Doing business in the Philippines. Entering the Philippine market
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Save your business tens of thousands of dollars
when entering the Philippines market
Save your business tens of thousands of dollars
when entering the Philippines market
General information
Population
109 180 815 people Official language
Filipino, English Main religion
Catholicism Currency
Philippine peso (PHP) Time zone
UTC+8 Economy of the Philippines
GDP per capita
3924 USD Economic growth
3,7% Unemployment
2,1% Inflation
4,1% Investment inflow
10,3 billion USD Business in the Philippines
Popular type of legal entity
Corporation Minimum number of shareholders
5 Company registration period
30 days Minimum share capital
200 000 USD Restrictions for foreigners on starting a business
Yes, in some industries, foreign ownership is restricted or limited A local director is required?
No, but a resident agent is required Corporate tax
30% VAT
12% Advantages and disadvantages
Advantages
english-speaking workforce, strategic location for trade, growing consumer market, competitive labor costs, and abundant natural resources Disadvantages
bureaucracy and administrative barriers, corruption, weak infrastructure, legal instability, high competition in certain industries, natural risks, and workforce challenges