Licensing Requirements of a Representative Office in the Philippines
Foreign corporations are only allowed to do business in the Philippines through a representative office 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:
- SEC Application Form No. F-104 – Application of a Foreign Corporation to Establish a Representative Office in the Philippines;
- Name verification slip;
- Certified copy of the Board Resolution of the parent company authorizing the establishment of the representative office and designating a Resident Agent to receive summons and legal proceedings (can be a Philippine resident or a foreign national residing in the Philippines);
- Latest audited financial statements of the parent company certified by an independent certified public accountant (CPA) and authenticated by the Philippine consulate/embassy;
- Certified copies of the Articles of Incorporation of the parent company;
- Certificate of Inward Capital Remittance and Certificate of Bank Deposit of US$30,000.00 as initial capital and annual support for operating expenses;
- Resident Agent acceptance of appointment (if agent is not the signatory of the application form);
- Endorsement or clearance from appropriate government agencies (if applicable); and,
- Affidavit executed by the President or Resident Agent stating that the foreign corporation is solvent and sound in its financial condition.
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.