THE PHILIPPINES - DOING BUSINESS
According to the World Banks 2020 report on ease of doing business, the Philippines moved up 29 positions and now ranks 94th out of the 190 countries in the list. While this is a marked improvement, the processs of setting up a company still requires quite a bit of paperwork and dealing with multiple agencies, each with its own requirements. Seeking a reliable partner or employ a local lawyer familiar with the process may speed up registering your business. Once established and familiarized with local regulations most people find things straight forward.
One should be aware that the Foreign Investment Act (FIA) contains foreign equity restrictions for parts of the economy. A good starting point is a comprehensive publication by the European Chamber of Commerce in the Philippines on “Doing Business in the Philippines”.
Certain sectors of the economy are actively supported by the government through special programs and tax incentives. The Department of Trade and Industries (DTI) is developing and administering those policies. The Philippines is the global leader in the BPO industry. One of the drivers facilitating this industry is the Philippine Economic Zone Authority (PEZA) which offers a streamlined starting up process combined with tax incentives. It is good to check if your business qualifies for PEZA registration.
Are you a starter or SME looking to deal across boarder for the first time then the NL.in.business platform might be a good starting point for gaining knowledge. The Dutch government also provides information on doing business in the Philippines through its Netherlands Worldwide platform. DCCP works closely with the economic section of the Dutch Embassy in the Philippines and they can also provide a good starting point for you investing in the Philippines. The Dutch Embassy also produced a directory on Dutch companies and organizations active in the Philippines called “The Netherlands in the Philippines”.
The Dutch Chamber, the Embassy and trusted third parties work together in providing certain services to the business community. To see who is providing what service please check the services section.