Start my own business in Philippine

Hello alexwi and welcome to Expat.com!

A new discussion has been made from your message in the Manila forum for better visibility.

For your request, maybe you could give us a little introduction first, and then give us more details about what you are looking for, so as other members may help you.

Regards,
Harmonie.

Hello alexwi,

For foreigners to open business here, you must have a local counterpart. In addition to that, you can only open corporation with 40% foreign ownership and 60% Filipino.

If you have local partners already, you just need passport copy for company registration.

Goodluck!!

Goodluck!!to you,gold bless you

if your thinking it out maybe you should buy condo and rent it out as your good investment..i can help you and try location anyway which is Makati:)

Yes, you will need a certain percentage of filipino ownership.  As well as a at least 100,000PHP to set up a bank account

With the SEC you would selecting and registering a Company Name, drafting and file your Articles of Incorporation & By-Laws, whereby you would get a Certificate of Registration.

You also need to set up a local bank account in your company's name, register your company with various government entities including SSS, Philhealth, HDMF, acquire business permits and other municipal clearances, and register the company for a tax certificate from BIR.

Total processing time for business registration is 2-3 weeks, SEC company registration can be completed in less than 1 week.

Contact me if you want more detailed information.

or see bpo-accounting.com/our-services/incorporation-assistance-and-compliance-services

Hi Alexwi,


What kind of business you like to establish here in our country? And if you ask for the papers you needed, go in BIR, DFA and Philippine Government website to check what is the particular document you need in able for you to established company.


Good luck to your plan and Hope I can be part you your company...chow smile always .


Vhinney

Hi, I copied and pasted this from another post on the same thing. The woman seems to know what she's talking about.


- PROVISIONS UNDER BP 185 (Applies to acquisition of land for purposes of residence)
- Foreign Investment Act of 1991
- RA 8179, pertinent to land ownership by former Filipinos:

Foreigners can buy condo and apartment units and own them 100%. Foreigners can also own 100% of corporations as long as the activity is not restricted by the Foreign Investment Negative List.

60% or 70% refers to owning a land exceeding 1000 sqm - of which you need a Filipino co-owner for that. The reason being that you need a Filipino co-owner, if in case you failed to pay the real estate taxes and VAT, the BIR can chase the Filipino co-owner and put a lien on your property.

Yes you need a return ticket unless you are a permanent residence or equivalent.


If I am wrong, then how come I own a parcel of land and a condominium. The policies were clearly mentioned to me before the sales of properties.

If foreigners can't own a business then the Philippines wouldn't have

- call centers
- free zones
- multi dwelling development like condominium type buildings

You think those commercial businesses are owned solely by Filipinos



And its not only Philippines that do have policy restriction regarding ownership of business.  So many countries do that, its gotta be that you are a permanent residence or hold some kind of long term visa (other than employment visa). I never heard of a country that allows foreign ownership of a business without regard to policies about paying taxes, paying employees wages, lease of an office, registration of a business..

Allanna wrote:

Hi, I copied and pasted this from another post on the same thing. The woman seems to know what she's talking about.


- PROVISIONS UNDER BP 185 (Applies to acquisition of land for purposes of residence)
- Foreign Investment Act of 1991
- RA 8179, pertinent to land ownership by former Filipinos:

Foreigners can buy condo and apartment units and own them 100%. Foreigners can also own 100% of corporations as long as the activity is not restricted by the Foreign Investment Negative List.

60% or 70% refers to owning a land exceeding 1000 sqm - of which you need a Filipino co-owner for that. The reason being that you need a Filipino co-owner, if in case you failed to pay the real estate taxes and VAT, the BIR can chase the Filipino co-owner and put a lien on your property.

Yes you need a return ticket unless you are a permanent residence or equivalent.


If I am wrong, then how come I own a parcel of land and a condominium. The policies were clearly mentioned to me before the sales of properties.

If foreigners can't own a business then the Philippines wouldn't have

- call centers
- free zones
- multi dwelling development like condominium type buildings

You think those commercial businesses are owned solely by Filipinos



And its not only Philippines that do have policy restriction regarding ownership of business.  So many countries do that, its gotta be that you are a permanent residence or hold some kind of long term visa (other than employment visa). I never heard of a country that allows foreign ownership of a business without regard to policies about paying taxes, paying employees wages, lease of an office, registration of a business..

the Philippines has a long history of colonialism. The government  is very restrictive about selling land to foreignors, especially since most Philippinos' dream is to own some land. To own land, you need a coinvestor. The call centers/BPOs are under corporate form with a local investor. However, if you invest a large amount, then can get around the ownership restrictions.

Be very careful about anyone who will sell you land.

Hi
All previous blogger are correct in their info for starting business, what I want to say is just how difficult business is in Naga and I think all Phillipines.
My wife & I run a Cleaning Chemical Business suppling direct to end user businesses so are dealing with them on daily basis
1st. what business to go for, if its any good u can be sure there is one on every corner (like Carwash Laundry water station)
this create high competition and prices fall, the most highly geared business fail(owing everyone money) other take there place
we see it all the time here, the simple fact is that the consumer spending is not big enough for the amount of supplier.
about the best business that I see (but bloody hard work)is Eatery especially canteens outside schools.
and if u are going to open a new business be prepared to run it yourself or at least be there a lot, because many workers are light fingered to the point that some large Eatery won't buy gallon of detergent off us(they use satchell)because of pilfering
Pete

blueoakey wrote:

Hi
All previous blogger are correct in their info for starting business, what I want to say is just how difficult business is in Naga and I think all Phillipines.
My wife & I run a Cleaning Chemical Business suppling direct to end user businesses so are dealing with them on daily basis
1st. what business to go for, if its any good u can be sure there is one on every corner (like Carwash Laundry water station)
this create high competition and prices fall, the most highly geared business fail(owing everyone money) other take there place
we see it all the time here, the simple fact is that the consumer spending is not big enough for the amount of supplier.
about the best business that I see (but bloody hard work)is Eatery especially canteens outside schools.
and if u are going to open a new business be prepared to run it yourself or at least be there a lot, because many workers are light fingered to the point that some large Eatery won't buy gallon of detergent off us(they use satchell)because of pilfering
Pete

What about the Yellow Taxi, isn't that owned by Aussies? What about strip bars or brothels? Seems like the Aussies have a leg up on these as well?

Hi World to free
my comments are not even suggesting Nationallities just because some Aussies have been successful doesn't mean business is easy in Phil, it's not impossible but one needs to work hard at it
Pete

We are open to adding investors and/or new partners in our company. We provide housekeeping, cleaning, and dustmite extraction from beds and other dust traps in houses. Contact us if you're interested.

Well you have several options some of which I tried.

1. Invest in high end real estate condos if you have the cash but it's getting harder now. I bought three high end condos(foreigners can own condos at that time I was not a dual citizen yet) back in 2005-2007 two of which I rent for P120,000 and P30,000. Both are paid for. So that's about a little less than $4,000 a month enough to retire on right? Well yes, and I tried this for six months but got bored just hanging out in my other condo doing nothing really. So I traveled out of Manila most of the time to the provinces in the north and the south. I bought an old car and it was fine getting around after getting lost during the first few weeks in Manila. This is good passive income but you better remain active and this was the pitfall of this strategy for me since I was a very busy person back in the US as a university lecturer, an artist, and community jazz club owner. So the lesson is to prepare a transition plan to stay busy by volunteering or even working teaching English at prevailing Filipino salaries.

2. Start a small business which I also tried to do by participating in the local farmer's market once a week selling juices/coffee/etc. I was able to eek out about $125-200 bucks profit selling drinks for one day but man, it is hard work setting up that damn booth at 6am. I stopped this although I might do it again just to meet people and network and stay busy.

3. Any business that Filipinos are already doing, there is a reason why they are doing it and sometimes doing it well so don't try to compete with them because they are cut throat with the prices. I think a convenience store would work well in the provinces but not in the cities. Again think of a niche business where you have very little competition. I also tried an online business selling all these brand name clothing I got in the US and selling them here at 50-100% mark up. It's very successful during the holidays but again, buy and sell is really not my thing and kind of boring just taking pictures of clothing, accessories and posting them online so I've taken a break from this.

4. This option is the one I'm going to try for the next two years. Teach and work in the US 8 months a year and stay in the Philippines 4 months a year. This way I can still stay busy and still enjoy the Philippines. That's the reason I'm going back in June this year to go back to teach again. I retired just last year at 48 but after six months here of retirement, I've decided to "retire" from retirement because I havent been able to find my groove to stay busy here.

Firozbusiness wrote:

Dear, Can u help me to open Manpower recruitment company in Manila, Philipine

Can you please stop repeating the same post. I suggest you read a few of the posts on this forum which have information about starting a business.  You could also check up with your nearest Philippines Embassy for the information.

Firozbusiness wrote:

Dear, how can I open a Recruitment company in Manila... Please let me know, Email: firozbusiness@gmail.com

hi, you should open up your business in cebu coz its lot more cheaper than in manila. if you are going to recruit people here to be sent to abroad you need to register with the poea. but before to poea you need to get registration from sec, bir, and to the lgus. hope this helps.

[moderated: no copy paste pls]