Setting up a company in the Philippines takes approximately 2 months.
The Philippines is a country in Southeast Asia, located in the Western Pacific region. It consists of more than 7500 islands. The increasing demand for company registration in the Philippines is due to its economy growing at a blitzkrieg rate. Recently, its economic growth was recorded at 6.9%, which is substantial as compared to other Southeast Asian countries. Service Industry, Trade, and Agriculture make for the major source of GDP. Additionally, Philippines has signed tax treaties with 41 countries including India, USA, UAE, Russia, Germany etc. The major benefits of setting up a business in the Philippines are as follows:
Skilled and English speaking employees are obtainable at a bargain basement rate.
Company incorporation in the Philippines is especially profitable for businesses’ in the Manufacturing, Service and Industrial sector.
The Philippines is an export hub for electronic products, precious gems, metal components and transport equipment among others.
Recently the government signed the General Appropriations Act (GAA) that amounted to PHP 3.767 trillion.
The enactment of Tax Reforms for Acceleration and Inclusion (TRAIN) will positively influence the taxation system in the Philippines.