26Jul

How to Set Up in the Philippines – New Issue of ASEAN Briefing Magazine

The latest issue of ASEAN Briefing Magazine titled, “How to Set Up in the Philippines“, is out now and available to subscribers as a complimentary download in the Asia Briefing Publication Store.

In this issue of ASEAN Briefing

  • Political, Economic, and Social Introduction to the Philippines
  • Entering the Philippine Market: Comparing Models
  • Corporate Establishment in the Philippines: A Step-by-Step Guide
  • Using Singapore as a Gateway to the Philippines

Within ASEAN, the Philippines has proved to be the least vulnerable country to external economic shocks. Sound macroeconomic fundamentals, a steady economic growth rate, and a steadfast commitment to good governance by successive governments in the last decade offer foreign investors a stable base to consolidate their ASEAN operations.

The Philippines has an abundance of SEZs spread throughout the country, which have unique investment incentives. The country has a growing supply of trained and skilled labor as well as semi-skilled workers. The Philippines also has a language edge over some other ASEAN countries, as most Filipino workers are well-versed in English.

Further, successive governments have recognized that corruption and inadequate infrastructure are two of the key limiters of sustained economic gains, and have taken measures to initiate tax reform and reduce bureaucratic red tape. The current government’s planned tax reform package and the anticipated corporate income tax (CIT) rate cut is likely to attract more foreign investment.

In this issue of ASEAN Briefing magazine, we provide an introduction to the Philippines as well as analyze the various market entry options available for investors interested in expanding to the island nation. We also discuss the step-by-step process for setting up a business entity in the Philippines, highlighting the various statutory requirements for overseas investors. Finally, we explore the potential for Singapore to serve as a viable base to administer investors’ Philippine operations.


This article was first published July 2017.
Since its establishment in 1992, Dezan Shira & Associates has been guiding foreign clients through Asia’s complex regulatory environment and assisting them with all aspects of legal, accounting, tax, internal control, HR, payroll and audit matters. As a full-service consultancy with operational offices across China, Hong Kong, India and emerging ASEAN, we are your reliable partner for business expansion in this region and beyond.

For inquiries, please email us at .(JavaScript must be enabled to view this email address). Further information about our firm can be found at: www.dezshira.com

26Jul

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28Apr

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18Apr

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11Apr

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11Apr

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11Apr

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Industry Spotlight: Thailand’s Automotive Industry

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13Mar

Personal Income Tax in ASEAN: a Guide to 2017 Rates

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13Mar

Labor Dispatch Services: A Cost-Effective Employment Option for Growing Businesses in China

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Smartphones and India: Foreign Manufacturers Take a Bite

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Customs Procedures in Vietnam

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Key Outcomes of the 2016 BRICS Summit

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25Oct

Indian Government Set to Introduce Reforms to Labor Laws

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25Oct

Australia’s Services Exports to Gain from Upgraded Free Trade Agreement with Singapore

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25Oct

FDI in Green Buildings in China – a Solution for its Affordable Housing Problems?

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25Oct

China-Philippine Relations: Implications for Foreign Investment

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Evaluating the Changes Made to China’s FIE Establishment Procedures

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18Oct

Better Together: Assessing the Potential of Crowdfunding in China

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18Oct

Indian Government Introduces Amendment to Fix Retail Price of Essential Commodities

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18Oct

Industry Spotlight: India’s Dynamic Solar Energy Sector

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10Oct

ASEAN Market Watch: Philippine Tourism, Indonesian Tax Amnesty, and Tax Rules in Thailand

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Industry Spotlight: Vietnam’s Beverage Market

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26Sep

Legal Alternatives: Arbitration in India

Arbitration, particularly commercial arbitration, has become increasingly common in India. Although common in cases with large contracts involving infrastructure and construction, arbitration is commonly used to resolve issues related to admiralty law, import-export transactions, and stock exchanges. However, issues relating to criminal law, rent, or taxation have their own dispute...

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26Sep

Gaining Direction: Navigating China’s Direct Sales Industry

China’s direct sales industry has consistently displayed exceptional growth over the last few years. Value growth in 2015 was recorded at 10 percent, partially due to 20 new entrants gaining direct sales licenses in that year, keeping the industry incredibly competitive. If growth of 10 percent is maintained, the industry is expected to...

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26Sep

The State of ASEAN M&As in 2016

In its most recent investment report for 2016, ASEAN has focused heavily upon the intertwined issues of mergers and acquisitions (M&A). The report sheds light on the use of these tools by international investors as well as states within the bloc, providing insight on sentiment of varying parties. For...

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20Sep

China Implements New Unified Work Permit Pilot Scheme

On September 9, 2016, the State Administration of Foreign Experts Affairs’ (SAFEA) made an announcement that the existing Foreign Expert Permit and Alien Employment License will be merged into a single permit. The new permit will introduce a tiered classification system for foreign workers as well as a streamlined online application and...

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20Sep

City Spotlight: Investing in India’s Jaipur

Jaipur is the capital and largest city of the North Indian state of Rajasthan. Known as the ‘Pink City’, Jaipur completes the ‘Golden Triangle’ tourist circuit along with India’s capital New Delhi (100 square miles) and Agra in Uttar Pradesh state (90 square miles). The administrative district of Jaipur has a...

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20Sep

Vietnam Releases Draft Safety Standards For Heavy Manufacturing

Vietnam’s Ministry of Labor (MOLISA) has released the text of proposed technical standards that, if enacted, would apply to companies involved in commercial forging – a key component of heavy manufacturing and related production. Outlined at the circular level, details of the proposal were made public on August 23rd and...

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20Sep

Industry Spotlight: Identifying Opportunities in ASEAN Real Estate

With the establishment of the ASEAN Economic Community at the end of 2015, many ASEAN members have witnessed increasing harmonization of economic policies. The removal of trade barriers and increased openness throughout ASEAN is partly a result of the implementation of pre-arranged regional integration and standardization measures, but is also caused...

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13Sep

The Guide to Singapore’s Import and Export Procedures

Known for its ease of doing business, international outlook, and strategic position connecting Eastern and Western shipping lanes, Singapore is a welcoming locale for foreign traders. With connections to over 600 ports in 120 countries, Singapore boasts the world’s second busiest container port and is the gateway to the ASEAN region....

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13Sep

Vietnam to Introduce Environmental Incentives From September 23

Vietnam is set to extend export tax relief to a number of goods including products and machinery used in the treatment of waste, as well as goods registered under Vietnam’s emerging Green Label certification. Outlined by the Ministry of Finance (MOF) under Circular 128/2016/TT-BTC, incentives are set to come...

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13Sep

Fulfilling ‘Know your Customer’ Guidelines in India

Globally, the Know your Customer (KYC) process is a way for companies, particularly financial institutions, to verify the identity of their clients. The process is increasingly becoming common to prevent fraud, identify theft, money laundering, and terror financing activities. In India, the Reserve Bank of India (RBI) released KYC guidelines...

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13Sep

China’s New Advertising Law: Key Considerations and Implications for Online Advertisers

Over the past several years, the Chinese government has turned its attention toward greater regulation of advertising, and more recently of online advertising. Following in the footsteps of the amended Advertising Law implemented in 2015, the State Administration of Industry and Commerce’s (SAIC) Interim Measures for the Administration of Internet...

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06Sep

City Spotlight: Investing in Hangzhou

Traditionally overshadowed by metropolises such as Shanghai and Beijing in China’s international events, Zhejiang Province’s capital city of Hangzhou is finding itself in the global spotlight as it prepares to host the upcoming G20 Summit. Hangzhou has made considerable press recently for the Chinese government’s intense efforts...

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06Sep

Expanding the Digital Payments Ecosystem in India

India’s digital payments ecosystem will be worth around US$ 500 billion by 2020, according to the latest research put out by Google and the Boston Consultancy Group (BCG) in a joint study. Their forecast sees the digital payments sector contributing to 15 percent of India’s gross domestic product (GDP) in four...

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06Sep

Vietnam Announces 7.3 Percent Wage Hike for 2017

Vietnam’s National Wage Council has decided upon a modest 7.3 percent average increase in monthly minimum wages across the country for 2017. From January, workers must be compensated between minimums of VND 2.60 million (US$116) to VND 3.75 million (US$166). This is the lowest annual increase since 1997 and seems to be a compromise...

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