Expand by Doing Business in the Philippinesd

The Philippines consists of some 7,000 islands – only 730 are inhabited and 11 account for most of the land area as well as population.

The economy is dependent on manufacturing, agriculture, forestry and fishing. Most industries are concentrated around Manila, the capital city, Cebu and Davao cities. These being the most interesting places to find business contacts.

The Philippines population is youthful with more than half the population aged under 24. Incomes in urban households are on average 2.5 times higher than in rural ones.

Even if the household income is not the highest in the region, there are many business to do in the Philippines. Many services for export orientated companies are needed. Infrastructure opportunities are numerous. Doing business in the Philippines should be a priority for your expansion plans.

Doing Business Philippines Why

Philippines government is open to investors doing business in the Philippines. It has shown by offering many incentives to foreign investors to operate all kinds of businesses in the Philippines. Foreign ownership is allowed without restriction for all those companies who mainly indulge in export activities.

There are many ecozones, freeports available in many parts of the country where companies who locate in them receive many tax breaks not available in other parts of the country.

Doing business Philippines does have a lot of bureaucracy involved but after the initial startup things go a lot smoother.

Benefits of Doing Business in the Philippines

Why do Business in the Philippines?

The is centrally located in South East Asia just a few airplane hours away from the capitals of most other countries in the area.

A large educated population with a large majority speaking English. Call centers and other outsourcing business have been flocking to open companies in the Philippines . The workforce is abundant with salaries vastly below the USA and Europe.

There is a very favorable foreign investment policy with many tax incentives available.

These are just some of the many advantages of doing business in the Philippines.

Foreign Companies Doing Business in Philippines

Foreign companies may do business in the Philippines by forming or registering a representative office, branch office or a domestic corporation. Foreign ownership is mainly restricted to export companies and to businesses which do not compete with local Philippine corporations.

Apart from the red tape you will need to adapt to the local culture of Philippines business.

Doing Business Philippines

Anyone wanting to operate a business in the Philippines whether a corporation, partnership or sole proprietorship, must be duly licensed and registered with the proper government offices.

There are many permits that need to be obtained, mayor's permit and barangay permit. These must be obtained every year.

Tax reports must be filed monthly with the Bureau of Internal Revenue. Penalties are given for being late in remitting tax reports.

Doing business in the Philippines can be rewarding once you get through the red tape.