PHILIPPINES Forming a Corporation service
Forming a Corporation
A corporation’s structure allows for the protection of the owners’ individual assets from that of the company, as it is an entity separate and distinct from that of the shareholders, whose liability in a corporation is limited to the amount of their share capital.
In the Philippines, where there is no Limited Liability Corporation (LLC), the closet entity would be a corporation – a set of separate juridical persons established under the Philippine Corporation Code and regulated by the Securities and Exchange Commission (SEC) of the Philippines. A corporation’s structure allows for the protection of the owners’ individual assets from that of the company, as it is an entity separate and distinct from that of the shareholders, whose liability in a corporation is limited to the amount of their share capital.
Requirements:
- Embodied by at least 5 to 15 shareholders
- Registered name with SEC
- Accomplished SEC form F-100 (for corporations with more than 40% foreign ownership)
- Registered paid-up capital and affidavit (amount depending on the percentage of foreign ownership)
- Obtained licenses and clearance from necessary government offices
Procedure:
- Secure company name
- Draft Articles of Incorporation and company information with directors
- Present Articles of Incorporation to local bank for placement of minimum paid up capital
- Present Articles of Incorporation and Bank Certificate to SEC for registration
- Complete licensing with all necessary government agencies
A Philippine corporation can be 100% foreign-owned, as long as it is not listed in the Philippine Foreign Investment Negative List (FINL). If a registered company is 60% Filipino-owned and 40% foreign-owned, it is considered a Filipino corporation. If it is more than 40% foreign-owned, it is considered a foreign-owned domestic corporation. This is important in transactions of land ownership, tax-incentive programs, and businesses with restrictions on foreign ownership.
Incorporating a business is a long process, and BGC and Co. CPAscan walk your organization through all these procedures. We will ensure that your organization gets registered and incorporated quickly, without complications.
BGC and Co. CPAs services include:
- Drafting the Articles of Incorporation and forming the corporation
- Registering with the local government
- Drafting the company manuals and employment contracts
- Providing recruitment and executive search services
- Accounting and payroll outsourcing
- On-going corporate compliance and filing
Incorporation is good for almost any business, with its complex structure protecting its members and shareholders BGC and Co. CPAs team of consultants and lawyers can guide your company through the complete business incorporation process here in the Philippines.
BGC and Co. CPAs is a mid-sized progressive auditing firm providing comprehensive set of cost effective solutions to organizations like yours.
Our services include auditing, accounting, bookkeeping, business management, and HR consulting. Further, we provide other business services like VISA processing in Bureau of Immigration (BI), Philippine Retirement Authority (PRA).
We are equipped with state of art tools and techniques along with dedicated professional to evaluate potential opportunities and risks effective auditing and assurance services. We understand a value adding auditing and assurance service focus on scope of business improvement rather than merely preparing financial statements and reporting on figures.
The firm was formed to assist clients on the preparation of compliances relating to tax, financial management, forecasting and accounting software and system installation. Assist clients in tax investigations, internal auditing procedures and provide on financial, taxation, accounting and auditing matters when needed. Processing of business registration, cancellation / termination.
Our Mission
Deliver reliable cost effective professional services in time meeting specific customer requirements.
Our Vision
To become one of the best auditing and accounting firm in the Philippines providing the utmost satisfaction to all the clients. We would like to be known as one of the finest company to partnered with in all the aspects.
Our Team
Our teams of dedicated professionals led by senior qualified accountants are obliged to give you quality services which will enable you to serve your clients better and there by improve your business. We together with our associates enable to give you the best in the industry.
ABOUT OUR SERVICES
Auditing and Assurance
We are equipped with state of art tools and techniques along with dedicated professional to evaluate potential opportunities and risks delivering effective auditing & assurance services. We understand value adding auditing and assurance service focus on scope of business improvement rather than merely preparing financial statements and reporting on figures.
Our expertise in analyzing accounting systems, designing better systems with proper internal controls and management information reporting help our clients to adequately plan their business building strategy and give them the confidence to pace up with the rapidly growing economy.
Accounting and Bookkeeping
Accounting and bookkeeping is a necessity of every organization irrespective of its size. Our professionally qualified and experienced accountants understand and analyze business transactions and ensure compliance with the accounting standards. BGC has well trained staff familiar with many of the accounting system and most especially to the rapid changes in the BIR rules and regulations. Qualitative and timely accounting reports are crucial for the success of any business organization. BGC ensures relevant and reliable financial reports are delivered on regular intervals to assess performance and to facilitate decision making. Outsourcing of accounts department helps you to get professional expertise at lower cost and BGC provides the most efficient and effective bookkeeping solutions.
We assist you with below services:
• Accounts preparation and supervision
• Preparation and presentation of financial reports
• Bookkeeping services
• Payroll processing
• Training of accounting staff
Business Set-up and Termination
We do assist in setting up different types of business organizations through registrations to different government agencies such as:
• Securities and Exchange Commission (SEC);
• Bureau of Internal Revenue (BIR);
• Local Government Unit (LGU);
• Department of Trade and Industry (DTI);
• Social Security System (SSS);
• Philippine Health Insurance (Philhealth);
• Pag ibig;
• Food and Drug Administration (FDA)
We also assist our foreigner clients for the following:
• VISA extension;
• Bureau of Internal Revenue (BIR);
• 9g VISA;
• Special Resident Retiree’s VISA (SRRV)
• Social Security System (SSS);
• Passport Renewal
SERVICES
CONTACT US
ADDRESS
- 7TH FLOOR, PCCI CORPORATE CENTER, L.P. LEVISTE ST., SALCEDO VILLAGE, BRGY. BEL-AIR MAKATI, PHILIPPINES 1209
- Info@bgcco.ph
- lconvento@bgcco.ph
- Working Hours : 8:00 a.m - 5:00 p.m
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