Philippines

Corporations are separate juridical persons established under the Philippines Corporation Code and regulated by the Philippines Securities and Exchange Commission (SEC). They are an entity separate and distinct from that of the shareholders. The liability of the stockholders of a corporation is limited to the amount of their share capital. A corporation can either be stock which divides it's dividends of profits based on the share structure or non-stock company which is organized principally for public purposes such as charitable, educational, cultural, it does not issue stock. If a registered company is 60% Filipino-40% foreign-owned, is considered a Filipino corporation; If more than 40% foreign-owned, it is considered a foreign- owned domestic corporation. Corporation is good for almost any business with a more complex structure to protect it's members and shareholders. A Philippines corporation can be 100% foreign owned as long is it is not listed on the Philippines Foreign Investment Negative List.

Requirements

•Must consists of at least five (5) to fifteen (15) shareholders.

•Registration of Name with Dept of Trade and Industry DTI.

•Submission of duly notarized Articles of Incorporation and By-Laws.

•If the Corporation has more than 40% foreign ownership submission of SEC form F-100.

•Registration of paid-up capital and affidavit from corporate treasurer.

- For 100% Filipino ownership minimum paid up is between 50,000-100,000 Pesos

- For Foreign ownership the minimum paid-up is expected to be higher depending on the type of corporation registering.

•Licenses and clearance from necessary government offices

• Filing of Tax Identification Number TIN with Bureau of Internal Revenue BIR.

•If employing individuals must register with government offices.

• Business permit and Mayor's License for city of operation.

Type I. Two pronounced seasons, dry from November to April, and wet during the rest of the year. Maximum rain period is from June to September.

Regions with Type I climate are: Ilocos Region, western part of Mountain Province, western part of Nueva Ecija, Central Luzon, Metro Manila, Cavite, Laguna, Batangas, Tarlac, Pampanga, Bulacan, Bataan, Zambales, Occidental Mindoro, southern parts of Antique and Iloilo, northwestern part of Palawan, and the southern parts of Negros Oriental and Negros Occidental).