What are the examples of sole proprietorship organization in the Philippines?

Answer 1

A sole proprietorship is a business owned by an individual who has full authority in the company and full control of its assets, and is personally responsible for all liabilities. The sole proprietor has unlimited liability, as the law basically treats the business and the owner as one and the same.

As a general rule, foreigners may put up single proprietorships in the Philippines in business activities where the constitution and the laws do not impose any restriction or limitation on ownership equity.

Registered sole proprietorships in the Philippines are typically very small businesses, like a corner grocery store or a family doctor practicing independently.