What publications are available on Philippine exporters / companies?
The following publications, which are available at PTIC – Kuala Lumpur, are useful reference materials for obtaining information on Philippine exporters/ companies:
- The Buyers’ Guide
- PLDT Directories
- Top 5000 Corporations
Who can provide detailed background information on Philippine companies?
Background information on companies can be obtained through the industry associations, the Securities & Exchange Commission or through private companies such as the CIBI. The PTIC can assist in obtaining background information particularly on Philippine exporters.
What are the Philippine tariff rates on my products?
The Tariff & Customs Code of the Philippines is the reference for tariff rates. A copy is available at PTIC. For any inquiry, it is important that the HS code of the product is identified.
Where can we get information on trade events in the Philippines?
The PTIC – Kuala Lumpur maintains a compilation of selected Philippine trade events. Information may also be obtained from CITEM athttp://www.info.com.ph/~infolink.
What are the policies on foreign equity investments in the Philippines?
The Philippines welcomes foreign investments in practically all areas except those activities found in the Foreign Investments Negative List (FINL). The PTIC -Kuala Lumpur can provide detailed information on the FINL and other basic policies on foreign investments in the Philippines.
What are the guidelines / procedures for setting up a company in the Philippines?
A foreign company intending to do business in the Philippines must register with the Securities & Exchange Commission. The basic requirements for registration include:
- accomplished SEC application form
- name verification slip
- certification or the board resolution authorizing the establishment of a branch/representative office in the Philippines; designated resident agent
- financial statements
- certified copies of articles of incorporation
- proof of inward remittance
- accomplished foreign company information sheet
For further information, contact the PITC or view http://www.sec.gov.ph.
What services are available for foreign investors?
The PTIC is the frontline of a network that supports foreign investors in the Philippines. In the Philippines, the network includes the BOI that has established a One Stop Action Center for Investments. The network further extends to the regional and provincial offices of the DTI.
What incentives are available for investors?
Investments in activities listed in the annual Investment Priorities Plan are entitled to incentives subject to registration with the BOI. Moreover, investments in export processing zones, special economic zones (such as Subic and Clark) may also avail of incentives.
The incentive package includes, among others:
- income tax holiday
- tax & duty free importation of capital equipment (under PEZA)
- tax credits on domestic capital equipment
- tax credit on taxes and duties on raw materials
- employment of foreign nationals
Are there basic right and guarantees provided for foreign investments?
All foreign investors and enterprises in the Philippines are entitled to basic rights and guarantees which are provided for in the Philippine Constitution.
- Right to Repatriation of Investments
- Right to Remittance of Earnings
- Right to Foreign Loans and Contracts
- Right to Freedom from Expropriation
- Right to Non-Requisition of Investments
Is a visa required for a business visit to the Philippines?
Citizens of ASEAN member countries do not need visas when travelling within ASEAN for short business visits.
Please provide indications of operating costs in the Philippines.
The BOI has basic information on Operating Costs in the Philippines. Please see http://www.boi.gov.ph.
What are the sources of information on Malaysian buyers / companies?
The PTIC - Kuala Lumpur can assist in identifying Malaysian importers. Its resources include a compilation of industry directories and a network of contacts in business organizations.
What are the policies and regulations affecting my products in Malaysia?
The PTIC - Kuala Lumpur can assist in assessing the market for specific products in the Malaysian market.