The option for foreigners residing in the Philippines who wishes to own majority if not 100% of the share. Subject to the SEC negative list, a foreigner may own upto 100% share depending on the industry type.
Registering a corporation requires a minimum of 2 incorporators, each of whom must be actual persons that must hold at least a single share in the company. Majority of the incorporators must be Filipino residents. A Corporation may have between 2 and 15 directors (or trustees if a non-stock corporation), each of whom must hold at least one qualifying share of stock. Majority of the directors (or trustees) must be Philippine residents. All Domestic Corporations (those incorporated in the Philippines) obtain their license from and are registered with the Securities and Exchange Commission.
The SEC will require a prospective Corporation to reserve and register a name, submit proposed Articles of Incorporation and By-Laws which are compliant with the requirements of the Corporation Code of the Philippines, and meet the minimum capitalization requirements pertaining to the industry or business that it is engaged in.
Under the Foreign Investment Act, the minimum paid-up capital requirement for a corporations considered Domestic Market Enterprise (DME) or one whose foreign equity exceeds 40% is US$200,000, which amount must be remitted into the Philippines. The registration requirements do not apply to export-oriented enterprise or involve advance technology and will employ at least 50 employees.
If there's multiple foreigners
For general business models that do not fall under special laws
Fast Track Option Available
Register your business in just 4 steps