Philippines
Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Philippines.
Foreign Ownership Eligibility
Philippines welcomes 100% foreign-owned companies
Fully remote formation — you never need to set foot in the country.
- Domestic Stock Corporation is the default operating form
- Headline corporate income tax is 25%
- Standard VAT is 12%
- SEC and BIR registrations are core setup requirements
Ownership
100% Foreign OK
Formation
100% Remote
Note
Philippines SEC online registration via eSPARC typically processes Domestic Stock Corporations in 7–15 business days; BIR (Bureau of Internal Revenue) registration adds 3–5 days; total end-to-end including local permits: 2–4 weeks (World Bank Doing Business confirmed).
Tax at a glance
Philippines Tax Overview
25% headline CIT
Corporate income tax
PwC Philippines
12% standard rate
VAT
PwC Philippines
Pros & cons
Advantages & Considerations
Key Advantages
Clear SEC and BIR registration pathways
Well-understood domestic corporation framework
Established services and consumer market base
Considerations
Foreign equity limits can apply by sector
Timeline certainty is not fully source-locked in the current fact sheet
Local permit layers can add operational complexity
Incorporation Process
The process is strictly digital. Each stage builds on the previous one.
Reserve and clear company name
Register with SEC
Register with BIR
Complete local and social registrations
What you'll pay
Cost Architecture
Government Fees
Annual Ongoing
Professional Services
SEC eSPARC registration: 7–15 business days; BIR registration: 3–5 additional days; LGU permits add 1–2 weeks. Full setup: typically 3–5 weeks.
Still unsure about costs?
These are estimates — your actual cost depends on your structure
Every Philippines setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.
Fintech & Banking
Can non-residents open accounts without visiting? YES.
Banking options for non-resident founders in Philippines. Remote account opening availability varies by institution.
| Institution | Type | Ease for Non-Residents | Notes |
|---|---|---|---|
| BDO | Traditional bank | Low (Visit Required) | Institution-dependent compliance checks • Varies by institution • Bank-specific • SEC papers, tax records, UBO profile, business documents • Instapay/PESONet, transfers, cards, online banking |
| BPI | Traditional bank | Low (Visit Required) | Institution-dependent compliance checks • Varies by institution • Bank-specific • SEC papers, tax records, UBO profile, business documents • Instapay/PESONet, transfers, cards, online banking |
| Metrobank | Traditional bank | Low (Visit Required) | Institution-dependent compliance checks • Varies by institution • Bank-specific • SEC papers, tax records, UBO profile, business documents • Instapay/PESONet, transfers, cards, online banking |
| Land Bank | Traditional bank | Low (Visit Required) | Institution-dependent compliance checks • Varies by institution • Bank-specific • SEC papers, tax records, UBO profile, business documents • Instapay/PESONet, transfers, cards, online banking |
| Digital-bank options vary by institution | Fintech | High (Remote) | Institution-dependent compliance checks • Varies by institution • Bank-specific • SEC papers, tax records, UBO profile, business documents • Instapay/PESONet, transfers, cards, online banking |
Regulatory requirements
Annual Compliance Matrix
| Requirement | Deadline | Details |
|---|---|---|
SEC annual filings | Ongoing | Submit annual disclosures and audited financial statements as required. |
Tax returns | Ongoing | File annual income tax and periodic VAT/withholding returns with BIR. |
Corporate records | Ongoing | Maintain corporate books and governance records in good order. |
Frequently Asked
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