What companies can Chinese people register in the Philippines? What conditions need to be met?

The Philippines is a major member of the Association of Southeast Asian Nations (ASEAN), one of the 24 members of the Asia-Pacific Economic Cooperation (APEC), and one of the emerging industrial countries. Many Chinese companies choose to invest or register companies in the Philippines to develop their own business. So, what are the requirements for registering a Philippine company?

The types of companies that Chinese can register in the Philippines are: sole proprietorship, partnership, company, branch, representative office, regional headquarters and regional operating headquarters. The companies most selected by Chinese people are divided into all-foreign companies and Sino-Philippine joint ventures.

I) Conditions for Registration of Joint Venture Companies in the Philippines

1. Shareholders: at least 5 natural person shareholders, of which at least 3 are required to be Filipino shareholders.

2. Directors: at least 5 natural person directors, of which at least 1 Filipino director is required, and each director must hold shares.

3. Secretary: At least one Filipino secretary.

4. Share distribution ratio: the foreign capital of the joint venture company must be less than 40% and the Filipino nationality must be more than 60%.

Registered Address: A valid local registered address is required.

6. Registered capital: from 5000 pesos.

2) Conditions for registration of wholly foreign-owned companies in the Philippines

1. One natural person shareholder (OPC single person company), or more than 3 shareholders (at least 2 natural persons).

2. Share distribution ratio: foreign capital accounts for more than 40% of the shares and can hold up to 100 of the shares.

3. Company members: chairman (no Filipino nationality), company secretary and finance (no Filipino nationality, can be the same person).

4. Registered capital: minimum requirement of US $200,000 (e-commerce and other non-retail, non-restricted industries do not need to pay in).

5. All applications and requirements must be approved by the SEC before the company can be registered.

Note: The company industry is not in the list of investment restrictions can be allowed to set up all foreign companies.

III) Information Required for Philippine Company Registration

1. Company names in the Philippines: Three names are suggested for search.

2. Information on shareholders and directors of the company (information on shareholders and members of directors, proportion of equity distribution).

3. The identity and position of the shareholders of the company: PRESIDENT the representative of the company, TREASURER the secretary of the finance and CORPORATE SECRETARY; the finance and the secretary can be the same person.

4. The company's business scope: basically no restrictions (except for special industries).

5. Company registered address: must be in the Philippines.

6. Relevant notarized documents.

Note: The Philippine Company Law stipulates that the secretary-general of the company can only be a Filipino and a person holding a Filipino passport. Retired immigrants or other permanent resident status are not eligible to serve as Secretary-General.