INVESTMENT PROCEDURE - PHILIPPINES

INVESTMENT PROCEDURE – PHILIPPINES

Set up Business

Submit application to the Philippines Securities and Commission (SEC) with other documentary requirements
Register to Local Government Unit (LGU) to secure business permit or license
The Bureau of Internal Revenue (BIR)
– Acknowledgement Certificate
– Inform if wishes to use a computerized accounting system (CAS) or computerized books of account (CBA)
Submit required documents referred to in Revenue Memorandum Order No.9-2021
Required to pay in full amount of at least 25% of the subscribed capital stock (owned)

01 Bank Support

Open Bank Account

Internet Banking/Mobile Banking

Law Regulation/ Privilege

Republic Act No. 7042 mandates the restriction of investment areas
Social security laws – employees
Business permits and licenses
Parents, Copyrights, Trademarks
Tax incentives
– Filed application to the relevant Investment Promotion Agency (IPA)

02 Bank Support

Fund Transfer (in/out)

Cash Management

Operational Business

03 Bank Support

Project/ Analysis (FA, IB)

Market Analysis: AEC Connect (Trends/Growth/Needs)

Report & Taxation

Regular corporate income tax (RCIT) 25%
Value-added tax
Minimum corporate income tax (MCIT)
– Starting on the 4ᵗʰ year, if MCIT is greater than RCIT, then the excess shall be carried forward and credited against the RCIT for three instance taxable years
If revenues exceeded Php 3 million, an independent Certified Public Accountant (CPA) is required
Annual permit/business license renewal
A Complete annual tax incentives report and annual benefits

04 Bank Support

Financing Facilities

Loan / Capital

Others

The foreign investment should be registered with the Bangko Sentral Ng Pilipinas (the Philippine Central Bank)
– Purchasing foreign currency from Philippine banking system to repatriate/remit capita/profits/
– dividends

05 Bank Support

Business Matching with BBL Existing Customer