How To Register Llc In Philippines

Formation of corporations is governed by the corporation code.

How to register llc in philippines. Foreign entrepreneurs reluctant to register a branch in the philippines can alternatively form a joint stock corporation. Registration of proposed company name with sec. Business owners who want to register their company in the philippines need to deposit a minimum amount of capital in the bank account. A domestic corporation is a business entity incorporated recognized and operating in the philippines. All foreign entities other than individuals doing business in the philippines are required to register with the securities and exchange commission whether as domestic corporations domestic subsidiaries branches or partnerships.

Local government units where your business is located. Register your business name at the department of trade and industry dti make sure to search the dti website to see if there are any businesses in existence that have a name similar to yours. Where to register a corporation. Bureau of internal revenue. Registration of a domestic corporation in the philippines.

To do so they will first need to appoint a board of directors comprising at least 5 members each of them possessing at least 1 share of the company. Here s a simplification of the business registration process for domestic corporations. Articles of incorporation and by laws. If you have employees you need to register to the following. The most common type of corporation in the philippines a domestic corporation is the local equivalent of a private limited company plc or limited liability company llc in other countries.

Here are the government agencies where you are required to register a corporation in the philippines. To set up a representative office in the philippines the parent company must transfer usd 30 000 to the corporate bank account in the philippines. Registration steps of a limited liability company in the philippines those interested in starting a business in philippines under the form of a limited liability company must. Making a reservation for the company name with securities and exchange commission in the philippines. The philippines corporation code sets that minimum at php 5 000 but your bank will need additional materials including articles of incorporation and identification documents.

In the philippines where there is no limited liability corporation llc the closet entity would be a corporation a set of separate juridical persons established under the philippine corporation code and regulated by the securities and exchange commission sec of the philippines. If the business name that you want is available fill out a business name application form and submit it to dti s office.