Licensing Requirements of a Regional Headquarters (RHQs) in the Philippines
Foreign corporations intending to set up a Regional Headquarters in the Philippines are only allowed to commence their business operations after obtaining a License to Do Business in the Philippines from the Securities and Exchange Commission (SEC). To secure a License to Do Business, a foreign corporation needs to provide the following documentary requirements:
- Name verification slip;
- Certification by the Philippine Consulate/Embassy or the Philippine Commercial Office or from the equivalent office of the Philippine Department of Trade and Industry (DTI) in the company’s country of origin verifying that said foreign corporation is engaged in international trade with subsidiaries, branches, or affiliates in the Asia-Pacific (APAC) region and other foreign markets; and in case the certification is issued by the equivalent of the DTI, the same shall be authenticated by the Philippine Consulate/Embassy;
- Certification from the Principal Officer of the foreign corporation verifying that it was authorized to establish an RHQ in the Philippines;
- Proof of inward remittance of US$50,000.00 as paid-up capital and annual support for operating expenses;
- Registration Data Sheet;
- Endorsement or clearance from appropriate government agencies (if applicable);
- Endorsement from the Board of Investments (BOI); and,
- Latest authenticated financial statements showing the solvency of the head office.
Expand Your Business into the Philippines
Our Group of Companies is the leading force in cross-border corporate services in Southeast Asia. Our specialists in the Philippines possess multi-jurisdictional compliance expertise, assuring you that we can take your business wherever it needs to go.