How to register your business in the Philippines with PEZA
Looking to register your business in the Philippines and receive tax incentives? Registering with the Board of Investments (BOI) and Philippine Economic Zone Authority (PEZA) can help. As an entrepreneur, registering with investment promotion agencies can increase your chances of success by freeing up finances. Follow these guides to register with BOI or PEZA and…
PEZA registration can be a long process. Here is a step-by-step guide on how to register your business with the Philippine Economic Zone Authority (PEZA).
PEZA registration process
Generally, PEZA follows a 7-step registration process:
Submit application documents for pre-screening
Pay application fee of ₱3,600 and secure official receipt
Submit the duly accomplished application form along with other required documents
Wait for receipt of Board Resolution
Submit Pre-Registration requirements as stated in Board Resolution
Pay registration fee of ₱6,000
Sign registration agreement with PEZA
To be eligible to register with PEZA, you must ensure that business operations have not yet begun and you are located within the designated Special Economic Zones (SEZs) provided by PEZA/
PEZA documentary requirements
PEZA requires enterprises to provide the following documents upon registration. However, depending on your industry the agency may require additional documents to support your application.
The basic requirements for PEZA registration are:
- Application Form
- Articles of Incorporation and By-Laws
- Board Resolution of a duly authorized company representative/signatory
- Project Brief
- Anti-Graft Certificate
- Project Feasibility Study
- Secretary’s certificate authorizing the application for registration with PEZA
Generally, the approval time for PEZA registration takes around two months, depending on the requirements submitted and the type of industry you wish to invest in.
Register your business with PEZA
Registering your business with PEZA provides many opportunities for your business, helping you secure a successful business venture in the Philippines.
How to register your business in the Philippines with BOI
Foreign enterprises who wish to set up a business in the Philippines may opt to register with the Board of Investments (BOI). To help you, here is a guide on how you can register with BOI and avail of its tax incentives for your business in the Philippines.
BOI registration process:
Generally, the BOI registration process is as follows:
File BOI Application Form along with supporting documents and the filing fee
Prepare Evaluation Report (including Publication of Notice of Filing of Application and plant visit)
Present the application form, evaluation report, and supporting documents to the BOI Management Committee
Wait for the confirmation and letter advice from the BOI Governing Board regarding Board Action
Submit letter advice to Applicant of Board Action
If approved, submit the letter of approval and comply with pre-registration requirements
Pay Registration Fee
Secure Certificate of Registration from BOI
The registration process usually takes 10 to 20 working days, depending on your business entity, nature of proposed activities, and documents provided upon registration. Moreover, you must ensure that your business meets BOI’s criteria to be eligible for the registration
BOI documentary requirements
Foreign enterprises must accomplish the following documents when registering with BOI:
- SEC Certificate of Registration
- Articles of Incorporation and By-Laws
- Audited Financial Statement (feasibility report that contains projected financial reports for the next five years)
- Income Tax Return for the past three years (if applicable)
- Board Resolution of a duly authorized company representative/signatory
- Project Report (a report that contains activities listed or is related to those listed in the SIPP)
Additionally, BOI requires foreign investors to have an equity investment in a Philippine corporation to be eligible for tax incentives.
Register with BOI and enjoy tax incentives your business
Registering your business with PEZA provides many opportunities for your business, helping you As an entrepreneur, ensuring that your business is registered with appropriate investment promotion agencies can help increase your company’s chances of success. Doing so provides you with ways to focus your finances on other business operations while maximizing your profits and revenue.
Related resources
-
Developing a global business strategy: Benefits and steps
Developing a successful global business strategy is crucial for any business looking to expand beyond its domestic market. The benefits of entering the global market are endless. In this article, we will explore the main concepts of global business strategy.
-
What is tax form collection and automation?
Collecting tax forms is an essential process for marketplace business owners. In this article, we’ll discuss why it matters, how to do it efficiently, and how automation can improve the tax form collection process.
-
Reports and Research
Welcome to our Reports and Research hub. Based on our leading position and experience in the world of cross-border business, our research reports aim to offer you our latest findings and global insights. Feel free to browse our reports and discover valuable resources to support your business’s growth and success.
-
How to use Payoneer
Want to make and receive cross-border payments with ease? Payoneer gives you access to a universe of opportunities to make international payments, receive funds, and much more to run your global business. Read on to learn about how to get started using Payoneer today.
-
What are invoices and why do you need them in business?
Every business owner needs to issue invoices. Learn what an invoice is, what you need to include on your invoices, and when you need to send them, and why tracking invoices is important for your business’ success.
-
Business and payment fraud detection: what it is and how to prevent it
What is payment fraud detection and what do you need to know to understand, detect, and prevent fraudulent activities. Discover the best practices, tools, and strategies to safeguard your business against payment fraud and protect your financial assets.
-
What is treasury management and how does it work
The basics of treasury management What is treasury management and why is it important? Treasury management plays a crucial role in the financial operations of businesses. This piece will explore the fundamentals of treasury management, its core functions, and its importance for businesses.
-
What is Accounts Receivable? A guide to understanding AR and its importance
Accounts receivable (AR) is crucial for business success. By managing your AR process effectively, you can improve Your cash flow, increase revenue, and build better customer relationships. AR involves tracking and managing customer payments and outstanding balances. Our comprehensive guide will help you understand what AR is, And how you can optimize your AR process…
-
A guide to accounting: what it is and how it works
Accounting plays a vital role in the financial management of businesses and organizations. This guide will provide an overview of accounting, explaining its fundamental principles and processes. We’ll review types of accounting, key documents, special considerations, and more.
Latest articles
-
Welcome to Payoneer!
Let’s get your business started for boundless growth
-
You have come to the right place
Let’s see if Payoneer is the right service for you and your business needs and how to sign up!
-
Welcome to Payoneer!
Let’s get your business started for boundless growth
-
Defying the odds: How Ukrainian businesses thrive during war
One year post-war, Ukraine’s businesses adapt and thrive amidst adversity. Entrepreneurs showcase resilience, reflecting national tenacity. Many diversify, venturing into e-commerce and digital realms. Despite hurdles, 44% of SMBs aim for growth, with 36% hiring. Their grit underscores Ukraine’s enduring spirit amid challenges.
-
How to Pay International Freelancers?
Interested in working with freelancers, worldwide? Making international payments to freelancers and independent contractors around the world doesn’t have to be a headache with Payoneer. Learn how to use Payoneer to pay overseas freelancers while saving on international transaction fees and without jumping through hoops.
-
What Are The Best Payment Options For Freelancers?
Freelancers offer flexibility and expertise without the overhead of traditional employees. However, processing invoices and payments for international freelancers can be a complex and time-consuming process. To work with freelancers effectively, it’s crucial to understand the available payment options for freelancers and how to best keep on top of accounting and invoicing.
