Doing business in: the Philippines
Produced in partnership with Ocampo & Suralvo Law Offices
Doing business in: the Philippines

The following Commercial practice note produced in partnership with Ocampo & Suralvo Law Offices provides comprehensive and up to date legal information covering:

  • Doing business in: the Philippines
  • Introduction
  • The Business Environment
  • Government
  • Legal System
  • Forming a company
  • Corporation
  • One-Person Corporation
  • Partnerships
  • Financing and capital raising
  • More...

Updated in September 2020

Introduction

The Business Environment

Forming a company

One-Person Corporation

Financing and capital raising

Opening a bank account

Land ownership and lease

Employment of foreign nationals

Labor and Employment

Business contracts

Taxation

Incentives

Regulatory compliance

Intellectual Property Rights

Philippine Competition Policy

Data Privacy

Introduction

The Philippines has maintained its position as one of the fastest-growing economies in Southeast Asia in the recent years. The country’s Gross Domestic Product (GDP) has sustained average annual growth of 6.3% between 2010–2018 from an average of 4.5% between 2000-2009. The country’s GDP is projected to fall to in 2020 due to the effects of the coronavirus (COVID-19) measures, but it is also expected to recover rapidly in 2021 with analysts expecting the GDP growth to be between 6.5% and 9%.

As of early 2020, the Philippines has received stable and positive credit ratings from Standard & Poor’s (BBB+), Moody’s (Baa2), and Fitch (BBB).

The aim of this guide is to highlight some of the key areas that a new business will need to know and address before it begins to operate in the Philippines. This guide should not be considered an all-inclusive guide and specific Philippine legal advice should always be sought before setting up and running a business in the Philippines.

The Business Environment

Government

The 1987 Constitution of the Philippines provides that the Philippines is a democratic and republican state. It is a representative government and the powers and duties of government are exercised and discharged

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