMD

iv. Pay filing fees to cashier

v. Claim license from Records Division

Processing time

Within 2 days from filing

3. REGIONAL HEADQUARTERS/REGIONAL OPERATING HEADQUARTERS

Documentary Requirements

i. Application Form for RHQ/ROHQ

ii. Name Verification Slip

iii. Authenticated certification that foreign firm is engaged in international trade with affiliates, subsidiaries, or branch offices in the Asia Pacific region & other foreign markets.

iv. Authenticated certification from principal officer of foreign entity that it was authorized by its Board of Directors or governing body to establish RHQ in the Philippines

v. BOI endorsement indicating its approval of RHQ/ROHQ

Application Procedure

i. Verify/reserve proposed name

ii. Get application form from CRMD

iii. Get BOI endorsement

iv. Present accomplished forms/docs for pre-processing at CRMD

v. Pay filing fees to cashier

vi. Claim license from Records Division

Processing time

Within 1 day from filing

4. FOREIGN PARTNERSHIP

Documentary Requirements

i. Name of verification slip

ii. Get F-105 Form from CRMD

iii. Articles of Partnership

iv. Written joint undertaking to change corporate name signed by two (2) incorporators/Directors

v. Clearance/endorsement from other govt. agencies, if applicable.

vi. Proof of remittance of foreign partners (only for those partners who want to register their investments with BSP)

Application Procedure

i. Verify/secure proposed name

ii. Buy articles of Partnership forms from the Express lane

iii. Get FIA Form 105 from CRMD

iv. Get endorsement of other government agencies, if needed

v. Presents accomplished forms/docs for pre-processing at CRMD

vi. Pay filing fees to cashier

vii. Claims Certificate of Incorporation from releasing Unit, Records Division.

Processing time

Within 24 hours from filing